Jio Platforms claimed its 5G user base topped 108 million subscribers at the end of fiscal Q4 2024 (ending 31 March), with 28 per cent of all wireless data carried on the network.

Mukesh Ambani, chair and MD of parent Reliance Industries, noted in its earnings release the performance of the digital services segment was boosted by expansion of subscribers, supported by both mobile and fixed wireless services. 

Net profit rose 12 per cent year-on-year to INR55.8 billion ($669.6 million), with higher ARPU improving margins. Operating revenue grew 13.3 per cent to INR338.4 billion, which the company said was driven by subscriber growth in mobility and an increase in wireline services leading to a better subscriber mix.

Jio Platforms is the holding company of Reliance Jio, the largest mobile player in India by subscribers.

ARPU was up 1.6 per cent to INR181.70. Jio said ARPU growth slowed due to an increasing mix of promotional 5G plans, offering unlimited data to subscribers.

Having launched 5G in October 2022, the operator first disclosed associated subscriber numbers in August 2023, when it had 50 million.

Full year capex for Reliance Industries totalled $15.8 billion, down from $17 billion the previous fiscal year, with investments allocated for 5G rollout, expansion of retail infrastructure and a new energy business.