Reliance Industries Limited (RIL) has announced quarterly results for Q1 FY25. With that, Jio results are out as well. Reliance Jio, India's largest telecom operator, has posted a net profit of Rs 5,693 crore. This is 11.7% higher than Rs 5,809 crore a year back during the same quarter. While the gross revenue levels went up by 12.8% YoY to Rs 34,548 crore, the finance costs along with tax expenses went up by almost the same margin as well. The EBITDA (earnings before interest, tax, depreciation, and amortisation) percentage stayed almost flat.
The company is now the largest 5G operator in the world outside China. Jio said it has 130 million 5G subscribers and 5G now accounts for telco's 31% of the total wireless traffic. The entire 5G traffic of Jio is being carried on its own 5G+4G core. In terms of data traffic, Jio said that it has become the largest operator in the world. For Jio, per capita consumption increased to 30.3GB per month or more than 1GB data every day.
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However, the company's ARPU (average revenue per user) figure remained flat QoQ at Rs 181.7. In the coming quarters, Jio should see an improvement in the ARPU and overall revenue levels with the arrival of tariff hikes.
One impressive feat for the company was adding more than 40 million customers in a year. At the end of Q1 FY25, Jio's customer base stood at 489.7 million, which is only 10.3 million shy of reaching the 500 million users milestone. Jio saw an increase in overall data traffic and voice traffic boosted by the widespread of 5G networks.
Owing to Jio AirFiber, Jio witnessed its highest-ever quarterly home connections at over 1.1 million.
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Akash Ambani, Chairman of Reliance Jio Infocomm, said, "Ubiquitous, high-quality, affordable internet is the backbone of Digital India and Jio takes pride in contributing to this. Our new prepaid plans would foster industry innovation towards 5G and AI and drive sustainable growth. Jio with its superior network and new service propositions would further build its market leadership with a customer first approach."
