JIO'S TRUE 5G has scaled up rapidly to deliver one-fourth of wireless data traffic
FinTech BizNews Service
Mumbai, January 20, 2024: The JIO Platforms Limited has announced its financial and operational performance of for the quarter and nine months ended 31st December 2023.
CONSOLIDATED JIO PLATFORMS LIMITED (“JPL”)
QUARTERLY REVENUE AT Rs 32,510 CRORE, UP 11.4% Y-o-Y. QUARTERLY EBITDA AT Rs 13,955 CRORE, UP 11.5% Y-o-Y.
JIO continues to outpace competition; NET adds at 10 quarter high. JIO’S TRUE 5G has scaled up rapidly to deliver one-fourth of wireless data traffic. JIOAIRFIBER is ahead of jiofiber on customer engagement metrics; sees extensive demand in underserved tier 3/4 towns and rural markets. JIOBHARAT has over 45% market share in the sub – Rs 1,000 segment.
Quarterly Performance (3Q FY24 vs 3Q FY23)
• Operating revenue (net of GST) growth continued to be driven by robust subscriber growth across mobility and homes, and benefit of mix improvement in ARPU.
• Double-digit EBITDA growth led by higher revenue and increase in margins.
• Depreciation increased due to higher network utilisation and incremental addition to the gross block.
5G rollout accelerated the subscriber addition momentum and Jio continued to outpace competition with 11.2 million net additions in 3Q FY24. Monthly churn was 1.7%.
• ARPU increased 2.0% Y-o-Y to Rs 181.7 with better subscriber mix partially offset by unlimited data allowance on 5G network.
• Engagement on Jio network remained strong, total data and voice traffic increased 31.5% and 7.9% Y-o-Y, respectively.
STRATEGIC PROGRESS
• Jio has rolled out Jio True 5G network across India ahead of schedule. About 90 million subscribers have been migrated to Jio’s 5G network. The Jio True 5G network now carries almost one-fourth of Jio’s mobility data traffic and the entire 5G data is now carried on Jio’s own 5G+4G combo core.
• JioBharat platform now has 3 SKUs with price points ranging from Rs 999 to Rs 2,599, providing more choices to customers. JioPhone Prima, the latest addition to the platform gives access to apps like Youtube, Facebook and WhatsApp, along with Jio Entertainment Apps. Discussions are ongoing with multiple partners/ OEMs to expand the platform further and accelerate the transition towards 2G Mukt Bharat. JioBharat has over 45% market share in the sub Rs 1,000 segment.
• JioAirFiber is now available in over 4,000 cities/ towns, with pan-India coverage expected in 1H’CY24. Early signs of demand and customer engagement have been encouraging. Content bundling is driving a 30% higher per capita usage on JioAirFiber vs JioFiber
• Jio announced the introduction of JioTV Premium plans for prepaid mobile users providing access to premium content from up to 14 OTT platforms, along with voice and data benefits. These plans offer the convenience of accessing content from multiple OTT apps in one place through the JioTV app. Jio users would have the flexibility of choosing monthly, quarterly or annual subscriptions starting at Rs 398 and would also get one-click call center support which is an industry first in prepaid segment.
• TM Forum, the leading global alliance of telco and tech companies and Jio opened an Innovation Hub in Mumbai during the quarter. The Innovation Hub, the first of its kind for the industry, will focus its first efforts on accelerating the development of Generative AI (Gen AI) and Large Language Models (LLM) and Open Digital Architecture to benefit the whole industry.
• During the quarter, Jio also announced a partnership with network services and consumer experience pioneer Plume to provide market-leading smart home and small business services to its subscribers across India. With this partnership, Jio will deploy HomePass and WorkPass consumer services enabled by Plume’s AI-powered and cloud-based platform, including whole-home adaptive WiFi, connected device and application performance optimization, cyberthreat protection for connected devices, advanced parental controls, and WiFi motion sensing. Access to Plume’s Haystack Support and Operations Suite will also enhance Jio’s customer support and operations and improve overall customer experience. D.
Akash M Ambani, Chairman of Reliance Jio Infocomm said “Jio has accomplished the fastest rollout of 5G network witnessed anywhere in the world and is now available across India. JioAirFiber has seen strong initial demand and customer engagement, especially in underserved tier 3/4 towns and rural areas. Jio’s ahead of the curve investments on next-generation network, digital technologies and tailor-made products for all customer cohorts will ensure sustainable industry leading growth in coming years.”
