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 […]
Reliance Jio joins Airtel, Voda Idea in raising tariff; higher rates in a few weeks
NEW DELHI: A day after Bharti Airtel and Vodafone Idea announced their decision to increase tariffs, Reliance Jio on Tuesday said that it will increase telecom service charges in the next few weeks, among other measures. The company in a statement said it would carry out an “appropriate” increase in tariffs which “does not adversely […]
AGR ruling: COAI ignores Jio’s protest; seeks full waiver of telcos’ dues
NEW DELHI: Ignoring its member Reliance Jio’s contentions, telecom industry association COAI has shot off an ‘addendum’ to its earlier demands and has now sought a complete waiver of statutory dues that its other members such as Bharti Airtel and Vodafone-Idea owe to the government following the Supreme Court ruling. The Cellular Operators Association of […]
JioPhone at Rs 699: Reliance Jio announces Diwali offer
NEW DELHI: Reliance Jio today announced a special one-time offer called the JioPhone Diwali 2019 Offer. Jio is making the JioPhone available for a special price of only Rs 699 as against the current price of Rs. 1500 during the festive season of Dussehra and Diwali. In today’s connected world, affordable Internet is as much […]
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 […]
Reliance Jio, Bharti Airtel set to bid for RCom’s physical assets
NEW DELHI: Reliance Jio and Bharti Airtel have expressed interest in bidding for physical telecom infrastructure of Anil Ambani-led Reliance Communications which is undergoing insolvency proceedings, a source privy to the development told PTI. The two companies are , however, are not interested in buying spectrum held by RCom, the source said. The NCLT in […]
Telcos performance diverging in face of Reliance Jio’s growth: Fitch
NEW DELHI: Reliance Jio’s aggressive posturing has begun to show the divergent impact on entrenched telcos, with Vodafone Idea getting impacted sharply and Bharti Airtel holding on, a report said on Monday. The deep-pocketed Jio’s entry has so far impacted all the telcos, forcing mergers and also bankruptcy filings. For Vodafone Idea, it was the […]
Reliance Jio overtakes Bharti Airtel to become India’s 2nd-largest operator
NEW DELHI: Reliance Industries Ltd’s telecom unit Jio pipped rival Bharti Airtel to become India’s second-largest operator by subscribers as of May, government data showed. Jio, controlled by Asia’s richest man Mukesh Ambani, has disrupted the telecom industry in the country since it was launched in 2016, offering cheap bundles and prompting shutdowns. As of […]
Softbank eyes investment of $2-3 billion in Reliance Jio as Mukesh Ambani deleverages biz
NEW DELHI: Japan’s Softbank is reportedly looking to make a $2-3 billion investment in India’s fastest-growing telecom firm Reliance Jio as billionaire Mukesh Ambani looks to deleverage business by selling stakes. This comes on the back of reports of Saudi giant Aramco in discussions to buy a 25 per cent stake in Reliance Industries’ refining […]
RIL Q4 profit up 9.8% y-o-y at Rs 10,362 crore, Jio FY19 net at Rs 2,964 crore
NEW DELHI: Reliance Industries on Thursday reported a record net profit of Rs 10,362 crore in the March quarter as robust revenue from retail and telecom businesses offset weaknesses in the core oil refining and petrochemical segment. Its net profit in January-March, at Rs 10,362 crore, or Rs 17.5 a share, was 9.8 per cent […]
Reliance Jio buys 87% of Haptik for Rs 700 crore
NEW DELHI: Haptik has entered a strategic partnership with Reliance Industries, through its subsidiary Reliance Jio Digital Services Ltd.. The total transaction size, including primary capital investment, is about 700 crore (~100 million USD), with 230 crore as the consideration for the initial business transfer from Haptik to Jio. The Haptik team will continue to […]
Reliance Jio Q3 net profit jumps 65% to Rs 831 crore on rise in customer base
NEW DELHI: Telecom operator Reliance Jio on Thursday reported a jump of 65 per cent in its net profit to Rs 831 crore during the December 2018 quarter, mainly on account of a rise in customer base. The company had recorded a net profit of Rs 681 crore in the corresponding period a year ago. […]
What Ambani said about Reliance Jio at India Mobile Congress: Full speech
Full text of Reliance Industries Ltd (RIL) chairman Mukesh Ambani’s speech at India Mobile Congress: Honourable Minister Shri Ravi Shankar Prasadji, Shri Manoj Sinhaji, Ladies and Gentlemen, A very warm good morning. Dear Friends, Today, we are living in an India of unprecedented hope and promise… …An India that is poised to embrace an immensely […]