Jio posted a net loss of Rs. 22 .5 crore in Oct-March

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The telecom arm of Reliance Industries Ltd, Reliance Jio Infocomm registered a net loss of Rs 22.5 crore for the six months ended March 31, 2017. The company had reported a loss of 7.46 crore from the year ago, ET reported.

Jio posted a net loss of Rs. 22 .5 crore in Oct-March

The report says that Jio's total income dropped by 75 percent to Rs. 54 crore against Rs. 2.25 crore in the same period. Adding that the total expenditure for six months is Rs. 34.88 crore.

Jio which is known for its aggressive plans has managed to garner 72 million users for its Prime membership.

Meanwhile, the company has submitted its Dhan Dhana plan with Telecom Regulatory Authority of India.

SEE ALSO: Jio effect: Airtel launches two plans for postpaid users

To recall, Reliance Jio has announced its new offer on April 11, 2017, in which the company is offering 1GB data per day at 4G speeds for 84 days for Rs. 309.

The plans start at the most affordable Rs. 309 all unlimited plan, which provides unlimited SMS, calling and data for three months on the first recharge.

The firm also announced a Rs. 509 unlimited plan for customers with high data usage offering unlimited SMS, calling and data (2GB a day at 4G speeds) for three months on the first recharge.

Jio has started its 4G services on September 5, 2016, with Jio Welcome offer which gave unlimited data, voice and video calls and messaging access for the first three months.

After that, the Welcome Offer was replaced by the Happy New Year offer and gave same offers including free voice calls, video calling, messaging, and data.

The free services offered by the company were supposed to end on April 1, 2017. But on March 31, 2017, the telco announced the new " Summer Surprise" offer for its JIO PRIME members in which the company offers three months free services to its Prime Members if they make their first paid recharge prior to April 15 using Jio's Rs. 303 plan (or any higher value plan). The paid tariff plan will be applied only in July after the expiry of the complimentary service. The company has also extended its Prime membership services until April 15.

But TRAI has advised, Mukesh Ambani-led Reliance Jio to withdraw its new "Summer Surprise" offer.



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