Jio Q1 net profit up 24% on year, ARPU rises to Rs 175.70

Jio Platforms Ltd’s (JPL) net profit rose 24% year-on-year in the first quarter, driven by higher data and voice consumption and increased average revenue per user (ARPU) on tariff hikes.

Jio also stemmed subscriber losses after three quarters, reporting 9.7 million net additions, taking its subscriber base to 419.9 million by the end of the quarter.

Analysts said this signaled an end to the SIM consolidation it witnessed since the increase in tariffs late last year.