india’s Richie Rich Mukhesh Ambani’s Reliance Jio reportedly faced a net loss of Rs. 22.50 crore in the last six months to March. Eventually Reliance Jio faced net loss of Rs. 22.50 crore when they had no revenue practically but they ran two promotional offers.
Last year in same period Jio’s other income was Rs. 2.23 crore, but this year that income fell down to Rs. 0.54 crore. It is also to be noted that Jio literally had no revenue during October 2016 to March 2017. Net loss in that same period was Rs. 7.46 crore, but this year it jumped to a 3 times more whopping amount of Rs. 22.50 crore.
Jio only took Rs. 99 as prime enrollment charge in March 2017 since its launch September 2016. Still they gave away two back to back promotional offer named Jio Welcome Offer & Jio Happy New Year Offer.
A year earlier Jio had a debt-equity ratio of 0.89. Reportedly debt-equity ratio during second half of 2016-17 was 0.67 with a net worth of Rs. 70,864 crore. It is reported that, Jio’s debt jumped to Rs. 47,463 crore from Rs. 32,963 crore.
We hope that Jio recovers from this loss as soon as possible, so that they can continue the data revolution without any issue.
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