Reliance Jio Q1 profit jumps 46% YoY; ARPU falls to Rs 122
Quarterly ARPU fell for the sixth straight quarter to Rs 122 from Rs 126.2 in the January-March period.
The Mukesh Ambani-controlled company, which has upended the market since its entry in September 2016 with cheap mobile Internet services, posted a net profit of Rs891 crore for the fiscal first quarter, compared with Rs840 crore in the January-March period.
Quarterly ARPU fell for the sixth straight quarter to Rs122 from Rs126.2 in the January-March period.
“Strong momentum continuing in subscriber additions with gross adds of 33.8 million in 1Q FY20,” the company said in a statement Friday.
It added that despite a larger consumer base across tariff plans, customer engagement improved with higher data usage of 11.4 GB per user per month, while VoLTE voice consumption per sub was at 821 minutes per month.