Indian telecom operator Reliance Jio said in a statement recently that it has onboarded more than 10.8 crore subscribers. The announcement was made while declaring the company’s financial results for the quarter ended March 2024.
The company reported a 13 percent YoY rise in net profit to Rs 5,337 crore for the quarter ended March 2024. Meanwhile, the company’s revenue was ₹25,959 crore in the fourth quarter; this marked an 11 percent year-on-year increase from ₹23,394 crore.
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Interestingly, the company’s data traffic witnessed a 35.2 per cent rise year over year in the fourth quarter. The rise went to 40.9 billion GB this quarter from 30.3 billion GB in Q4 FY23. Similarly, the total customer base of the company increased from 470.9 million in Q3 FY24 to 481.8 million in Q4 FY24.
However, the average revenue per user (ARPU) remained the same at Rs 181.7. As per Medianama, the company said that its improved subscriber mix was “partially offset by an increasing mix of promotional 5G traffic, offered unlimited to subscribers, and not yet charged separately.”
The company also reported that approximately 28 percent of Jio's wireless data traffic comes from 5G users. It also mentioned that their own 5G+4G combined core is handling all the 5G data traffic. It has also mentioned that its 5G wireless broadbrand service, JioAirFiber, has been rolled out across 5,900 cities as well as towns.
Mukesh D. Ambani, Chairman and Managing Director, Reliance Industries Limited, said, “Performance of the digital services segment has been boosted by the accelerated expansion of the subscriber base, supported by both mobility and fixed wireless services. With over 108 million True 5G customers, Jio truly leads the 5G transformation in India. From upgrading the hitherto 2G users to smartphones to leading the effort of producing AI-driven solutions, Jio has proved its capability in strengthening the nation’s digital infrastructure.”
