Jio Faces Loses, More Than 1 Million Customers After Raising Prices But Still Makes Money!
Reliance Jio faces lost over 10.9 million subscribers this quarter due to tariff hikes, totaling 478.8 million. However, it gained 5G users and netted ₹6,536 crore in profit.
Updated: Oct 21, 2024, 22:23 IST
Jio Faces Subscriber Losses but Sees Profit Growth Amid Tariff Hikes
Reliance Jio reports a loss of over 10.9 million subscribers this quarter due to recent price increases. However, the company benefits from rising 5G subscribers and higher Average Revenue Per User (ARPU), resulting in a net profit of ₹6,536 crore.
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Despite Losing Over 1 Million Customers, Jio's 5G Growth and Revenue Rise
Jio's total subscriber count has decreased to 478.8 million; however, the telecom giant has seen significant growth in its 5G customer base. This increase in 5G subscribers, coupled with a rise in Average Revenue Per User (ARPU), has ensured that Jio remains profitable. The company continues to focus on expanding its services and maintaining financial strength despite the overall drop in its subscriber numbers.
