Jio pays Rs 30,791 crore to clear bulk of spectrum dues
NEW DELHI: Mukesh Ambani-led Reliance Jio Infocomm Ltd (RJIL), has announced that it has paid Rs.30,791 crore (including accrued interest) to the Department of Telecom (DoT) towards prepayment of the entire deferred liabilities pertaining to spectrum acquired in auctions of year 2014, 2015, 2016 and the spectrum acquired in year 2021 through trading of right […]
Reliance Jio net profit rises 15.5% to Rs 3,489 crore in December quarter
NEW DELHI: Reliance Jio posted 15.5 per cent growth in net profit to Rs 3,489 crore in December-end quarter on a sequential basis. While the company saw 5.3 per cent quarter-on-quarter growth in revenue, net customer additions remained subdued for second consecutive quarter partly impacted by farmer agitations in Punjab. In the third quarter, Jio […]
Reliance Jio to move Punjab and Haryana High Court against vandalism of 1,600 mobile towers
MUMBAI: Reliance Industries Limited (RIL), through its subsidiary Reliance Jio Infocomm Limited, in a petition mentioned to be filed in Punjab and Haryana high court today, has sought urgent intervention of Government authorities to bring a complete stop to illegal acts of vandalism by miscreants, said RIL. These acts of violence have endangered the lives […]
Jio says Airtel, Vodafone Idea partners sabotaging network;Airtels says Jio’s allegations ‘baseless’,
NEW DELHI: Reliance Jio Infocomm Ltd (RJIL) has said that there are “blatant efforts” to sabotage its network in the garb of farmers’ protest by the channel partners of Bharti Airtel and Vodafone Idea. In letters sent to Anshu Prakash, Secretary, Department of Telecommunications (DoT) and P.D. Vaghela, Chairman, Telecom Regulatory Authority of India (TRAI, […]
Mukesh Ambani sold dreams to tech giants for $27 billion, Now he has to deliver
By Anto Antony P R Sanjai and Saritha Rai NEW DELHI: Mukesh Ambani spent much of 2020 convincing Facebook Inc., Google and a clutch of Wall Street heavyweights to buy into his vision for one of the world’s most ambitious corporate transformations. Now flush with $27 billion in fresh capital, Asia’s richest man is under […]
Mukesh Ambani calls for policy steps for early roll out of 5G
NEW DELHI: Reliance Industries (RIL) Chairman Mukesh Ambani on Tuesday said there was a requirement of policy measures for the early roll out of the fifth generation (5G) connectivity technology. Addressing the inaugural session of India Mobile Congress (IMC), Ambani said Reliance Jio will pioneer India’s ‘5G Revolution’ in the second half of 2021. He […]
Reliance Jio’s Q2 net profit logs near 3-fold jump
NEW DELHI: Telecom major Reliance Jio Infocomm on Friday reported a near three-fold rise in its standalone net profit for the July-September quarter at Rs 2,844 crore. During the same period of last year, the company had reported a consolidated net profit of Rs 990 crore. Jio’s revenue from operations during the period under review […]
Jio, Qualcomm begin 5G trials and achieve over 1 Gbps speed
NEW DELHI: Qualcomm Technologies, Inc. and Jio Platforms Limited (Jio) along with its wholly owned subsidiary Radisys Corporation today announced their expanded efforts to develop open and interoperable interface compliant architecture based 5G solutions with a virtualized RAN. This work is intended to fast track the development and roll out of indigenous 5G network infrastructure […]
Jio joins hands with AeroMobile
NEW DELHI :Jio and Panasonic Avionics Corporation subsidiary, AeroMobile, have partnered to launch India’s first in-flight services for JioPostpaid Plus users. Jio’s in-flight service will allow every Indian traveller travelling abroad, to stay connected with voice and data services on a flight, at affordable rates. Currently, the in-flight services will be available to Indians when […]
TRAI issues directions for tariff advertisements
NEW DELHI: In a bid to bring more transparency in telecom tariff advertisements, the Telecom Regulatory Authority of India (TRAI) on Friday issued fresh directions for advertisement of tariff plans by telecom operators. In a circular, the telecom regulator said “telecom service providers shall prominently highlight the additional terms and conditions and shall also provide […]
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 […]
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 […]
General Atlantic to invest Rs 6,598.38 crore in Jio Platforms
NEW DELHI: Reliance Industries Limited and Jio Platforms Limited (Jio Platforms), India’s leading digital services platform, today announced an investment of Rs 6,598.38 crore by General Atlantic, a leading global growth equity firm. This investment values Jio Platforms at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh […]
Saudi, US companies also eyeing stakes in Reliance’s Jio Platforms
NEW DELHI: Two more companies are said to be eyeing stakes in Reliance Jio Platforms, the $65-billion digital unit of Mukesh Ambani-controlled Reliance Industries, suggests a Bloomberg report. If these deals materialise, they would add to a growing list of firms that have recently invested in the Indian company. US private equity firm General Atlantic […]