Reliance Jio’s Q1 net profit surges nearly 183% to Rs 2,520 crore
NEW DELHI: Reliance Jio on Thursday posted nearly 183 per cent jump in its net profit to Rs 2,520 crore for the June quarter. The net profit stood at Rs 891 crore in the corresponding quarter previous year. Jio’s operating revenue for the Q1 FY21 grew 33.7 per cent year-on-year to Rs 16,557 crore. Its […]
Mukesh Ambani takes on Amazon, Walmart in e-commerce gamble
Backed by multi-billion-dollar investments from global tech giants, India’s richest man is ready to rumble with Amazon and Walmart for the country’s huge e-commerce market through his conglomerate Reliance. But it is far from certain that Mukesh Ambani’s latest gamble will pay off in a crowded market where many suppliers are not well-versed in digital […]
TPG to invest Rs 4,546.80 crore in Jio platforms
NEW DELHI: Reliance Industries Limited and Jio Platforms Limited , India’s leading digital services platform, announced today that global alternative asset firm TPG will invest Rs 4,546.80 crore in Jio Platforms at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore. The investment will translate into a […]
Abu Dhabi’s Mubadala to invest Rs 9093.6 crore in Reliance Jio platforms
NEW DELHI: Billionaire Mukesh Ambani-led Reliance Industries Limited (RIL) said that that Mubadala Investment Company (Mubadala), the Abu Dhabi-based sovereign investor, will invest Rs 9,093.60 crore in Jio Platforms at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore. Mubadala’s investment will translate into a 1.85% equity […]
Silver Lake to invest Rs 4,546 crore more in Jio Platforms
NEW DELHI: Reliance Industries Limited and Jio Platforms Limited announced that Silver Lake and its co-investors will invest an additional Rs 4,546.80 crore in Jio Platforms, in addition to the Rs 5,655.75 crore of investment by Silver Lake announced on May 4, 2020. This brings the aggregate investment by Silver Lake and its co-investors to […]
Reliance strikes 5th deal, sells 2.32 per cent in Jio Platforms for Rs 11,367 crore to KKR
NEW DELHI: Reliance Industries Limited and Jio Platforms Limited (Jio Platforms), India’s leading digital services platform, announced today that KKR will invest Rs 11,367 crore into Jio Platforms. This transaction values Jio Platforms at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore. This is KKR’s largest […]
Reliance Industries’ slew of equity deals to drive improvement in Co rating: Fitch
NEW DELHI: Reliance Industries Limited’ proposed USD 7 billion rights issue, a string of equity deals of USD 8 billion in Jio Platforms, and USD 1 billion from a joint venture with BP plc will allow its leverage to improve, Fitch Ratings said on Wednesday. “The rights issue and equity deals when completed are likely […]
Vista Equity to invest $1.5 billion in Reliance’s digital arm
NEW DELHI: India’s Reliance Industries Ltd (RIL) on Friday announced a $1.5 billion (Rs 11,367) stake sale in digital unit Jio Platforms, a third deal in a little over two weeks that will inject a combined $8 billion in the telecoms-to-energy group to help it pare debt. Private equity firm Vista Equity Partners is buying […]
Reliance Jio Q4 profit zooms to Rs 2,331 crore on rising subscriber base
NEW DELHI: Reliance Jio on Thursday posted 177.5 per cent year-on-year rise in net profit to Rs 2,331 crore for the three months ended March 31, fuelled by rising subscriber base and recent tariff hike. The net profit of Jio stood at Rs 840 crore in the year-ago period. Seen sequentially, the net profit grew […]
Government doesn’t want any telco to shut down, intends to address concerns: Nirmala Sitharaman
NEW DELHI: Finance Minister Nirmala Sitharaman on Friday said the government intends to address the concerns of the crisis-ridden telecom companies which are facing billions of dollars of fresh statutory liability following a recent Supreme Court ruling. “I want no company to shut operations. I want everyone to be up and running. We want the […]
AGR woes: Airtel, Voda Idea post a combined Rs 74,000 crore loss in Q2
NEW DELHI: Vodafone Idea and Bharti Airtel on Thursday reported a whopping combined loss of nearly Rs 74,000 crore in the September quarter as the leading telecom players were hit by statutory dues arising from a recent Supreme Court ruling. While Vodafone Idea posted a loss of Rs 50,921 crore — the highest-ever quarterly loss […]
Apple does a Jio with TV+, offers content subscription at Rs 99 per month
NEW DELHI: With over 1.4 billion active installed base of devices globally and millions in India – iPhones, iPads, Apple TV, Macs, iPod touch and more – Apple has finally flexed its muscles to take on content streaming giants like Netflix, HBO, Amazon Prime and Disney with aggressive pricing, free offers and all-original stories. The […]
Reliance Jio Fibre launch on September 5, plans start at Rs 700 per month
NEW DELHI: Billionaire Mukesh Ambani on Monday announced the roll-out of ‘Jio Fiber’ from September 5, promising free voice calls for life from landlines, 100 mbps minimum broadband speed at subscription starting from Rs 700 a month and free HD TV set on a commitment to an annual plan. Speaking at the 42nd Annual General […]
Reliance Jio joins hands with Microsoft
NEW DELHI: Reliance Jio Infocomm Limited (Jio), a subsidiary of Reliance Industries Limited, and Microsoft Corp. are embarking on a unique, comprehensive, long-term strategic relationship aimed at accelerating the digital transformation of the Indian economy and society. This 10-year commitment combines the world-class capabilities of both companies to offer a detailed set of solutions comprising […]
DCC approves imposing Rs 3,050 crore penalty on Airtel, Vodafone Idea
NEW DELHI: The Digital Communications Commission (DCC), the telecom department’s apex decision-making body, on Wednesday approved imposing cumulative penalty of Rs 3,050 crore on Bharti Airtel and Vodafone Idea for not providing points of interconnection to Reliance Jio. “DCC has accepted Trai recommendation on penalty on Airtel, Vodafone Idea. It will send same recommendation to […]
Reliance Industries 1st private firm to post Rs 10, 000 crore quarterly profit
NEW DELHI:Reliance Industries Ltd (RIL) on Thursday became the first Indian private sector company to report a quarterly profit of more than Rs 10,000 crore after record earnings from petrochemical, retail and telecom business offset a dip in refinery margins. The oil-to-telecom conglomerate reported an 8.8 per cent rise in its consolidated net profit to […]