Mukesh Ambani, chairman and MD of Reliance Industries, stated mobile unit Reliance Jio had made rapid progress on an aggressive 5G rollout plan, as the company revealed earnings gains for its fiscal Q2 2023 (ending 30 September).
Reliance Jio started beta trials of its next-generation service in Mumbai, Delhi, Kolkata, Varanasi and Chennai last week, and introduced a 5G-powered Wi-Fi service in Nathdwara, in the western state of Rajasthan, on 22 October.
The operator is targeting nationwide standalone 5G coverage by December 2023.
Ambani commented as the operator’s holding company Jio Platforms detailed progress in a strategy to up its post-paid user base, resulting in gains across key metrics during the quarter.
Net profit grew 26.9 per cent year-on-year to INR47.3 billion ($571.9 million), with revenue increasing 22.8 per cent to INR285.1 billion. ARPU was 23.4 per cent higher at INR177.20.
Its total mobile subscriber base fell by nearly 2 million to 427.6 million.
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