Jio Platforms offset continued subscriber losses in its fiscal Q1 2023 (ending 30 June) with an annual spike in ARPU, contributing to gains in overall profit and revenue.

Net profit grew 24.1 per cent year-on-year to INR45.3 billion ($568.1 million) and revenue 23.8 per cent to INR234.7 billion. ARPU increased 27 per cent to INR175.70.

“Customer engagement on our digital services platform remains high. Jio is working towards expanding data availability for all Indians and I am pleased to see the positive trends in mobility and FTTH subscriber additions,” Mukesh Ambani, chairman and MD of parent Reliance Industries, stated

Average data and consumption per subscriber grew 33.3 per cent to 20.8GB, while its total subscriber base fell from 440.6 million to 419.9 million, attributed to SIM consolidation in the wake of price rises in late 2021.