Reliance Jio reports Rs 22.50 crore net loss for second half of FY17

Reliance Jio Infocomm Limited (RJIL) today reported a net loss of Rs22.50 crore in its financial performance for the quarter/year ended 31st March 2017.

Announcing its numbers for the first time ever, Reliance Jio said its total income fell by 76% to Rs 0.54 crore, compared to Rs 2.25 crore in the same period last year with total expenses for the six months stood at Rs 34.88 crore compared with Rs 13.63 crore year ago.

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 monetization of its business.

Recently on 11 April Reliance Jio launched a new plan (Dhan Dhana Dhan) that offers its Prime members 1GB data per day at 4G speeds for 84 days for Rs309. This new offer will let Jio extend its user base further and cross the 100 million mark of paid users.

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