wordpress blog stats
Connect with us

Hi, what are you looking for?

Reliance Jio FY17 results: Rs 31.37Cr loss, expenses increased 300% YoY

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…

Please subscribe/login to read the full story.
Written By

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

Views

News

Studying the 'community' supporting the late Sushant Singh Rajput (SSR) shows how Twitter was gamed through organized engagement

News

Do we have an enabling system for the National Data Governance Framework Policy (NDGFP) aiming to create a repository of non-personal data?

News

A viewpoint on why the regulation of cryptocurrencies and crypto exchnages under 2019's E-Commerce Rules puts it in a 'grey area'

News

India's IT Rules mandate a GAC to address user 'grievances' , but is re-instatement of content removed by a platform a power it should...

News

There is a need for reconceptualizing personal, non-personal data and the concept of privacy itself for regulators to effectively protect data

You May Also Like

News

Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...

Advert

135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...

News

By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...

News

Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Name:*
Your email address:*
*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ