Jio Platforms has revealed how it achieved 18 percent rise in revenue for the quarter ended September 2024.
Jio Platforms, the #1 telecom operator in India, has reported revenue of $4.43 billion (up 17.7 percent), EBITDA of $1.9 billion (up 17.8 percent) and net profit of $780 million (up 23.4 percent, highlighting the company’s robust performance in a competitive telecom market.
Jio Platforms said 148 million subscribers have migrated to Jio True5G, contributing ~34 percent of wireless data traffic during the quarter. Reliance Jio does not reveal its Capex (capital expenditure) in mobile network.
Jio also saw significant growth in customer engagement, with total data traffic rising by 24 percent to 45 billion GB and voice traffic increasing by 6.4 percent year-over-year to 1.42 trillion minutes.
Reliance Jio is the fastest growing fixed wireless operator globally with 2.8 million JioAirFiber connections as of September 2024. Jio says it’s gearing up for 100 million connected homes. Jio said scale up of distribution, optimized onboarding process and technology edge would enable Jio to connect over 1 million homes every month.
JioTV+ app is available for free download on all leading Smart TVs without Set Top Box or additional JioAirFiber / JioFiber connection This allows users to connect multiple TVs with one connection and access 800+ Digital TV channels and 13+ OTT apps.
Jio said its enterprise business is gaining market share. Jio, which competes with Airtel, Vodafone, Sify, Tata Communications, among others, is positioning as a managed services partner with enhanced product portfolio. Jio won several new enterprise deals for its digital portfolio that includes CPaaS, IoT and Managed Wi-Fi.
Jio says high bandwidth links contribute 50 percent + of SMB segment as Jio becomes operator of critical links.
Jio’s subscriber base grew by 4.2 percent year-over-year, reaching 478.8 million at the end of September 2024. Although there was some SIM consolidation following a tariff hike in the second quarter of FY25, it was largely balanced by the strong addition of new subscribers. Despite this, the monthly churn rate increased slightly to 2.8 percent.
The average revenue per user (ARPU) increased to ₹195.1, reflecting the initial effects of the tariff hike and an improved subscriber mix. The full impact of the tariff hike is expected to materialize over the next two to three quarters.
