Telstra made a tidy profit but will jack up phone plan pricing anyways

Telstra announced their results for the 2022-2023 financial year yesterday and they made a bumper $2.1b profit, up 13.3% compared to last year. The mobile phone part of the business made up almost half of Telstra's revenue and ARPU for postpaid is up, along with profit margins. Despite this, Telstra still plans to jack up the price "in line with the consumer price index", blaming it on an increase in the costs of doing business. Mentioned in the results is a neat stat that mobile data use is up 35% and 41% of Telstra's mobile traffic is on 5G. Telstra also decided that it will not be selling off its majority stake in InfraCo Fixed (the holding company that owns all of Telstra's fixed line infrastructure - Amplitel is the holding company that owns all its mobile phone towers) saying that there is "strong customer demand for our infrastructure". No shit. People need internet and Telstra has a lot of internet.