Jio Platforms Q4 net profit up 47.5% on year; Jio ARPU drops to Rs 138.2

MUMBAI: Mumbai: Jio Platforms’ (JPL) net profit rose 47.5% on year in the January-March quarter, on the back of a 19% rise in revenue, driven by strong mobile phone subscriber addition and higher data consumption.

However, average revenue per user (ARPU) – a key performance parameter – for the telecom business dropped by 8.5% sequentially to Rs138.2, dragged by the absence of interconnection usage charge (IUC), which became zero from January 1, 2021, and a lower number of days in the quarter. This dragged JPL’s quarterly revenue down 6% on quarter to Rs18,278 crore.