Reliance Jio subscriber base reaches 481 million

Delhi Delhi. India’s leading telecom company Reliance Jio saw its subscriber base grow by 42.4 million to 481.8 million in the financial year 2023-24 (FY24), the company’s annual report revealed on Wednesday. Out of the total user base, over 108 million customers have migrated to the 5G network, called Jio’s True5G brand, the report said. With the 5G network rollout, the company now occupies 85 per cent of the country’s 5G capacity. Jio accounts for 60 per cent of India’s data traffic, the report said. “The pan-India rollout of True 5G network was completed in a world record time during this year,” it said. The Jio True5G network now carries about 30 per cent of Jio’s mobility data traffic, and the entire 5G data is now carried on Jio’s own 5G+4G combo core. Reliance said its Jio AirFibre – a wireless broadband service offering high-speed internet connectivity – has also been well received by consumers and has 12 million subscribers in India.

The service is available in 5,900 cities and towns, with an aim to provide pan-India coverage in the future. Besides, JioBharat Phone – an internet-enabled Indogenius model branded as an affordable alternative to smartphones – has “captured 50 per cent market share in the sub-₹1,000 price segment,” the report said. “A smartphone at the price of a feature phone, JioBharat Phone will go a long way in achieving the goal of a 2G-free India,” Reliance Chairman Mukesh Ambani said while addressing shareholders.

Jio 4G was launched in 2016. Overall, Reliance’s digital services this year posted an 11 per cent rise in revenue to $15.9 billion, while its earnings before interest, tax, depreciation and amortisation (EBITDA) rose 12.7 per cent to $6.8 billion. The Mumbai-based multinational conglomerate has businesses in various sectors, including energy, retail, entertainment, petrochemicals, natural gas, telecommunications and mass media.