Surge in tariff, users and data lifts Jio net up 26%
Reliance Industries' telecom and digital businesses, posted a 26% on-year rise in net profit in the fiscal third quarter, on the back of the tariff hikes of July 2024, subscriber additions and strong data usage growth.
The rate hikes partly helped Jio grow average revenue per user(ARPU) 4.2% on-quarter to ₹203.3. But the full beneficial impact of the price hikes will be staggered, and likely to come through Q4FY25 and Q1FY26, since Jio has a higher share of subscribers on longer-validity plans compared to Bharti Airtel or Vodafone Idea, said analysts.
JPL's consolidated net profit climbed to ₹6,861 crore in the December quarter from ₹5,447 crore a year earlier, and ₹6,539 crore in the previous three months, it said in a statement Thursday.
JPL reported a 19.41% on-year growth in revenue from operations at ₹33,074 crore during the quarter, reflecting continued data usage and ramp-up of 5G-based fixed wireless access (FWA) services.
«Robust growth in digital services business was led by sustained subscriber addition and consistent improvement in customer engagement metrics,» said Mukesh Ambani, chairman and managing director, Reliance Industries, the parent of JPL.
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