Reliance Industries Limited (RIL) and its subsidiary Reliance Jio Infocomm Limited (RJIL) today reported its financial performance for the quarter / year ended 31st March, 2017. Reliance Jio posted a net loss of Rs 22.50 crore for the six months period of October, 2016 till March 2017, up from Rs. 7.46 crore in the previous financial year. Its income dropped 76% to Rs 54 lakh, compared to Rs 2.25 crore in the same period last year.
The company crossed 50 million subscribers in 83 days and in February it clocked 100 million in 170 days, adding at an average rate of 6 lakh subscribers per day. As of 31st March 2017, there were 108.9 million subscribers, said the company. It said that it has over 100,000 mobile
towers, and promises to add another 100,000 towers in the coming months.
It said that it continued to solve its interconnection congestion issues with the leading telecom operators during the quarter. “There has been noteworthy improvement in local access in recent weeks. While
NLD interconnection remains an issue in some service areas, Jio is committed to solving this at the earliest and hopes for co-operation from the other operators,” said the company.
It also started roll-out of its Fibre to the Home (FTTH) business
by offering beta trials in a few locations. It said that it will expand the scope of the beta trials over the next few months, but it did not say the date of commercial roll out.