Jio Platforms’ net profit rises 45% on the back of new subscribers and higher data usage

Jio Platforms (JPL) net profit rose 44.9% on-year in the April-June quarter, driven by strong mobile phone subscriber additions and higher data consumption.

For the fiscal first quarter, JPL’s consolidated net profit stood at RS 3,651 crore compared with RS 3,510 crore at March-end, and RS 2,519 crore a year ago, the company said in a release on Friday. Quarterly revenue rose to RS 18,952 crore from RS 18,278 crore in the January-March period and RS 17,254 crore a year ago.

The average revenue per user (ARPU), a key performance parameter, for the telecom business, grew sequentially to RS 138.4 from RS 138.2 in the previous quarter.