RIL announced that its telecom unit, Jio Platforms Limited, which includes Jio's digital services, reported a quarterly profit of Rs 6,536 million, backed by an Average Revenue per User (ARPU) of Rs 195.1 for the quarter ended September 30, 2024. The company said that the full impact of the tariff hike would materialise over the next 2-3 quarters. Overall, the company reported a total subscriber base of around 479 million as of September 2024, with 148 million subscribers upgrading to 5G, contributing to around 34 percent of wireless data traffic.
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Fastest Growing Fixed Wireless Operator
Additionally, Jio claimed to be the fastest-growing fixed wireless operator globally, with over 2.8 million JioAirFiber connections. The company noted that per capita data consumption increased to 31GB per month, driven by a higher mix of 5G and home users.
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"Our performance reflects robust growth in Digital Services and Upstream business. This helped partially offset weak contribution from O2C business which was impacted by unfavourable global demand-supply dynamics," said chairman and managing director Mukesh Ambani.
"Growth in Digital Services was led by increased ARPU and improving customer engagement metrics reflecting the strong value proposition of our services. The home broadband segment is witnessing accelerated momentum on the back of our unique industry-leading JioAirFiber offering. Jio’s broad spectrum of offerings enables it to digitally empower every village, town and city in India as well as the country’s small and medium-scale enterprises. The digital services business continues to focus on innovative deep-tech solutions on a national scale and is on track to deliver the path-breaking benefits of Artificial Intelligence to all Indians," Ambani added.
AirFiber Plans: Jio AirFiber Plans and OTT Benefits Detailed for September 2024
The company also noted that a limited amount of SIM consolidation was observed following the recent tariff hike.
"Jio has transformed India from 5G-dark to 5G-bright through unmatched spectrum holdings, 5G Standalone Architecture, and advanced technologies like Carrier Aggregation and Network Slicing," the company said.
In its report, RIL said, "JioAirFiber's rapid uptake has significantly accelerated the pace of home connections, with around 2.8 million connected homes by JioAirFiber as of September 24. Jio's pace of home connections is the fastest of its kind globally. Scaling up distribution, continuous optimisation of the onboarding process, and technology edge would enable Jio to achieve the target of connecting 100 million homes in India at record speed."
Akash M Ambani, Chairman of Reliance Jio Infocomm, remarked, "Right from inception, Jio has focused on deep tech innovation to create value for customers and shareholders. The ongoing transformation brought about by Jio True5G and JioAirFiber in India's digital landscape is a testament to this approach. AI is creating the next avenue for this transformation, and Jio is committed to developing the world's best AI ecosystem in India for all Indians."
Also Read: Jio AirFiber Service is Now Available PAN India
JioCinema Surges in Paid Subscriptions
In the Media segment, RIL reported that JioCinema crossed 16 million paid subscribers, continuing to be the fastest-growing subscription video-on-demand (SVOD) OTT platform in the country. "JioCinema's recently launched SVOD plans have gained strong traction, helping it become the fastest-growing subscription-based OTT platform in the country," RIL said.
"International content catalogue on JioCinema was amongst the top drivers of subscriber acquisition during the quarter. Affordable monthly subscription plans of Rs 29/month and Rs 89/month (family plan) helped increase the sampling for behind-the-paywall content," the company added.
