Jio Emerges As World’s Fastest Growing 5G FWA Provider

Reliance Jio Infocomm, the telecom arm of Mukesh Ambani’s Reliance Industries, claims to be the world’s fastest growing 5G fixed wireless access (FWA) provider with more than 2.8 Mn JioAirFiber connections as of quarter ended September 30, 2024 (Q2 FY25).

Reliance Jio expanded its subscriber base 3X with Air Fiber over the past four quarters, as per the company’s Q2 earnings statement.

Now, Jio is gearing up for 100 Mn subscribers and aims to add over 1 Mn users every month to its 5G-based JioAirFiber and wired JioFiber broadband services.

“Scale up of distribution, optimized onboarding process and technology edge would enable Jio to connect over 1 Mn homes every month,” the company said.

Jio continues to build on its market leadership with pan India 5G services with over 148 Mn subscribers switching to 5G and accounting for 34% of wireless data traffic.

The company reported a strong 7.4% year-on-year growth in average revenue per user (ARPU) to INR 195.1 in the September quarter. Jio said that the full impact of tariff hike will flow through in the next 2-3 quarters.

Jio also saw a healthy 4.2% YoY increase in its customer base to 478.8 Mn during the quarter under review. 

According to Mukesh Ambani, the chairman and managing director of Reliance Industries, the company once again benefited from its diversified business portfolio, with robust growth in digital and upstream business compensating the weak performance of its oil-to-chemicals business.

Reliance Jio saw its consolidated net profit jump over 23% to INR 6,539 Cr in Q2 FY25 compared to INR 5,299 Cr in the year-ago period. It also reported a strong 18% YoY increase in operating revenue at INR 31,709 Cr.

The company’s EBITDA rose nearly 18% YoY to INR 15,931 Cr in the second quarter of FY25 from INR 13,528 Cr in the corresponding quarter last year. 

Inc42 reported earlier that the digital and new commerce business made up 17% of Reliance Retail’s total revenues in Q2 FY25.