Jio reports 23% rise in net profit, loses 11 million mobile users

The company said Covid-19 impact in the previous quarter led to a churn of low-end subscribers and resulted in a fall of customer base.

Reliance Jio Platform’s net profit rose 23.4 per cent to Rs 3,728 crore in the second quarter of the 2021-22 financial year (Q2FY22) on a year-on-year basis, driven by better customer mix and increase in data consumption. In the corresponding quarter last year, the company had posted a net profit of Rs 3,019 crore.

Jio, which added 34 million customers in three previous quarters, reported a surprise decline in its customer base in the second quarter. The country’s largest telecom operator blamed “Covid-19 impact” as it lost 11.1 million customers during this quarter on a sequential basis. At the end