Mukesh Ambani, the Chairman and Managing Director of Reliance Industries Limited (RIL), announced during the 46th Annual General Meeting (AGM) that Jio, a telecommunications company, has achieved a significant milestone by surpassing 450 million subscribers.
This growth has led to a more than 20% annual revenue increase. Jio has achieved its highest-ever revenue of Rs 1,19,791 crore and an EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) of Rs 50,286 crore.
Ambani also shared insights on Jio’s digital services business during the meeting. He mentioned that the data consumption per user on Jio’s network has experienced a substantial rise. On average, each user now consumes more than 25 gigabytes of data every month. This translates to a monthly data traffic of 1,100 crore gigabytes, marking a growth of 45% compared to the previous year.
Reflecting on Jio’s journey, Ambani stated that the company was launched seven years ago with a grand vision of transforming India into a premier digital society. The goal was to leverage technology to create positive changes across various aspects of life and every sector of the economy. He emphasized Jio’s pride in contributing to this digital revolution and building a Digital Public Infrastructure that has gained global admiration. Ambani asserted that Jio has been pivotal in driving India’s remarkable digital transformation.
During the AGM, Mukesh Ambani highlighted Jio’s distinctive position as the sole provider of a comprehensive 5G ecosystem to its customers.
He stated that Jio offers its 5G customers a complete package, including connectivity, devices, support services, and value-added offerings. Through Reliance Retail, Jio has established an extensive sales and support network across India for 5G devices and services.
This network is open to various leading 5G Smartphone Original Equipment Manufacturers (OEMs), ensuring widespread availability and adoption of diverse 5G devices. This integrated approach solidifies Jio’s role as the driving force and clear leader in India’s 5G evolution.
Ambani pointed out that while launching 4G services in 2016, Jio relied on global partners for equipment. However, the company’s 5G rollout is now powered entirely by Jio’s own 100% in-house developed 5G stack. This aligns with the Indian Prime Minister’s Atmanirbhar (self-reliant) vision.
The 5G stack incorporates advanced technologies like Standalone 5G architecture, Carrier Aggregation, and Network Slicing. It also features advanced Artificial Intelligence/Machine Learning capabilities that optimize the network for exceptional quality, reliability, and user experience.
This in-house development is designed to smoothly integrate with both 4G and 5G equipment from global vendors. Jio’s 5G radio portfolio spans from small cells to large tower-based radios, catering to various outdoor and indoor usage scenarios.
Furthermore, Jio’s focus on continuous innovation has positioned it as one of the early adopters of 6G capabilities. The company has also significantly contributed to global patent filings from India for digital technologies, signifying its evolution from a telecom operator to a technology company.
Ambani expressed his vision for Jio to leverage its Made-in-India technology stack to generate value and drive revenue growth within India and on the international stage in the years to come.