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Reliance Jio reports Rs 10.51 Cr loss for FY14

Reliance Industries' data services venture Reliance Jio Infocomm (formerly known as Infotel Broadband Services Limited) which is yet to launch its services commercially in India, has reported a net loss of Rs 10.51 crore for the year ended March 31, 2014, as compared to Rs 5.80 crore loss in the previous year. The total revenues were at Rs 0.04 crore for the year, down from Rs 0.05 crore in the previous year. For the six month ended March 31, 2014, Reliance Jio reported a net loss of Rs 6.45 crore and total revenues of Rs 0.02 crore, as compared to Rs 2.82 crore loss and Rs 0.03 crore revenues in the corresponding six month period last year. Delays, Delays and More Delays It's worth noting that there are still no signs of Reliance Jio launching its 4G service in India, even after almost four years of securing a pan-India BWA spectrum for Rs 12,847.7 crore & about three and half years after conducting its first field trial at its own campus. Remember that there is just about an year before the BWA rollout obligations kicks in. As per these obligations, all BWA licensees have to provide street level coverage in at least 90% of the metro service areas and at least 50% of the rural short distance changing areas (SDCAs) by mid-2015 (five years of the effective date), failing which the BWA spectrum provided will be withdrawn by the government. There was earlier talks of the company launching its 4G services in December 2013, which was then pushed to early…

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