wordpress blog stats
Connect with us

Hi, what are you looking for?

Reliance Earnings: Jio gains new subscribers, registers profit of over Rs. 4,000 crore

The finances of Reliance Industries Ltd (RIL) can show its potential in the e-commerce sector and also a picture of the telecom industry through Jio

Reliance Jio has managed to clock over Rs. 4,000 crore in net profit in the first quarter of the financial year 2022-23 (FY23), according to the financial statement released by the company. It also reported an increase in the Average Revenue Per User (ARPU) from Rs. 167.6 to Rs. 175.7 during the quarter. Why it matters: Reliance is one of the most valuable companies in India and it has been looking to diversify its interests by venturing into e-commerce. The financial statement offers insight into how Reliance looks to challenge the dominance of start-ups. Moreover, Jio is the largest telecom operator in the country and its financial statement offers a glimpse into the state of the telecom sector. [caption id="attachment_165769" align="alignnone" width="880"] Source: Reliance[/caption] How did Jio perform: The company registered an uptick in its user base which saw an addition of 9.7 million. The total number of users stands at 419.9 million. The company earned gross revenue of Rs. 27,527 crore in the quarter which is a 20 per cent increase from last year. The statement revealed that the company facilitated nearly 26 exabytes of data on its servers. It also revealed that subscribers were consuming more than 20 GB of data on average per month. The company also claimed that they had 53 per cent of the total market share more than the combined market share of its competitors. How is Meta helping Reliance: The company officials revealed in a presentation that Meta's investment helped Reliance in developing…

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

I cover several beats such as Crypto, Telecom, and OTT at MediaNama. I can be found loitering at my local theatre when I am off work consuming movies by the dozen.

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