Quick Answer: Is Jio Running In Loss?

Is Jio profitable now?

The telco, led by Mukesh Ambani, on Friday said profit for the quarter rose to Rs 1,350 crore compared with Rs 831 crore a year ago.

The market had estimated profit to be more than Rs 1,300 crore.

Profit was up 36.4 per cent from the preceding quarter.

It is the company’s ninth profitable quarter in a row..

How is Jio giving free data?

To check for the free data on your Jio number, head to the My Plans section of the MyJio app. Jio is offering free additional data to select users in India once again. … A few users have posted on the OnlyTech forums that their Jio accounts have been credited with the 2GB daily data add-on pack for free.

Who is Asia’s richest person?

Mukesh AmbaniAsia’s richest man, Mukesh Ambani, is now among the world’s 10 wealthiest people.

Why is Jio so cheap?

Because of two reasons First is to add customers they are giving cheap Internet which Indians users never dreamt of. We were used to see data plans like 275₹ for 1 GB. But wait they could provide reasonable cheap price like 50 for 1 GB. They could still lure subscribers with this price.

How much Ambani earns in a day?

In 2019, Ambani made an average of almost $4.5 million per day.

In which country Internet is cheapest?

India was named the cheapest country for one gigabyte of data with the average cost in U.S. dollars only coming to $0.26. Kyrgyzstan came second with $0.27 while Kazakhstan rounded off the top-three with $0.49.

Is Jio is in profit or loss?

NEW DELHI : Reliance Jio Infocomm Ltd, India’s largest and only profitable telecom operator, reported a 62.5% year-on-year rise in net profit to ₹1,350 crore for the December quarter, on the back of its move from free voice calling to imposing user charges for calls made to other operators.

Is Reliance Jio making profit?

Mumbai: Reliance Jio Infocomm reported its eighth profitable quarter in a row on the back of strong subscriber additions and high data usage. … Jio’s quarterly profit increased to Rs 990 crore from Rs 681 crore a year ago. The market had estimated a profit of more than Rs 1,000 crore.

Why did Jio give free Internet?

Reliance Jio is trying to provide more data to users so that internet usage gets easy amid Coronavirus lockdown. … For the same purpose, Jio has started offering some users with free 2GB of 4G data as per a new report. Read on to know more about it.

What is Ambani salary?

Ambani’s remuneration for 2019-20 included Rs 4.36 crore as salary and allowances, which is marginally lower than Rs 4.45 crore he got in the previous 2018-19 fiscal. Commission has been unchanged at Rs 9.53 crore while perquisites have risen to Rs 40 lakh from Rs 31 lakh. Retirement benefits were Rs 71 lakh.

Which bank does Mukesh Ambani use?

RIL HDFC BankMukesh Ambani led RIL HDFC Bank: Latest News & Videos, Photos about Mukesh Ambani led RIL HDFC Bank | The Economic Times.

How is Jio in profit?

The telco, led by Mukesh Ambani, on Friday said profit for the quarter rose to Rs 1,350 crore compared with Rs 831 crore a year ago. The market had estimated profit to be more than Rs 1,300 crore. Profit was up 36.4 per cent from the preceding quarter. It is the company’s ninth profitable quarter in a row.

Who is CEO of Reliance Jio?

CEO Mukesh AmbaniReliance/Jio CEO Mukesh Ambani explains new partnership with Facebook.

Is Reliance Industries debt free?

Reliance Industries’ (RIL) chairman Mukesh Ambani in a statement on Friday said the company has become debt-free after it managed to raise Rs 1,68,818 crore in just 58 days. … “Our net-debt was Rs 161,035 crore, as on March 31 2020.