Jio ends 2024 with 170 million 5G subscribers

Jio added 22 million 5G subscribers in its fiscal Q3 2025, which ended on December 31

Indian telco Reliance Jio Infocomm ended 2024 with 170 million 5G subscribers, according to the quarterly report issued by Reliance Industries, Jio’s parent company.

The company noted that 5G accounted for 40% of its wireless traffic as of the end of the year.

Jio added 22 million 5G subscribers in its fiscal Q3 2025, which ended on December 31, 2024. The operator’s net profit for the quarter grew 26% year-on-year to INR 68.6 billion ($794.6 million), while consolidated revenue surged 19.2% to INR 387.5 billion.

Meanwhile, Jio reported that its ARPU continued a three-year climb, increasing 11.9% to INR 203.30. Its total mobile user base rose by 11.2 million, reaching 482.1 million at the end of 2024.

Jio highlighted the advanced features of its True5G network, including Voice over New Radio (VoNR) certification for enhanced voice call quality, slice-based and device-aware layer management for optimized resource use, and bandwidth allocation designed to improve energy efficiency.

The telco also saw growth in its broadband services through JioAirFiber, particularly in smaller cities and towns. Over 70% of new JioAirFiber connections were established in regions outside the top 1,000 cities, improving connectivity in traditionally underserved areas. The company’s total number of home broadband connections reached approximately 17 million, reflecting steady growth in adoption.

During fiscal Q3, Jio launched JioAICloud, a cloud platform offering up to 100 GB of free storage for users. Designed for both individual and enterprise use, the platform leverages Jio’s AI infrastructure in India to provide a range of services aimed at enhancing access to AI tools and capabilities.

Akash Ambani, Chairman of Reliance Jio Infocomm, said: “Jio has played a key role in digital inclusion by bringing the world’s best communication technologies for every Indian. Rapid scale-up of 5G adoption and proliferating fixed broadband beyond Tier 1 towns over the past year further strengthen the Digital India mission. Jio will continue to lead the charge in technology innovation by fully embracing the power of AI to create a connected, intelligent future that is truly transformative. This will drive sustained value creation over the next many years.”

The company has reportedly begun preparations for an initial public offering (IPO) expected to take place later this year. Local press reports indicate the planned IPO aims to raise between $4.08 billion and $4.66 billion through a combination of share issuance, an offer for sale (OFS), and a pre-IPO placement. Reliance Jio Infocomm is targeting a launch in the second half of the year, which could potentially make it India’s largest-ever public offering. The company’s valuation is estimated to be between $100 billion and $120 billion.

In October 2024, Jio announced it was adopting a more measured approach to 5G network expansion due to low capacity utilization and the delayed monetization of the technology. Consequently, the company has shifted focus toward upgrading its existing 4G users to more expensive 5G services. In September 2024, Reliance Jio Infocomm confirmed it had achieved nationwide coverage with its 5G network.