Jio Platforms net profit rises 23% to Rs 4,313 crore; revenue up 21.8%

Reliance Jio’s net profit jumped 22.9 per cent to Rs 4,313 crore year-on-year (YoY) in the fourth quarter of FY22, thanks to an increase in revenue and data volume.

Jio, however, continued to lose subscribers for the third consecutive quarter. Its customer base shrunk 10.9 million to 410.2 million at the end of fourth quarter. The company blamed SIM consolidation for the drop in customer base. It said consolidation was now slowing as the tariff hike impact had been absorbed.

Revenue from operations for the quarter grew 21.8 per cent to Rs 22,261 crore.

The average revenue per user