Sunday, May 26 2024 | Time 03:05 Hrs(IST)
Business Economy

New Delhi, Apr 23 (UNI) Telecom major Jio Infocomm, a wholly owned by Reliance Industries Limited, has increased its subscriber tally to 470.86 million at the end of December, 2023, up 8.76 per cent from its subscriber base of 432.92 million a year ago.
According to “Indian Telecom Services Performance Indicator Report” for the Quarter October-December 2023” released by telecom regulator TRAI, Reliance Jio Infocomm Ltd is the market leader with 39.56 percent in the access segment in terms of number of subscribers with 470.86 million subscribers at the end of Dec-23 followed by Bharti Airtel Ltd with 390.04 million subscribers.
Jio Infocomm yesterday had reported 13 per cent jump in net profit at Rs 5337 crore in the fourth quarter of FY24 compared to Rs 4716 crore in the same quarter in 2022-23 fiscal year.
The net profit for the full year 2023-24 stood at Rs 20466 crore compared to Rs 18207 crore in 2022-23.
In term of net addition, Reliance Jio became the biggest gainer with net addition of 11.19 million telephone subscribers during the quarter ending December-23.
Bharti Airtel’s subscriber base is 390.04 million and market share of 32.77 percent, TRAI said adding Vodafone Idea witnessed depletion in its market share and its subscriber base is 223.74 million with a market share of over 18 percent as of December 2023.
In the financial terms the telecom operators have improved their earnings over the period with Average Revenue Per User (ARPU) for the industry witnessing an improvement to Rs 152.55 in December 2023 from Rs 141.14 a year ago.
Gross revenue of the telecom sector, however, took a hit with over 4 per cent decline to Rs 84500 crore at the end of December 2023 from Rs 88,166 crore a year ago, the regulator said.
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