Reliance Jio Platforms revenue in the quarter was driven by an increase in the subscriber base but the average revenue per user, a key metric was virtually flat at ₹178.8, compared to ₹178.2 in the December quarter, though it rose 6.7 percent on the year.
It added over 6 million subscribers in the quarter and 29 million subscribers in the full year to end with 439.3 million users.
“With steady growth in mobility and Fibre-to-the-Home subscriber base and an expanding bouquet of content and digital services, the Jio business continues to deliver impressive growth in operating profits,” CMD Mukesh Ambani said in a statement.
The company has expanded its fifth generation wireless services to about 2,300 cities and towns.
The flat ARPU resulted in Reliance Jio Infocomm reporting a marginal sequential uptick in its net profit and revenue in the March quarter.
The sector leader reported a net profit of ₹4,716 crore on revenue of ₹23,394 crore. In the December quarter, the company reported net profit of ₹4,638 crore on revenue of ₹22,998 crore.
Compared to the year-ago period, net profit rose 13 per cent on the year while revenue was up 12 per cent.
The operating profit margin in the quarter was almost flat at 52.2 per cent sequentially. Operating profit was also flat at ₹12,210 crore. The lowering of tariffs in many of its plans during the year has hit margins.
For the year 2022-23, the company reported a net profit of ₹18,207 crore, up nearly 23 per cent from year ago while revenue was 18 per cent higher at ₹90,786 crore.