Reliance Jio unlikely to raise tariffs: Report

Mukesh Ambani- owned Reliance Jio is unlikely to raise tariffs as the subscriber base is growing with its current pricing, ET reported.

According to a report, the company executives have made it clear to Goldman Sachs, Citi Research and Morgan Stanley in its earnings meet that customer acquisition remains its priority.

"Jio has said it will not tinker with tariffs and risk disrupting the strong subscriber (growth) momentum as its focus in the near term remains on adding subscribers." Goldman analyst said in a note

The brokerage further said that "revenues would stay stagnant for incumbent telcos until Jio reaches its earlier stated target of 400 million subscribers".

The analyst also estimated that Jio's subscriber base to reach 302 million by the end of this financial year.

Meanwhile, the company added 27.9 million in Q3 ( October - December) (as against a previous four-quarter average of 28.4 million).

The telco pointed out that Reliance Industries Limited, parent of the Company, awaits regulatory approvals to complete the recently announced investment in Den Networks Limited and Hathway Cable and Datacom Limited.

It said Video consumption drove most of the usage, increasing to 460 crore hours per month. Furthermore, JioPhone Monsoon Hungama offer (by Reliance Retail) with exchange policy and Rs.501 upfront commitment has continued to witness good customer traction.

Jio also said that JioGigaFiber services for Home broadband, Entertainment, Smart Home Solutions, Wireline, and Enterprise has witnessed overwhelming customer interest across 1,400 cities.