Jio has already deployed over 60,000 5G sites across the 700MHz and 3.5GHz bands
Indian company Jio Platforms reported its net profit grew 15.6% to INR50 billion ($610.2 million) in its fiscal Q4, ending March 24.
The company’s operating revenue also climbed 14.4% year-on-year to INR254.7 billion, while its ARPU also grew 6.7% to INR178.80.
The company claimed its 5G footprint reached 2,300 cities and towns across India. Jio has already deployed over 60,000 5G sites across the 700MHz and 3.5GHz bands.
However, according to the carrier’s website, Reliance Jio Infocomm has already deployed its 5G service in 2,691 cities across 35 states in India.
In an earnings statement, chairman and CEO of parent Reliance Industries Mukesh Ambani highlighted steady growth in mobile and FTTH subscribers as the main drivers of operating profit gains.
During its fiscal Q4, Reliance Jio’s mobile subscriber base grew 7.1% year-on-year to 439.3 million.
Akash Ambani, Reliance Jio Infocomm Limited chairman, said: “5G has led to a significant improvement in customer experience, reflected in the higher engagement levels among Jio users. Jio remains committed to build a robust digital society with tailor-made technology platforms which will drive sustained growth in earning and value for all stakeholders.”
Jio started to deploy its 5G Standalone (SA) network in October 2022 and has recently stated that it is on track to cover all towns and cities by December 2023. The telco had initially launched the beta trial of its 5G services in Mumbai, Delhi, Kolkata and Varanasi.
Jio is offering the 5G connectivity on an invitational basis, with users living in 5G-enabled cities who have 5G compatible smartphones receiving invitations.
Last year, Reliance Jio Infocomm announced 5G contracts with Nordic vendors Ericsson and Nokia. The deal with Ericsson marks the first partnership between Jio and Ericsson for radio access network deployment in the country.
Jio had previously secured a mix of wireless spectrum for 5G across 700 MHz, 3.5 GHz, and 26 GHz bands. Jio is the only Indian operator with the 700 MHz low-band spectrum.
Rival operator Bharti Airtel recently said that its Airtel 5G Plus service is available to customers in over 500 cities in India.
About a third of wireless data users in India, or 300 million subscribers, are expected to use 5G services by March 2025, according to a recent report by local Crisil Ratings.