In a riveting update at the 47th AGM, Reliance Industries Chairman Mukesh Ambani announced that Reliance Jio has ascended to unparalleled heights, becoming the world’s largest data network while catalyzing India’s transformation into the largest data market globally. With the triumphant completion of its nationwide 5G rollout, the telco now boasts over 130 million 5G users, eyeing massive growth in home broadband services targeting 1 million new customers monthly. As 5G adoption soars, Jio’s strategic position to absorb 200 million 2G users opens new vistas, solidifying its dominance in the digital era.

Jio Platforms (JPL), the holding company for Jio and other digital businesses of the Reliance group, has also become among the top-12 companies in India by net profit, Ambani said. JPL reported an 11.7 percent year-on-year (Y-o-Y) increase in net profit to Rs 5,698 crore for the first quarter of the current financial year (Q1FY25) on robust subscriber growth, he added.

Announcing that the telco has completed its pan-India 5G rollout, Ambani hinted that material and capex deployment towards this would begin to ease now. The telco currently has more than 130 million 5G users and over 85 percent of the 5G radio cells belong to it, he said.

The RIL chairman stressed the company is keeping the home broadband business front and centre and is targeting 1 million new home broadband services every month. Jio currently has nearly 30 million home customers across digital broadband and digital TV services.

JioAirFiber, the company’s 5G-based home Wi-Fi service launched in October last year, acquired 1 million customers in the first six months, and the next 1 million in the succeeding 100 days, Ambani said.

At the AGM, Reliance Jio Chairman Akash Ambani announced a bouquet of new offerings in the home entertainment space, including Jio TvOS, a new operating system for Jio TV. He also unveiled the Jio TV+, a bundled offering, including content from over a dozen OTT apps, hundreds of live TV channels, and a library of on-demand movies and shows.

Over a million small and medium businesses in India have embraced Jio and it is the trusted partner for over 80 percent of the top-5,000 large enterprises in the country, the RIL chairman said. “We are also targeting over 20 million small and medium businesses, bringing them the connectivity to thrive in today’s digital age,” he added.

As more users migrate to 5G, Jio’s 4G network’s capacity is opening up, uniquely positioning the telco to absorb over 200 million 2G users in India, Ambani said.

The industry-wide tariff hikes, which took effect from July, have seen rival Bharti Airtel raising tariffs by a lesser margin than Jio’s 12-25 percent. However, Airtel’s hike included its 2G subscriber base as well, a category Jio did not touch.

“Nearly all smartphones over Rs 8,000 sold in India are 5G-ready. As 5G phones become more affordable, 5G adoption on Jio’s network will accelerate, further boosting data consumption. With Jio’s lead in 5G coverage, capacity, and quality, we expect to capture the lion’s share of the accelerating 5G adoption,” Ambani said.

The company’s efforts are being boosted by its JioBharat phones, launched last year, Ambani said. “Today, nearly half of 2G customers upgrading their devices choose JioBharat,” he added.

1 mn: Subscribers JioAirFiber aims to add in the next 100 days

1 mn: Customers it acquired during the first six months of launch

130 mn+: Jio’s 5G users

It has completed its pan-India 5G rollout

First Published: Aug 29 2024 | 7:18 PM IST