SUMMARY
Speaking at RIL’S AGM, chairman Mukesh Ambani said Jio is on track to provide 5G services across India by December 2023
From December this year, Jio would be able to promptly fulfill all the demands for Jio 5G broadband connection across India
The per-user data consumption on Jio’s network has also surged, with the average user now consuming over 25 GB every month, Ambani said
Telecom giant Reliance Jio has surpassed the 450 Mn subscribers mark, Reliance Industries Ltd (RIL) Chairman Mukesh Ambani said during the 46th annual general meeting (AGM) of the company on Monday (August 28).
“Jio’s overall customer base has now crossed the milestone of 450 Mn subscribers reflecting a year-on-year (YoY) revenue growth of over 20%,” Ambani said.
The per-user data consumption on Jio’s network has also surged with the average user now consuming over 25 GB every month, he informed the company’s stakeholders.
“This translates to a monthly data traffic of 1,100 Cr GB, representing a 45% YoY growth,” Ambani added.
Speaking on the 5G network deployment in the country, Ambani said Jio’s 5G services are already available in 96% of census towns and the company is on track to expand the 5G services across the country by December 2023.
From December this year, Jio would be able to promptly fulfill all the demands for Jio 5G broadband connection across India, he said.
“Today, nearly 85% of the total 5G cells operational in India are in Jio’s Network. At our current pace, we are adding one 5G cell to our network every 10 seconds,” said Ambani, adding that 1 Mn 5G cells are expected to be operational in Jio’s network by December.
It is pertinent to note riding the wave of digitalisation in the country and growing subscribers in the telecom vertical, Reliance Jio Infocomm reported a 12.5% YoY rise in its consolidated net profit to INR 5,098 Cr in the Q1 FY24.
At the end of June 2023, Reliance Jio’s total subscriber base stood at 448.5 Mn as against 419.9 Mn a year ago. In that, the telco saw a net subscriber addition of 9.2 Mn in Q1.
The company also introduced the True 5G Developer Platform and Jio 5G Lab today during RIL’s AGM. It will enable startups and enterprises to develop 5G use cases on Jio’s 5G network, edge computing, and partner solutions.
Today, Ambani also informed that RIL’s broadband internet service JioFiber has crossed 10 Mn subscriptions in India while announcing the launch of a fixed wireless broadband (FWB) offering, Jio AirFiber, on September 19.
Meanwhile, Jio has also unveiled Jio Smart Home Services today, which will be based on JioFiber and Jio AirFiber. It aims to improve home appliance control.
Following the AGM, shares of RIL closed today’s trading session 1.1% lower at INR 2,442.55 on the BSE.
