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What to expect from Reliance Jio financial results and plans announcement today
Jio had already announced the 72 million paid subscribers, and the increase in the number day by day.
As Reliance Industries Limited is going to announce its Q4 result today and the market watchers are waiting for the same.
But now the question arise here is that what we can expect from the company regarding Jio. As the company had already announced the 72 million paid subscribers.
Even industry experts have said that the company might be announcing 100 million paid subscribers.
"In February 2017, Jio Family reached 100 Million subscribers in 170 days. This is the fastest achieved by any start-up technology company in the world," the company said in satement.
Commenting on the results, Mukesh D. Ambani, Chairman and Managing Director, Reliance Industries Limited said: "During FY 2016-17, the Reliance team shaped the contours of future growth platforms in the Consumer and the Energy and Materials businesses.
I am proud to be part of this gifted team that has strived tirelessly over the last few years to create unparalleled hydrocarbon assets, while ushering in the digital age to the remotest parts of our Nation. The talent and dedication of our team is underscored by the fact that this was achieved in a record-setting timeframe.
Meanwhile, the company has registered a net loss of Rs 22.5 crore for the six months which ended on March 31, 2017. The company had reported a loss of 7.46 crore from the year ago.
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.To recall 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.
The company has also launched it new plan Dhan Dhan Dhan recently.