Jio Platform, the holding company for India’s largest mobile phone operator, said fiscal fourth-quarter net profit rose 12 percent from a year earlier to Rs 5,583 crore on strong subscriber additions as well as a ramp-up of wireline services, leading to a better subscriber mix.
Jio Platforms' EBIDTA for quarter ended March 2024 increased by 12.5% Y-o-Y to Rs 14,360 crore on account of higher revenue and consistent improvement in margins.
Reliance Jio's average revenue per user reached Rs 181.7 in the fourth quarter ended March 31, 2024. The better subscriber mix was partially offset by the increasing mix of promotional 5G traffic, which is offered unlimited to subscribers and not yet charged separately.
Jio’s ARPU was Rs 178.8 in a year earlier period.
Jio said that customer engagement levels continued to remain strong with total data traffic increasing by 35.2% Y-o-Y to 40.9 billion GB during the quarter, and voice traffic increasing 9.7% Y-o-Y to 1.44 trillion minutes.
The telco’s pan-India True5G network now has over 108 million subscribers. Jio’s 5G network now carries over 28% of the telco’s wireless data traffic, with the entire 5G data being carried on its own 5G+4G combo core.
The telecom operator reported an industry-leading subscriber addition of 42.4 million during FY2024 and an addition of 10.9 million during Q4 FY2024, outpacing the competition.
“Jio continues to maintain its network leadership and offer innovative digital solutions to multiple customer cohorts. This is driving consistent
outperformance in terms of subscriber additions and engagement levels. Continued acceleration in growth of JioAirFiber subscriber base and ramp-up of digital services will sustain industry-leading growth for Jio,” Akash M Ambani, Chairman of Reliance Jio Infocomm said in a statement.
Jio’s fixed wireless access (FWA) service, JioAirFiber, is now being offered across ~5,900 cities/ towns, with further ramp-up towards pan India coverage soon.
The telco said that customer demand and engagement have been strong with JioAirFiber’s unique proposition as an entertainment-first product bundled with broadband connectivity.
“Average daily data usage for AirFiber subscribers is at ~13 GB, which is 30% higher than JioFiber subscribers. Network slicing on Standalone 5G network and Jio’s unique point-to-multipoint deployment is transforming fixed broadband infrastructure in India,” it said in the statement.
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