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Saturday, October 14, 2017

Relaince going to spend 70 billion a quarter on Jio and adds 15.3 million users

  MyNetworkPlans       Saturday, October 14, 2017
According to the latest financial and operating report of Relaince Industries Limited (RIl) for the second quarter, Jio's customer base was a rapid increase. The report notes that Reliance Jio has added some 15.3 million subscribers over the last three months. However, instead of adding millions of customers to Jio, the company, as a pet, RIL's financial and operational reporting account suffered a loss of Rs. 271 million. Even after the loss experienced, Reliance claims that the company's financial performance is "strong".

Adding nearly 15.3 million users, Jio has increased its customer base to 136.8 million in three months. In the report, RIL also reported that the company - Jio saw a total wireless traffic of 374 million gigabytes (GB 3,774,000) in the second quarter, which ended on September 30th.

Commenting on the performance of quarterly performance, Reliance Industries Chairman Mukesh Ambani says. "The rapid acceptance of Jio's services reflects the latent need of the company is confident that Jio will offer significant benefits to the Indian and Indian economy and take India to a much taller pedestal. strong financial results demonstrate robust Jio model business and significant efficiencies that the company has built up investment in the latest 4G technology and 4G correct trading strategies. "

RIL in the report also said that Jio will become "soon" profitable. The company, stating that its future plan indicates that it has the goal of injecting about one billion dollars into the company for each of the next quarters. "Jio's net debt was 490 crore," says Reliance V Srikanth's financial officer. He added that "Reliance debt matrix will peak in the quarter in December or next quarter, after which they begin to slide, suggesting solid growth for the cluster." "I can only see (net income) getting very positive," adds Srikant.

Asserting his driving chart, Reliance Jio's chief strategist, Anshuman Thakur, says he will continue spending about 70 billion rubles per quarter in Jio in the coming quarters. He adds that Reliance has already added Jio more than $ 30 billion.

In the report, Reliance also noted that about 27 million LTE phones were sold in India in the second quarter. "Based on the gross amount, Jio gained more than the market share of the incremental smartphones sold in the country.The accumulated LTE smartphone base is estimated at 160 million Jio has a market share of more than 85 percent of LTE smartphones country ".
IndiaToday
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