According to the sources Reliance Jio company reported a profit of ‘504 crore for the quarter ending december 2017.
It is also the only operatior in this quarter to post positive numbers. Article’s net profit came down by 39.3 percent and revenue by 13 percent in quarter ending December 2017.
Idea cellular recorded a loss of 1,284 crore in the same time period. Jio also recorded an average revenue per user (Arpu) of ‘154, about 24% more than that of Airtel’s ‘123, in the same period.
Reliance jio infocomm limited, more popular known as Reliance Jio, recently shot to news when Mukesh Ambani announced the ideas and plans of jio which shook the industry. Share prices of airtel, Vodafone and Idea fell considerably when the launch of Jio was made.Though the lyf phones and Jio sim had already started doing the rounds through preview offer, this is the first proper launch event that took the industry by storm.
Jio aims at creating an entire digital ecosystem offering broadband services, application, smart devices and mobile telephone facilities. Its offerings range from a wide library of recorded and live music programs, television shows, sports programs to movies. Jio Money, Jio play and Jio app are among the most popular Jio applications.
Billionaire Mukesh Ambani’s Reliance Industries Ltd. Plans to inject about 150 billion rupees into its wireless unit as it prepares to take on peers such as Bharti Airtel Ltd. In the world’s second largest Mobile phone market.
Reliance Jio is going to clear the way for young companies and entrepreneurs to take advantage of the platform they are building.This will not only accerlerate their growth, but will also give them opportunities to form strategies partnership.
In june 2015, jio announced that it will start its operations all over the country by the end of 2015. However, four months later in October 2015, the company’s spokesman sent out a press release stating that the launch was postponed to the first quarter of the financial year 2016-2017.
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