Reliance Jio likely to lose Rs 15000cr in FY19: Sanford C. According to Bernstein and Company analysts, Reliance Jio Infocom Limited, India’s most profitable wireless carrier, could lose $ 150 billion ($ 2.1 billion) in this financial year. A big loss compared to its major Indian competitors Bharti Airtel Limited and Vodafone Idea Limited, even if the company known as Jio will remove them in the next 12 months in terms of service revenues and customers, analyst Chris Lane and Samuel Chen. On February 26 a note was given to the customers. The financial year of Jio’s parents of Reliance Industries is ending on March 31.
Reliance Jio likely to lose Rs 15000cr in FY19
Jio- Asia’s Richest man is a part of the Group controlled by Mukesh Ambani, who started the life-long service for a free war in one of the most crowded mobile markets in the world, starting the price war. The push, which included low-cost phones, resulted in the total amount of net handset subsidy of Rs 7,200 crore and the total investment capital was 2.6 trillion, Bernstein estimated.
Jio did not respond immediately to calls, text messages and an email. Phone subsidies are made by a separate unit, Reliance Retail, and therefore Jio’s profit and loss statement do not appear according to the lane and chain. Jio also uses the “non-standard” depreciation matrix in his account, he said.
Ambani’s wireless phone business, which he has said, can handle an initial public offering, has reported consistent quarterly profits. According to Bernstein, to make a positive return on investment, the carrier will have to reduce the handset subsidy and increase the revenue from the users. For the latest updates, you can visit www.indiatimelines.com.
Based on the average of analyst estimates compiled by India’s compiled by India’s largest carrier Vodafone, Idea, Bloomberg, by Customers, there is a net loss of Rs 3,200 Crore possibly for the year ending March. According to estimates, Bharti Airtel is expected to report a loss of Rs 750 Crores.