In Q2, the revenue from operations grew 18 per cent Y-o-Y to Rs 31,709 crore in Q2 FY25. Revenue had grown by 12.8 per cent in the preceding quarter. The operating revenue growth was primarily driven by the partial impact of the tariff hike and scale-up of home and digital services businesses, the company said.

Jio Platforms’ earnings before interest, taxes, depreciation, and amortisation (Ebitda) for the quarter was a record Rs 15,931 crore, up 17.8 per cent Y-o-Y.

Subscriber loss

Jio said 148 million subscribers have migrated to Jio’s 5G network and are accounting for 34 per cent of Jio’s wireless data traffic, up from 31 per cent and 28 per cent in the preceding quarters. The telco stressed its 5G users now represent the largest 5G subscriber base for any telecom operator outside China.

However, Jio Platforms lost 10.9 million subscribers during the latest quarter, after seven straight quarters of gaining users. The telco had 478.8 million subscribers at Q2-end, down from 489.7 million at the end of Q1. The company admitted a limited amount of SIM consolidation has been observed after the tariff hike, offsetting continued strength in gross additions in Q2, while the monthly churn increased to 2.8 per cent.

However, even before the tariff hike came into effect, Jio’s subscriber additions had been waning. It had gained 7.9 million, 10.9 million, and 11 million new subscribers in the preceding three quarters.

Engagement on the network remained strong, with total data and voice traffic increasing by 24 per cent and 6.4 per cent annually, respectively. In Q1, the company said Jio has become the largest operator globally in terms of data traffic. Per capita data consumption by Jio users rose to 31 GB per month, or more than 1 GB per day.

Jio announced it is now the fastest-growing fixed wireless operator globally, with over 2.8 million JioAirFiber connections. Launched initially in eight cities in September last year, JioAirFiber is now available in over 5,900 cities. The service is expected to accelerate Jio’s home penetration to over 100 million homes. Jio has recorded its highest-ever quarterly home connect at over 1.1 million.

“Right from inception, Jio has focused on deep tech innovation to create customer and shareholder value. The ongoing transformation created by Jio True5G and JioAirFiber in India’s digital landscape is a testament to this approach,” said Akash M Ambani, chairman of Reliance Jio Infocomm.

First Published: Oct 14 2024 | 7:58 PM IST

The Board of Wipro will consider issuing bonus shares to investors along with its financial results for the quarter ended September 2024.

“The Board will be considering a proposal for issue of bonus shares, in accordance with the applicable provisions of the Companies Act, 2013 (including the rules and regulations framed thereunder), the Securities and Exchange Board of India (Issue of Capital and

Disclosure Requirements) Regulations, 2018, at its meeting scheduled to be held over October 16-17,” the company said in a filing.

A company issues bonus shares for their shareholders in order to increase the liquidity of the stock as well as with the aim to decrease its stock price to make it affordable for investors.

Bonus shares are fully paid additional shares issued by a company to its existing shareholders. When a firm issues bonus shares, its shareholders do not have to incur any extra costs to get them. The number of bonus shares you receive depends on the number of shares of the firm you already hold.

All shareholders who own shares of the firm before the record date, which is determined by the firm, are eligible for additional shares.

The bonus shares once allotted will rank pari‐passu in all respects and carry the same rights as the existing equity shares and will be entitled to participate in full in any dividend and other corporate actions recommended.

On Friday, Wipro shares closed 0.66% higher at Rs 528.45 on NSE.