Jio Platforms posted double-digit gains in profit and revenue in its fiscal Q4 (ending 31 March), as ARPU growth offset a drop in subscribers.
The decline marked the operator’s first annual drop in mobile users: Jio Platforms is India’s largest mobile operator by subscribers and had added 99.3 million in the year to end-March 2021.
In fiscal Q4, Jio Platforms’ total subscriber base fell to 410.1 million from 426.2 million in the same period of 2021 due to what the company stated was SIM consolidation following a price hike December 2021, which led to a net loss of 10.9 million.
Net profit grew 22.9 per cent to INR43.1 billion ($557.3 million), with total revenue increasing 20.7 per cent to INR261.4 billion.
ARPU rose 22.9 per cent to INR167.60 and average data use per subscriber 48.9 per cent to 19.8GB a month.Subscribe to our daily newsletter Back