Reliance Jio managing director Sanjay Mashruwala resigns: Read the company's stock exchange filing - Times of India

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Sanjay Mashruwala

, one of the two managing directors at

Reliance Jio

, has resigned from the company. Reliance announced the same in a stock exchange filing. Mashruwala, 76, has been a key executive with Reliance since founder Dhirubhai Ambani's times and has been involved with several of its projects and business initiatives.

He will leave Reliance Jio effective from June 9, the company said.

Pankaj Mohan Pawar

, the other managing director, will continue.

Stock exchange filing

The BSE and NSE filing was made under "Intimation under Regulation 51(2) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

"This is to inform that Mr. Sanjay Mashruwala, Managing Director has tendered his resignation as Director of the Company, effective from June 9, 2024. Mr. Sanjay Mashruwala, aged 76 years, is an accomplished professional and has been the Managing Director of the Company since 2013. The Board placed on record its appreciation for the contributions made by Mr. Sanjay Mashruwala in the transformative journey of the Company. Mr. Pankaj Mohan Pawar continues as Managing Director of the Company. You are requested to take the above on record."

Reliance Jio Q4 net profit soars 13% year-on-year

The company made the disclosure while announcing its fourth quarter results for FY2024. India's largest telecom operator Reliance Jio posted a 13 per cent year-on-year rise in its standalone net profit at Rs 5,337 crore in March quarter.

Its revenue from operations for Q4FY24 came in at Rs 25,959 crore, up 11 per cent over the year-ago period. The net profit was pegged at Rs 5,337 crore for the just-ended quarter, up from Rs 4,716 crore in the fourth quarter of FY23, which translated into a 13.16 per cent increase.

For the full FY24, the net profit stood at Rs 20,466 crore, which was 12.4 per cent higher than that of FY23. The revenue for full fiscal ended March 2024 was Rs 1,00,119 crore, up 10.2 per cent over the preceding fiscal.