Reliance Jio, India's telecom powerhouse, has surpassed China Mobile as the world's largest mobile provider in terms of data traffic. The news occurred on Monday, when Jio released its quarterly results, which included startling statistics and milestones accomplished in several categories.

As of March 2024, Jio has 481.8 million users, 108 million of whom were on Jio's True5G standalone network. The figure demonstrates Jio's dominance in the Indian telecom sector.

According to a press statement, overall traffic on the Jio network has surpassed 40.9 Exabytes, up 35.2% year on year.

This increase is due to the increased usage of 5G and home services.

Notably, 28% of the traffic is from 5G customers, showing a rapid shift to next-generation connection.
Furthermore, Jio's Fixed Wireless Access (FWA) services have dramatically increased data traffic.

Since the COVID-19 epidemic began, there has been a remarkable 2.4x rise in yearly data traffic, with per capita monthly data use rising to 28.7 GB from 13.3 GB three years earlier. This spike reflects India's rising reliance on digital connection.

Speaking on the results, Mukesh Ambani, Chairman and Managing Director of Reliance Industries Limited, expressed his pleasure with the company's success and contribution to the Indian economy.

He highlighted notable accomplishments, such as becoming the first Indian firm to exceed Rs 100,000 crore in pre-tax earnings.

Ambani stated, "Initiatives across RIL's companies have made a significant contribution to promoting growth in many areas of the Indian economy. It is encouraging to see that, in addition to improving the national economy, all segments have delivered strong financial and operating results. This has helped the company reach several milestones. I am pleased to inform you that Reliance became the first Indian firm to exceed Rs 100,000 crore in pre-tax earnings this year."

Ambani also stressed Jio's role in pushing India's digital transformation, which includes upgrading 2G customers to smartphones and leading the effort to develop AI-driven solutions.

He stated, "With over 108 million True 5G customers, Jio is truly leading the 5G transformation in India." From upgrading 2G subscribers to smartphones to spearheading the push to develop AI-driven solutions, Jio has demonstrated its potential to build the nation's digital infrastructure."

He reaffirmed Jio's commitment to enhancing the country's digital infrastructure and its ongoing efforts to bring new solutions to customers.

Reliance Retail, the company's retail arm, also had great growth, with footfalls increasing by 36% and strong digital commerce platforms delivering a diverse brand portfolio.

"Through its broad omni-channel presence, Reliance Retail continued to give customers with countless alternatives. We continue to provide product distinction and a superior offline experience through shop renovations and layout redesigns. Our digital commerce systems also provide novel options to users with a diverse brand portfolio. Reliance Retail also aims to empower millions of businesses via innovative initiatives in the modern commerce environment," Ambani stated.

In addition to its telecom and retail businesses, Reliance Industries Limited has demonstrated endurance in the Oil to Chemicals (O2C) segment in the face of adverse market conditions. The KG-D6 block has reached important production milestones, contributing for 30% of India's domestic gas output.

Ambani stated, "Strong global demand for fuels, combined with limited flexibility in the global refining system, maintained margins and profitability in the O2C market. The downstream chemical sector faced progressively unfavorable market circumstances throughout the year."

He went on to say, "Despite challenges, we produced a robust performance by preserving leading product positions and feedstock flexibility through our cost-driven operating strategy. The KG-D6 block has surpassed 30 MMSCMD of output, accounting for 30% of India's domestic gas production.
In terms of financial performance, Reliance Jio has reached numerous significant milestones.

The combined EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) was Rs 178,677 crore, while the consolidated Profit Before Tax (PBT) exceeded Rs 100,000 crore. The company's market valuation has surpassed Rs 20,00,000 crore, cementing its status as one of India's most valuable corporations.