Jio Surpasses 10.8 Cr Users on High-Speed 5G Network

In a recent update on its 5G progress, telecom giant Reliance Jio revealed that it has successfully brought aboard over 10.8 crore users onto its lightning-fast internet platform. This exciting announcement came alongside the release of its financial report for the quarter ending in March 2024.

According to Mukesh Ambani, the Chairman and Managing Director of Reliance Industries Ltd (RIL), the expansion of Jio’s digital services segment has been fueled by a rapid increase in its customer base. This growth has been supported by both mobile and fixed wireless services. Ambani proudly stated, “With a staggering 108 million genuine 5G subscribers, Jio stands at the forefront of India’s 5G revolution.”

The company reported that 28% of Jio’s wireless data traffic is attributed to 5G users. It was noted that all 5G data is being transmitted through Jio’s own 5G+4G combo core. This combo core is Jio Platforms’ cloud-native solution that enables the deployment of both 5G and 4G services.

Related: Jio Financial Services Q4 Profit Jumps 6% to ₹311 Cr

The company proudly announced the expansion of its 5G wireless broadband service, JioAirFiber, reaching nearly 5,900 cities and towns. Jio Platforms aims to extend this coverage nationwide very soon. Jio revealed that AirFiber subscribers are consuming an average of almost 13 GB of data daily, surpassing JioFiber subscribers by 30%, according to the company’s data.

In the fourth quarter of the fiscal year 2023-24, Jio Platforms, the digital arm of the conglomerate, sustained robust growth. The net profit surged by 12% year-on-year (YoY) to INR 5,583 Cr, while revenue from operations increased by 13.4% to INR 28,871 Cr from INR 25,465 Cr in the same period last fiscal year.

The increase in operating revenue was primarily due to strong subscriber growth in both mobility and fixed wireline services, as well as an improvement in the average revenue per user (ARPU) mix.

In the fourth quarter of FY24, Jio Platforms saw an increase in ARPU to INR 181.7 per month from INR 178.8 in the same quarter of the previous year. There was no change in this metric on a sequential basis. The telco’s customer base remained around 48.18 million at the end of the March 2024 quarter.

Reliance Jio Infocomm’s chairman, Akash Ambani, highlighted Jio’s ongoing network dominance and commitment to cutting-edge digital solutions for diverse customer groups. This dedication has fueled consistent growth in customer numbers and interaction levels. Akash Ambani emphasized the sustained expansion of JioAirFiber subscribers and the advancement of digital services, ensuring Jio maintains its leading position in the industry.

In the fiscal year 2024, Reliance Industries Limited (RIL) witnessed a 2.6% increase in consolidated operating revenue, reaching INR 9.14 Lakh Cr, alongside a 7.3% rise in net profit to INR 79,020 Cr.

Reliance Jio’s significant 5G milestone includes over 108 million genuine 5G subscribers, with 28% of wireless data traffic attributed to 5G users. The company’s advanced 5G wireless broadband service, JioAirFiber, is expanding rapidly. In the fiscal year 2023-24, Jio Platforms achieved substantial financial growth, with a 12% year-on-year net profit surge and an increase in average revenue per user. Reliance Jio Infocomm’s commitment to cutting-edge digital solutions has fueled consistent customer growth and interaction levels, while Reliance Industries Limited witnessed a 2.6% increase in consolidated operating revenue and a 7.3% rise in net profit.