Reliance Jio's Stellar Q1: Surge in Subscribers and 5G Dominance

Reliance Jio has reported a triumph in its Q1 financial results, demonstrating strong subscriber growth and a leading position in 5G user adoption. The company experienced a substantial increase in user additions following tariff adjustments, hitting a remarkable 10 million new subscribers.

The numbers were buoyed by an impressive 19% year-over-year revenue increase, driven by both mobile and home broadband segments. Despite a modest average revenue per user (ARPU) growth, Jio's expansion in 5G and broadband services has fortified its position as a dominant player globally.

With a net profit of Rs 7,110 crore and a 23% surge in EBITDA, Jio outperformed expectations, bolstered by increased user engagement and digital service developments. As it continues on this growth trajectory, Jio anticipates reaching significant subscriber milestones in the near future.

(With inputs from agencies.)