Jio Turns Worthwhile, Consumer Base Hits 160.1 Million

Revenues of Airtel’s India wireless business fell 22.2% year-on-year and 12.2% sequentially to Rs10,751 crore courtesy Trai’s IUC cut effective 1 October. Graphic Mint

Jio Turns Worthwhile, Consumer Base Hits 160.1 Million

Reliance Retail's revenue in the quarter under review jumped over two-fold at Rs 18,798 crore as against Rs 8,688 crore in the year-ago period.

Commenting on the stock movement, Tulsian said that I will not be surprised to see the share moving into four digits ahead of the Budget or maybe in the coming week.

Bharti Airtel, India's largest telecom operator yesterday reported its seventh straight quarter of profit decline. the Sunil Mittal-promoted company reported over 39 per cent fall in its consolidated net profit for the third quarter this fiscal to about Rs 306 crore.

On a sequential basis, RIL's reported turnover in the December 2017 quarter was up 8.6 percent and net profit was up 16.2 percent. During the quarter, the profit of the company gained 25.53% to Rs 94.45 billion from Rs 75.24 billion in the same quarter previous year.

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Gross refining margin, the profit earned on each barrel of crude processed, was $11.6 per barrel for the quarter, outperforming the benchmark Singapore complex margins by $4.4 per barrel.

The company's debt was marginally lower at Rs 213,206 crore on December 31, 2017 as compared to Rs 214,145 crore at the end of previous year. These were in bank deposits, mutual funds, CDs, Government Bonds and other marketable securities. However, its interconnect charges less than halved to Rs 1,082 crore after the regulator reduced the fee by 57% to 6 paise a minute from 14 paise in October 2017.

Capital expenditure was principally on account of Digital Services business, the balance of expenditure for projects in the petrochemicals and refining business at Jamnagar and in Organized Retail business. Reliance Jio's flagship plan of Rs 399 would provide 20 per cent additional data, increasing the current validity from 70 to 84 days. RIL's GRM outperformed Singapore complex refining margins by United States dollars 4.4/bbl.

The refinery segment contributed ₹75,865 crore to the topline and ₹6,165 crore to profit before interest and taxes (EBIT), while petrochemicals contributed ₹33,726 crore to the topline and ₹5,753 crore to EBIT.

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Reliance Jio Infocomm Ltd, in which the conglomerate has invested more than $30 billion, reported its first quarterly profit of 5.04 billion rupees ($78.97 million).

Jio, launched in late 2016, has amassed more than 160 million subscribers already through its cut-price 4G voice and internet services offerings which sparked a price war in India's cut-throat telecoms sector, driving down margins and forcing consolidation.

RIL shares rose 1.09% to ₹929.35 on the BSE in a firm Mumbai market on Friday, valuing the firm at ₹5.88 lakh crore. Its net additions for the quarter stood at 21.5 million versus 15.3 million in the trailing quarter. PBDIT for Q3 2018 increased by 82.0 percent y-o-y to Rs 606 crore from Rs 333 crore.

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