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Reliance Jio reports Rs 5583 crore net profit for Q4 FY24

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In Short:

Reliance Jio, India’s largest telecom operator, reported a net profit of Rs 5583 crore in Q4 FY24 with a total subscriber base of 481.8 million. The company added 42.4 million new users and saw 5G contributing to a significant portion of its mobile data traffic. Jio had over 108 million 5G subscribers, the most for any operator outside China. Quarterly revenues were Rs 33,835 crore with an ARPU of Rs 181.7. Jio AirFiber’s 5G FWA service reached 5900 towns and cities. Akash Ambani, chairman of Reliance Jio, highlighted the company’s network leadership and digital solutions driving subscriber growth and engagement.


Reliance Jio Reports Rs 5583 Crore Net Profit in Q4 FY24

Reliance Jio Posts Rs 5583 Crore Net Profit in Q4 FY24

Key Highlights:

Net Profit and Subscriber Base:

Reliance Jio, India’s largest telecom operator, achieved a net profit of Rs 5583 crore in the fourth quarter of FY24. The company’s mobile business now serves a total of 481.8 million subscribers, with the addition of 42.4 million new users during the quarter.

5G networks accounted for over 28% of Jio’s mobile data traffic in the same period, with more than 108 million 5G subscribers, making it the largest 5G subscriber base outside China.

Quarterly Revenues and ARPU:

Reliance Jio reported quarterly revenues of Rs 33,835 crore and a quarterly EBITDA of Rs 14,360 crore in Q4 FY24. The average revenue per user (ARPU) remained flat QoQ at Rs 181.7. Data traffic also saw an increase from 38.1 billion GB to 40.9 billion GB QoQ, with a monthly subscriber churn rate of 1.5%.

Jio AirFiber Expansion:

Jio AirFiber, the telco’s 5G FWA (fixed wireless access) service, expanded its reach to 5900 towns and cities during the quarter.

Statement from Akash Ambani:

Akash Ambani, Chairman of Reliance Jio Infocomm, expressed, “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.”

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