Net loss of Reliance Jio touches Rs 31.37 crore in fiscal 2017

Reliance Jio Digital LifeReliance Jio Infocomm has posted a net loss of Rs 22.50 crore during October 2016 to March 2017 period.

The net loss of Reliance Jio for financial year was Rs 31.37 crore. Reliance Jio did not disclose the revenue during the last fiscal. Jio offered free services during its promotion phase. Recently, Jio said it added 72 million paid subscribers.

Reliance Jio Infocomm had 108.9 million subscribers on the 4G network as on March 31, 2017 since commencement of services on 5 September 2016. Jio crossed 50 million subscribers in 83 days, and 100 million in 170 days, adding at an average rate of 6 lakh subscribers per day.

Reliance Jio has achieved more than 110 crore GB of data traffic per month and 220 crore voice and video minutes a day.

Jio said it has the world’s largest greenfield 4G wireless broadband network, with over 100,000 mobile towers. Jio will add another 100,000 towers to the 4G network in the coming months.

Its investment in telecom network is paying off. As per TRAI MySpeed Portal, Jio’s average download speed at 15 Mbps in March 2017 is almost twice of any other operator. But both Ookla and OpenSignal did not rate Jio as the top operator for network speed.

Jio said it is the only telecom operator which has deployed pan-India LTE network across the 800MHz, 1800MHz and 2300MHz bands.

The company continues to make progress on the roll-out of its Fibre to the Home (FTTH) business offering with beta trials initiated in a few locations.

Reliance Retail’s device distribution business sold 2.6 million LYF and JioFi devices in Q4 and nearly 10 million units in the financial year. LYF and JioFi devices are available through 500,000 retailers, Jio.com, AJIO.com and across all major e-commerce portals.

Reliance Jio did not reveal the specific Capex in its 4G venture. Reliance Industries (RIL), the parent company of Reliance Jio, said the capital expenditure for the year ended March 31, 2017, was Rs 114,742 crore or $17.7 billion, including exchange rate difference capitalization.

Latest

More like this
Related

Norlys Telia Denmark selects Nokia for mobile core network and managed services

Norlys, which recently purchased Telia Denmark, has selected Nokia...

COAI seeks strong support for telecom operators in India Budget 2024-25

Cellular Operators Association of India (COAI) has revealed the...

Telefonica and DIGI sign new mobile network agreement

Telefonica and DIGI have signed a new mobile network agreement...

Telenet CFO Erik Van den Enden resigned

Telecom operator Telenet Group announced the resignation of Chief...