In a groundbreaking achievement, Reliance Jio, the Indian telecom giant, has surpassed China Mobile to become the world’s largest mobile operator in terms of data traffic. The announcement came on Monday as the network services owned by Reliance revealed its quarterly results, showcasing staggering numbers and milestones achieved in various segments.
Record-Breaking Data Traffic
As mentioned in the press release, the total traffic on the Ambani-backed network service has reached an astounding 40.9 Exabytes, representing a remarkable 35.2 percent year-on-year increase. This surge in data usage highlights Jio’s dominance in the global telecommunications landscape.
Chairman and Managing Director of Reliance Industries Limited, Mukesh Ambani, expressed his happiness with Jio’s success as he said, “Initiatives across RIL’s businesses have made a remarkable contribution towards fostering growth of various sectors of the Indian economy. It is heartening to note that alongside strengthening the national economy, all segments have posted a robust financial and operating performance. This has helped the Company achieve multiple milestones. I am happy to share that this year, Reliance became the first Indian company to cross the ₹100,000-crore threshold in pre-tax profits.” emphasizing its position as the leader in data traffic ahead of China Mobile.
“With over 108 million True 5G customers, Jio truly leads the 5G transformation in India. From upgrading the hitherto 2G users to smartphones, to leading the effort of producing AI-driven solutions, Jio has proved its capability in strengthening the nation’s digital infrastructure.”, he added.
Strong Subscriber Base
The network provider currently boasts of an impressive subscriber base of 481.8 million, making it one of the most widely used networks globally. The company’s relentless efforts to provide affordable and high-speed connectivity have paid off, attracting millions of users across India. With over 108 million True 5G customers, It continues to lead the 5G transformation in the country, from upgrading 2G users to smartphones to pioneering AI-driven solutions.
Jio transforming the Telecommunication Industry
Jio’s impact on the telecommunication industry cannot be overstated. The transition from 2G to 5G, coupled with the exponential growth in smartphone and internet users, has reshaped digital connectivity. During the COVID-19 pandemic, annual data traffic surged by 2.4 times, and the monthly per capita data usage skyrocketed to 28.7 GB, up from just 13.3 GB three years ago. Jio’s commitment to strengthening India’s digital infrastructure has been pivotal in this transformation.
Financial Milestones
Notably, Reliance Industries Limited became the first Indian company to cross the ₹ 100,000-crore threshold in pre-tax profits. Mukesh Ambani acknowledged the collective efforts across RIL’s businesses, contributing to the growth of various sectors in the Indian economy. He emphasized Jio’s role in bolstering the nation’s digital infrastructure and driving economic progress.
As Jio continues to break records and reshaping the future of telecommunications, its impact has extended its arms far beyond India’s borders. With innovation, affordability, and a commitment to connectivity, Reliance Jio remains at the forefront of the digital revolution surpassing all of its competitors.
Reliance Q4 results
This news about Jio came in parallel to the Reliance Industries Ltd (RIL) releasing its fourth quarterly results on 22 April, 2024. The Mukesh Ambani-led conglomerate Reliance Industries Limited (RIL) posed 11 per cent rise in consolidated revenue from operations at ₹2.40 lakh crore for the quarter ended 31 March 2024. Analysts expected the firm to report a 5-10 per cent drop in year-on-year (YoY) consolidated profit growth for the fourth quarter and Ebitda margin to range in the 18-18.5 per cent.
Oil and Gas Segment’s quarterly revenue is reported to be at ₹6,468 crore ($ 775 million), up 42.0% YoY. W hilw the shares of Reliance Industries have escalated to 13.58 per cent in 2024 The BSE oil & gas index is up 22 per cent during the same period.
Analysts expect price of Jio network services to increase in FY25 and possibly again in FY26.
On the Q4FY24 results, the firm’s owner and India’s Richest businessman- Mukesh Ambani said, “Performance of the digital services segment has been boosted by accelerated expansion of subscriber base, supported by both mobility and fixed wireless services. With over 108 million True 5G customers, Jio truly leads the 5G transformation in India. From upgrading the hitherto 2G users to smartphones, to leading the effort of producing AI-driven solutions, Jio has proved its capability in strengthening the nation’s digital infrastructure.”
