Reliance Jio, India’s telecom giant, has achieved a significant milestone by becoming the world’s largest mobile operator in terms of data traffic, surpassing China Mobile. This achievement was announced during Jio’s quarterly results announcement, highlighting the company’s remarkable growth and achievements across various segments.
As of March 2024, Jio boasts a subscriber base of 481.8 million, with 108 million subscribers on its True5G Standalone network, showcasing its dominance in the Indian telecom market. The total traffic on the Jio network has reached 40.9 Exabytes, marking a 35.2 per cent year-on-year increase, driven by the growing adoption of 5G and Home services.
Approximately 28 per cent of the traffic comes from 5G subscribers, indicating a rapid transition towards next-generation connectivity. Jio’s Fixed Wireless Access (FWA) services have also contributed significantly to the data traffic.
Since the onset of the COVID-19 pandemic, there has been a dramatic 2.4x increase in annual data traffic, with per capita monthly data usage soaring to 28.7 GB from just 13.3 GB three years ago, underscoring the increasing reliance on digital connectivity in India.
Mukesh D Ambani, Chairman and Managing Director of Reliance Industries Limited, expressed satisfaction with the company’s performance and its contribution to the Indian economy. He highlighted Reliance’s significant achievements, including being the first Indian company to cross the Rs 100,000-crore threshold in pre-tax profits.
Ambani emphasized Jio’s role in driving digital transformation in India, from upgrading 2G users to smartphones to leading the effort in producing AI-driven solutions. He reiterated Jio’s commitment to strengthening the nation’s digital infrastructure and providing innovative solutions to consumers.
Reliance Retail, the company’s retail arm, also showed robust growth, with a 36 per cent increase in footfalls and strong digital commerce platforms offering a broad brand catalogue.
In addition to its telecom and retail segments, Reliance Industries Limited has shown resilience in its Oil to Chemicals (O2C) segment, achieving significant production milestones in the KG-D6 block, which now accounts for 30 per cent of India’s domestic gas production.
Financially, Reliance Jio has achieved several remarkable milestones, with consolidated EBITDA at Rs 178,677 crore and consolidated Profit Before Tax (PBT) surpassing Rs 100,000 crore. The company’s market capitalization has also crossed Rs 20,00,000 crore, solidifying its position as one of India’s most valuable companies.