Jio Platforms reports 26% net profit growth in Q3 driven by tariff hikes and subscriber increases

Jio Platforms Ltd (JPL), which houses Reliance Industries’ telecom and digital properties, posted a 25.95% 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 helped Jio grow average revenue per user(ARPU) 4.2% on-quarter to Rs 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.

JPL’s consolidated net profit climbed to Rs 6861 crore in the December quarter from Rs 5447 crore a year earlier, and Rs 6539 crore in the previous three months, it said in a statement Thursday.


“Robust growth in digital services business was led by sustained subscriber addition and consistent improvement in customer engagement metrics. This was well supported by a favorable subscriber mix, with an increasing number of users upgrading to 5G networks. Jio’s compelling offering of home broadband services also continued to rapidly gain ground and maintain its pre-eminent market position,” said Mukesh Ambani, chairman and managing director, Reliance Industries.