news


Jio earnings more than double as it tops a quarter of a billion subscribers

Jio logo

The spectacular, if unsurprising growth of Indian operator Reliance Jio continues with an annual EDITDA increase of 148%.

You can see the main numbers below and you don’t even need to be able to get your head around India’s arcane number system to see that everything’s moving in the right direction, fast. This doesn’t come as a great surprise since it put up similarly spectacular numbers last quarter too, but the Jio train is showing no sign of slowing.

Jio Q3 financials

“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,” said Reliance boss Mukesh Ambani. “Our next generation FTTH and enterprise services are now being made available to our customers to further enhance our value proposition to our customers. We are making rapid progress on the growth of our digital platforms, across new commerce, media and entertainment, agriculture, education, healthcare and financial services, which will further enhance the quality of life and productivity of the people of India.”

Not content with all this ownage, Jio is splashing some of the cash that is now flowing in on some other strategic investments. It has grabbed majority stakes in Indian cablecos Den Networks, Hathway Cable and Datacom, as well as a 12.7% stake in US personal rapid transit company SkyTran,

“Our partnership with SkyTran reflects our commitment to invest in futuristic technologies,” said Jio Director Akash Ambani. “Reliance is well-poised to capitalize on its existing business portfolio and capabilities to accelerate the development of SkyTran across the world and especially in India.”

Check it out.

 


Leave a comment

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>

Polls

Should privacy be treated as a right to protect stringently, or a commodity for users to trade for benefits?

Loading ... Loading ...