India's Jio Platforms jumps on rise in quarterly profit

Jio Platforms

Mon 04:10

** Shares of Jio Platforms JIOP.NS rise as much as 3.1%; last up 0.9% at 1,444 rupees
** Telecom operator posts 13.7% jump in quarterly net profit to 83.89 billion rupees; rev from ops rises 11.4% to 404.75 billion rupees
** ICICI Direct Research says JIOP benefits from strong positions in mobility, home broadband and digital services
** Digital expansion in entertainment, AI, financial services, productivity and enterprise solutions opens monetisation opportunities beyond connectivity – ICICI Direct
** Motilal Oswal maintains "buy" rating, raises price target to 1,515 rupees. PT implies 6% upside, driven by higher incremental EBITDA margins and faster FCF inflection
** Motilal Oswal expects range-bound capex to support cumulative FY27-29 FCF of 1.68 trln rupees and net cash status by FY29
** Stock up 6.3% since its listing on October 28
     

 (Reporting by Mridula Kumar in Bengaluru)
 ((Mridula.Kumar@thomsonreuters.com;))