Jio Platforms' net profit up 8.8% to Rs 3,795 crore in third quarter

Clocks Rs 3,795 cr but sees fall in customers for 2nd quarter

Reliance Jio’s net profit rose 8.8 per cent to Rs 3,795 crore in the third quarter of FY22 on a year-on-year (YoY) basis, driven by revenue growth and increase in data consumption.

Jio, however, reported a fall in customers for the second consecutive quarter amid the launch of its affordable smartphone JioPhone Next.

The company’s customer base fell sequentially by 8.5 million due to SIM consolidation and what the company described as “repurposing of customer retention efforts.” In the second quarter, the company had reported a decline of 11 million subscribers.

Revenue from operations for the quarter grew 5.7 per cent to Rs