Jio Platforms Q2 net profit up over 23%; ARPU rises but company loses subscribers

MUMBAI: Jio Platforms (JPL) net profit rose 23.5% on-year in the July-September quarter, driven by higher data and voice consumption and growing average revenue per user (ARPU). But the company lost mobile phone subscribers for the first time since it started commercial services in September 2016, as many users did not recharge owing to financial difficulties due to the pandemic.

For the fiscal second quarter, JPL’s consolidated net profit stood at Rs 3728 crore compared with Rs 3,651 crore at June end, and Rs 3019 crore a year ago, the company said in a release on Friday.