Reliance Jio’s net loss, which is led by Reliance Industries chief Mukesh Ambani’s new telecom giant, has stood at Rs 22.5 crore in the October-March period. It’s been a time when the company did not offer any income, but instead offered two offers incentives to the customers. In the information given to the stock exchange, the company said that its net loss in the same period a year ago was 7.46 crore rupees.
It is worth mentioning that jIo started its services in September 2016. Although Jio is a non-listed entity of Reliance Industries, it does not need to declare its quarterly results. The net loss in the entire financial year 2016-17 is Rs 31.37 crores, which was Rs 15.71 crores in FY 2015-16.
Jio plans to double its network size. The company intends to set up one lakh additional mobile sites in the coming months. In the statement, the company said that in the use of data it has become the largest network at the global level. In the coming months, the size of the network will be doubled by installing one million mobile sites.
The company said that by March 31, 2017, the number of subscribers on its network increased to 10.89 crore. The statement said, “With data traffic of 110 million gigabytes per month and 220 million voice and video minutes per day, it has become the world’s largest network of live data.”