Jio Platforms Limited (JPL) has released its consolidated results for the fourth quarter (Q4) and year ended March 31, 2022. The company reported a near 23 per cent year-on-year (Y-o-Y) rise in net profit in the fiscal Q4, mainly driven by higher data and voice consumption and growing average revenue per user (ARPU).

However, the telco continued to lose mobile users heavily for the third successive quarter, courtesy more SIM consolidation following December 2021 tariff hike. As per the media release, during Q4, JPL’s consolidated net profit stood at Rs 43.13 billion compared to Rs 37.95 billion in Q3 FY’2021-22 period and Rs 35.10 billion a year ago.

Meanwhile, Jio Platforms’s ARPU grew sequentially to Rs 167.6 from Rs 151.6 in the previous quarter, triggered by a better subscriber mix and rampup of its fibre-to-the-home (FTTH) services. Also, JPL’s standalone net profit for the quarter ended March 31, 2022 stood at Rs 41.74 billion as against Rs 36.17 billion in Q3 and Rs 33.72 billion a year ago.

JPL’s standalone revenue from operations was recorded at 8 per cent higher sequentially at Rs 209.01 billion compared to Rs 193.47 billion in the fiscal Q3 and Rs 173.58 billion in the year-ago period. Jio’s average wireless data consumption per user per month rose to 19.7 GB from 18.4 GB in the fiscal Q3. In addition, the average voice consumption also rose to 968 minutes from 901 minutes per user per month in the previous quarter.

Further JPL’s Q4 earnings before interest, tax, depreciation and amortisation (EBITDA) margin rose marginally to 49 per cent compared with 48.6 per cent in the Q3. Meanwhile, its EBITDA or operating income rose around 9.1 per cent sequentially to Rs 109.18 billion.

This was Jio’s 18th successive quarterly profit, driven by higher EBITDA and lower finance costs. Meanwhile, Jio’s quarterly EBITDA registered a growth of 10.5 per cent sequentially and rose to Rs 105.10 billion.

Of late, Jio has conducted extensive 5G field trials across eight states testing comprehensive suite of products including M-MIMO, macro, outdoor and indoor small cell. Peak user throughput achieved was over 1.5Gbps in these trials and multi-vendor interoperability and interworking has also been verified.