Reliance Jio, the telecom giant owned by Mukesh Ambani, has achieved a new milestone, becoming the world’s largest data consumer, surpassing even Chinese rivals. The company’s quarterly results reveal an astounding 44 exabytes of data consumption, driven by a massive user base of 49 crore subscribers, including 13 crore 5G users. Despite this achievement, Jio lags behind China in 5G services.
Reliance Jio recorded the highest adjusted gross revenue (AGR) at Rs 25,330.97 crore in the March 2024 quarter, while Bharti Airtel saw the sharpest AGR growth. Overall, telecom service providers’ gross revenue grew by 3.01%, with the government collecting over Rs 6,506 crore in licence fees and spectrum usage charges.
Reliance Jio, India’s largest telecom provider, has introduced a range of new unlimited 5G plans starting July 3. The new plans feature increased tariffs, with prices ranging from Rs 189 to Rs 3,599, and offer unlimited 5G data for plans exceeding 2GB daily usage. This move comes after Jio’s successful participation in the recent spectrum auction.
Reliance Jio, led by India’s richest man Mukesh Ambani, has deposited the highest earnest money of Rs 3,000 crore for the 5G spectrum auction, indicating their ambitious plans to expand their high-speed internet network across the country, including rural areas. The auction, which began on Tuesday, involves the sale of airwaves worth Rs 96,317.65 crore for over 10,500 Mhz mobile services, attracting bids from major telecom operators like Jio, Airtel, and Vodafone Idea.
Reliance Jio, India’s leading telecom operator, has surpassed China Mobile as the world’s largest consumer of mobile data. Despite dominance in 5G services, average revenue per user (ARPU) growth remains stagnant. Analysts expect tariff hikes to drive monetization in the future. Jio’s fixed wireless home broadband service, AirFiber, shows strong demand, while rival Airtel posts revenue growth.
Mukesh Ambani, Chairman and Managing Director of Reliance Industries Limited, has expressed satisfaction with the extraordinary success of Reliance Jio, which has now surpassed China Mobile to become the world’s largest mobile operator in terms of data traffic. This remarkable milestone was announced by Jio on Monday, showcasing the company’s impressive quarterly results. As per a press release, the total traffic on the Jio network has reached a staggering 40.9 Exabytes, reflecting a significant 35.2 percent year-on-year increase. Additionally, Jio boasts a strong subscriber base of 481.8 million.
Sanjay Mashruwala, one of the two Managing Directors of Reliance Jio, resigned from the company effective from June 9, 2024. The 76-year-old has been a key executive with Reliance since the time of founder Dhirubhai Ambani and has been involved with several of its projects and business initiatives. The Board of Directors expressed its appreciation for Mashruwala’s contributions to the company’s transformative journey.
Reliance Jio Infocomm, the telecom arm of Reliance Industries, reported a 13.2% rise in fourth-quarter profit on Monday, driven by a surge in subscriber additions. The company’s net profit climbed to 53.37 billion rupees ($640.2 million) in the January-March quarter compared to 47.16 billion rupees in the same period last year.
