Mukesh Ambani’s latest telecom thrust: Reliance Jio adds 25 crore subscribers in 25 months, plan ahead

By: | Updated: October 18, 2018 10:30 AM

Reliance Jio punch: Business tycoon Mukesh Ambani-led telcom venture has added a whopping 25 crore subscribers within just 25 months of operations, pointing to the growing popularity of the firm in the telecom space.

Reliance Jio posted a profit of Rs 681 crore in the second quarter of the financial year 2018-19, up 11.3% from previous quarter’s Rs 612 crore.

Reliance Jio punch: Business tycoon Mukesh Ambani-led telcom venture has added a whopping 25 crore subscribers within just 25 months of operations, pointing to the growing popularity of the firm in the telecom space. “We, at Jio, are glad with our progress towards our mission with more than 250 million subscribers on our network within 25 months of commencement of services. Jio was conceived with a mission to connect everyone and everything, everywhere – always at the highest quality and the most affordable price.,” Mukesh Ambani, Chairman and Managing Director, Reliance Industries Limited said yesterday.

Notably, Reliance Jio has continued to remain profitable for the third time in a row even as telcos are facing stiff competition with each other. Jio posted a profit of Rs 681 crore in the second quarter of the financial year 2018-19, up 11.3% from previous quarter’s Rs 612 crore.

Reliance Jio, riding on its cheaper tariff plans compared to its industry peers had crossed the 100 million subscriber-mark in the first 170 days of its launch. The company with 215 million subscribers targets to cover 50% of telecom market by 2020. Recently, the company said that it aims to achieve another 100 million in 15 months.

Reliance Jio continues to be the most popular wireless broadband service provider in the country with it burgeoning subscriber base. “The growth in subscriber base is getting further accelerated with Monsoon Hungama offer for JioPhone, attractive post-paid offerings, and focused partnerships to deepen mobile data penetration in the country,” Reliance Jio said in its press release. 

Mukesh Ambani also announced yesterday will partner with Den Networks Limited and Hathway Cable and Datacom Limited Transaction to accelerate Jio GigaFiber rollout to 50 million homes across 1,100 cities. Sharing ambitious plans for Reliance Jio, RIL said that it will work together with Hathway and DEN and all the LCOs (Local Cable Operators) to offer a quick and affordable upgrade to a world-class line-up of JioGigaFiber and Jio Smart-Home Solutions to the 24 million existing cable connected homes of these companies across 750 cities.

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