Reliance Jio, one of India’s leading telecom operators, has disclosed that its customer base, combining 4G and 5G subscribers, has surged to 470.9 million as of the end of December 2023.
The company’s 5G rollout has contributed to this achievement, propelling subscriber additions to 11.2 million during the third quarter of the fiscal year 2024, outpacing competitors such as Bharti Airtel, Vodafone Idea and BSNL. Reliance Jio has 90 million 5G customers on its network.
Monthly churn for Reliance Jio stood at 1.7 percent.
The Average Revenue Per User (ARPU) experienced a 2.0 percent Year-on-Year increase, reaching ₹181.7. The surge in ARPU can be attributed to a better subscriber mix, although it was partially offset by the provision of unlimited data on the 5G network. Notably, data traffic reached 38.1 billion GB during the October-December quarter of 2023, with the 5G network accounting for one-fourth of mobility data traffic.
Reliance Jio asserts its 5G availability is three times that of its nearest competitor, Airtel, and its overall download speed is twice as fast. The company’s superior network has fueled customer base growth, while competitors have witnessed a decline. Reliance Jio does not reveal its investment on network expansion in India.
Jio continues to dominate the Indian telecom market for new 5G devices, thanks to its superior coverage and capacity, resulting in a net port-in rate 2.5 times higher than its closest competitor Airtel. JioBharat users contributed to 60 percent of total UPI123 Pay transactions in December 2023, and JioBharat holds over 45 percent market share in total feature phone shipments in the sub-₹1,000 price segment.
The wireless rural net additions for Jio have grown to 5.2 times that of its nearest competitor Airtel since launch. Jio AirFiber is experiencing extensive demand in underserved tier 3/4 towns and rural markets, with its unique multi-user solution driving the most cost-effective Fixed Wireless Access (FWA) rollout globally.
In terms of content bundling, Jio AirFiber boasts about a 30 percent higher per capita usage compared to JioFiber, indicating strong customer engagement. Voice traffic on the Jio network reached 1.37 trillion minutes during the October-December quarter of 2023, with total data and voice traffic increasing by 31.5 percent and 7.9 percent Year-on-Year, respectively.
Reliance Jio rolled out its Jio True 5G network across India ahead of schedule, migrating approximately 90 million subscribers to the 5G network. This network carries almost one-fourth of Jio’s mobility data traffic, Reliance Jio said in its analyst report.
Akash M Ambani, Chairman of Reliance Jio Infocomm, expressed, “Jio has accomplished the fastest rollout of 5G network witnessed anywhere in the world and is now available across India.”
Reliance Jio’s financial performance for the October-December quarter of 2023 reflects a gross revenue of Rs 32,510 crore, with a net profit of Rs 5,445 crore, solidifying its position as the #1 mobile operator in the telecommunications industry.