The Indian business who totally disrupt the telecom market. The billionaire Mukesh Ambani who is the owner of Reliance Jio Infocomm Ltd and he has managed to get more than 13.86 users. The market strategy Reliance Jio has changed the pricing strategy of other telecom companies. Reliance Jio started his service with free data and free voice calls to get the number of users. Due to this Airtel and Vodafone also reduce their data prices.
From the BloombergQuint report, the July-September 2017 quarter, “Reliance Jio has reported higher than expected revenue based on subscription charges and lower than expected operational cost.”
The increase in revenue due to “recharges, prime membership revenue and subscription recharges done in April, accounted for in July.”
And for the said quarter, the Reliance Jio company has reported a net revenue of Rs 6147 crore. This happened because the user who availed free services like ‘Summer Surprise’ and ‘Dhan Dhana Dhan’ for the 1st three months, which starts from April was charged in July.
The company also made Rs 260 crore profit before interest and taxes. But surprisingly it has reported that net loss of Rs 271 crore.
Also, the market analysts expect that the company adds another 42 million customers in the 2nd half of the year 2018. By this company will make overall customer base to 20.5 crore users by March 2019.