Reliance Jio reports Rs 22.50 crore net loss for second half of FY17
Reliance Jio Infocomm, Reliance Industries’ telecom venture, on Monday reported a net loss of Rs 22.50 crore for the six months ended March 31, 2017.
The telco posted Rs 7.46 crore in loss for six months ended March 31, 2016, it said in a press release.
For the year ended March 31, 2017, the firm reported Rs 31.37 crore net loss.
Reliance Jio’s total income fell to Rs 54 lakh for six months ended March 31 , 2017 against Rs 2.25 crore for the corresponding period of 2015-16 fiscal.
Reliance Jio started its commercial operations on September 5, 2016, providing free voice and internet data services among others to gain subscribers. Reliance Industries chairman Mukesh Ambani had aimed at 100 million subscribers in the shortest possible time.
Jio crossed 100 million subscribers on February 22, 2017.
The firm recently announced 72 million subscribers had signed up for its Jio Prime service, a beginning for monetisation of its business.
On April 11, Jio launched a new plan called ‘Dhan Dhana Dhan’ offer which entails a Rs 309 recharge – an increase of measly Rs 6 from its Summer Surprise offer – and Rs 509 recharge.
Those customers who are yet to subscribe to Prime Membership will have to pay a total of Rs 408 (309+99) or Rs 608 (509+99) if they want to avail the Dhan Dhana Dhan offer.
The billing cycle for Dhan Dhana Dhan offer will start from July onward.
This new offer is giving Jio-lovers another shot at getting three months of 1GB data per day for a nominal cost of Rs 309. This new offer will let Jio extend its user base further and cross the 100 million mark of paid users.