Revenue for JIO PLATFORMS LIMITED (“JPL”) increased by 11.7% Y-o-Y, led by robust subscriber growth of 42.4 million across mobility and homes and benefit of mix improvement in ARPU
FinTech BizNews Service
Mumbai, April 22, 2024: Reliance Industries Limited, today announced the financial and operational performance of Reliance Industries Limited (RIL) for the quarter and year ended 31st March 2024.
o Revenue for JIO PLATFORMS LIMITED (“JPL”) increased by 11.7% Y-o-Y, led by robust subscriber growth of 42.4 million across mobility and homes and benefit of mix improvement in ARPU.
Quarterly Revenue At Rs 33,835 Crore, Up 13.3% Y-O-Y
Quarterly Ebitda At Rs 14,360 Crore, Up 12.5% Y-O-Y
Industry Leading Subscriber Growth With Net Additions Of 42.4 Mn During Fy24
5g Adoption And Home Scale Up Drives Data Traffic To 148 Exabytes In Fy24, +31% Yoy
Jio Continues To Drive India’s Transition Towards 5g With 108 Mn + Subscribers Now
Accounting For 28% Of Jio’s Wireless Data Traffic; Largest 5g Subscriber Base For Any Operator Outside China
JioAirfiber Is Witnessing Healthy Demand Across 5,900 Towns Leading To Highest Ever Quarterly
Annual Performance
• Double-digit operating revenue (net of GST) growth was driven by industry-leading subscriber growth
in mobility and ramp-up of wireline services leading to a better subscriber mix.
• Strong EBITDA growth is on account of higher revenue and consistent improvement in margins.
• Depreciation increase led by higher network utilisation and addition to the gross block.
• Finance cost is broadly flat due to limited change in leverage.
Quarterly Performance (4Q FY24 vs 4Q FY23)
• Operating revenue (net of GST) growth continued to be driven by robust subscriber growth across
mobility and homes, and the benefit of mix improvement in ARPU.
• Double-digit EBITDA growth primarily led by healthy revenue growth and operating leverage.
• Depreciation increase led by higher network utilisation and addition to the gross block.
• Finance cost is broadly flat due to limited change in leverage.
• Network leadership sustains subscriber addition with Jio outpacing competition and adding 10.9
million net subscribers during Q4’FY24. Monthly churn was 1.5%.
• ARPU was Rs 181.7 with better subscriber mix partially offset by increasing mix of promotional 5G
traffic, offered unlimited to subscribers and not yet charged separately.
• Engagement levels continued to remain strong with total data and voice traffic increasing by 35.2%
and 9.7% YoY, respectively.
HOME CONNECTS
Digital Services Scaling Up With Jio Platforms’ Standalone Quarterly Revenue Up 64% Yoy
STRATEGIC PROGRESS
• Jio has rolled out its True5G network across India, with 108 million+ subscribers migrated to Jio’s 5G
network. The Jio True 5G network now carries ~28% of Jio’s wireless data traffic, with the entire 5G
data being carried on Jio’s own 5G+4G combo core.
• JioAirFiber services are now being offered across 5,900 cities/ towns, with further ramp-up towards pan India coverage soon. Customer demand and engagement have been strong with JioAirFiber’s
unique proposition as an entertainment-first product bundled with world-class broadband connectivity.
Average daily data usage for AirFiber subscribers is at 13 GB, which is 30% higher than JioFiber
subscribers. Network slicing on Standalone 5G network and Jio’s unique point-to-multipoint deployment is transforming fixed broadband infrastructure in India.
• During the quarter, Jio introduced the IPL Dhan Dhana Dhan offer for new JioBharat device users,
offering an additional two months of free service on a recharge of the new two-month plan of Rs 234.
• Jio also introduced the Dhan Dhana Dhan 50-day free service offer for all its mobility users who are taking new JioAirFiber/ JioFiber connections. In addition, new JioAirFiber plus subscribers would enjoy 3x speeds for two-month period.
• During the quarter, Jio introduced affordable international roaming and in-flight packs with bundled
voice and data for seamless travel across USA, UAE and other Top-50 countries. In-flight packs are
being offered in partnership with 22 airlines.
LEADERSHIP QUOTE
Mr. Akash M Ambani, Chairman of Reliance Jio Infocomm said “Jio continues to maintain its network
leadership and offer innovative digital solutions to multiple customer cohorts. This is driving consistent
outperformance in terms of subscriber additions and engagement levels. Continued acceleration in growth of JioAirFiber subscriber base and ramp-up of digital services will sustain industry-leading growth for Jio.”
