Reliance Jio incurred a loss of Rs 22.5 crore during a six-month period from September 2016 to March 2017. The telecom company posted a Rs 7.46 crore loss that it made in the same period last year. The telco’s overall losses for the previous financial year (FY 2016-17) stood at Rs 31.37 crore, which increased from Rs 15.71 crore in the FY 2015-16. The telco had launched its operations as a 4G-only service in September last year and is present in all 22 telecom circles. It was able to retain 72 million 4G customers after having garnered 100 million users in over 6 months through its promotional offers. The telco recently started charging users for its services and is also offering 3 months of free data and calls as complimentary on the first recharge. The telco is also expected to come out with its own set of fiber broadband and DTH/IPTV services. Promotions come with a cost for any company, and Jio’s freebies have reflected hugely on the company’s expenses. According to its filings, Jio’s ‘Selling and Distribution” costs increased by more than 300% YoY to Rs 17.88 crore in FY17. During FY16, which was before Jio’s public launch, the company’s expenses stood at Rs 3.76 crore. The company’s operating expenses also went up by 42.6% YoY to Rs 19.32 crore during FY17. In FY16, Jio’s operating expenses stood at Rs 13.54 crore. Other Financials -Total income during FY17 stood at Rs 1.22 crore, which decreased 158% YoY from Rs 3.15 in…
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