Reliance Jio Infocomm Limited has released its unaudited standalone financial results for the quarter and nine months ended December 31, 2023. The company reported a net profit of Rs 52.08 billion during the reported quarter. Its revenue from operations rose to Rs 253.68 billion during the quarter compared with Rs 247.5 billion in the previous quarter.
Net subscriber addition continued to accelerate with Jio adding 11.2 million subscribers during the quarter. Monthly churn was 1.7 per cent. As per the company, average revenue per user (ARPU) increased 2 per cent year-on-year (YoY) to Rs 181.7 driven by a better subscriber mix partially offset by unlimited data allowance on 5G network. Engagement on the Jio network remained strong with an addition of over 3 exabytes of data traffic for the second successive quarter. Total data and voice traffic increased 31.5 per cent and 7.9 per cent YoY, respectively.
Commenting on the results, Akash M Ambani, chairman, Jio, 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.”
