Ambani’s Reliance doubles down on 5G pledge after record profit

Reliance Jio, with almost 411 million users, reported a 15.5% jump in profit for the three months through December.

INDIAN billionaire Mukesh Ambani doubled down on his promise to offer 5G services on his wireless network as early as this year, as his conglomerate Reliance Industries Ltd. reported a record profit aided by its consumer businesses.

The group’s wireless operator, Reliance Jio Infocomm Ltd. -- India’s largest -- has started advance tests to prepare the fifth-generation, high-speed network, it said in a statement Friday. But the tycoon’s plans hinge on the availability of spectrum as the Indian government still hasn’t auctioned the required airwaves.