Archive for November, 2017

Jio Prime Members Get a New Triple Cashback Offer

November 10, 2017

Jio has brought new cashback offers and discounts for its prepaid customers.

Jio cashback offers

Mukesh Ambani owned Reliance Jio unveiled some new cashback offers recently. On a recharge of INR 399 users will get a cashback which will include eight vouchers of INR 50 and this amount will be credited to the MyJio digital wallet of the user. Users can use these INR 50 vouchers to do any subsequent recharge or data top-ups.

Jio subscribers are also going to get vouchers worth INR 300 that will be credited to AmazonPay, FreeCharge, AxisPay, Mobikwik, PhonePe, and Paytm, as these are Jio’s partner mobile wallets.

This is not all; subscribers will also get online shopping vouchers worth INR 1,899 and also discounts on flight tickets on specific portals. These offers will start from November 10th and will be valid until November 25th.

Words of the Director General of COAI on the Jio offers

Rajan Mathews, the Director General of the Cellular Operators Association of India (COAI) said that the offer is limited to a class of people in Jio’s customer base. That is the reason it does not violate any Telecom Regulatory Authority of India (TRAI) regulation. He also predicted that it is expected that more of these plans are going to be introduced by telecommunication companies that want to retain customers. He also said that other competitors have to match Jio and the competition just keeps on getting better.

Talking about the new offers by Jio, he said that these are designed so that it protects the July-September average revenue per user (ARPU). To maintain the ARPU the company has to retain the Jio Prime members as well as make sure that cash is constantly coming in. According to Sanjiv Bhasin, the Executive VP at IIFL, these offers are made to achieve that goal.

About Jio and its prepaid plans

Mukesh Ambani led Reliance Jio has been known for its affordable data plans and offers. Until September end, the telecom company had almost 138.6 million users. It had a net loss of INR 270.59 crore and its revenue was INR 6,147 crore for the quarter that ended in September.

Some of the prepaid plans by Jio:

  • INR 19 plan

The plan has a one-day validity and offers 0.15GB data and 20 SMS.

  • INR 52 plan

This plan has 7 days validity and offers 70 SMS. It offers unlimited data but has a daily limit of 0.15GB. This means that the Internet speed will slow down to 64Kbps if the user exhaust the daily limit.

  • INR 98 plan

The INR 98 plan has a validity of 14 days. It offers unlimited data with a daily limit of 0.15GB and also offers 140 SMS.

  • INR 149 plan

This plan has a validity of 28 days and offers unlimited data with a daily limit of 0.15GB, which means the Internet speed will go down to 64Kbps once the user exhausts the daily limit. It also offers 300 SMS.

Summary

Reliance Jio to offer cashbacks and discounts to its Jio prime customers.

Advertisements

Mukesh Ambani Becomes Asia’s Richest Man

November 3, 2017

Mukesh Ambani became Asia’s richest man by overtaking Hui Ka Yan, a Chinese businessman.

Mukesh Ambani on the Forbes Real-Time Billionaires’ list

The Chairman of Reliance Industries Limited (RIL), Mukesh Ambani stands at the 14th rank of the global Forbes Real-Time billionaires’ list. The list of Forbes is based on the value of stock holdings and assets of an individual on a real-time basis.

According to the list, the wealth of Ambani rose from USD 223 million to USD 41.8 billion. On the other hand, the wealth of the Chairman of China Evergrande Group, Hui Ka Yan has gone down by USD 586 million to USD 41.2 billion.

Other businessmen on the list

The Forbes Real-Time Billionaires’ list also had some other businessmen like the CEO and Founder of Amazon, Jeff Bezos who topped the list with the total net worth of USD 93.3 billion. Bill Gates ranked 2nd on the list with a net worth of USD 89.5 billion. Mark Zuckerberg, Founder of Facebook, stood at the 5th position with a fortune of USD 75.8 billion.

Reliance Industries Limited’s earnings

Mukesh Ambani’s RIL has posted a 12.5 percent increase in its consolidated net profit of INR 8,109 crore in the quarter of September FY18. The revenue of RIL has increased by 23.9 percent to INR 101,169 crore i.e. USD 15.5 billion. While in the previous year, it was INR 81,651 crore.

RIL sparked a price war in 2016 after launching its telecom service, Jio. It has a record of 130 million customers. Jio offered free domestic voice calls and data at cheap prices and also launched a new 4G phone that is effectively free.

Mukesh Ambani ranks as the richest Indian

Last year the Chairman of RIL ranked as the richest Indian for the 10th time in a row on the Forbes list with a total worth USD 38 billion i.e. INR 2.5 lakh crore. His younger brother Anil Ambani dropped down to the 45th spot with a net worth USD 3.15 billion, whereas in 2016 he ranked at the 32nd spot.

Ambani’s comment on the Q2 earnings

Commenting on the Q2 earnings, RIL’s Chairman Mukesh Ambani said that RIL has reported a strong and steady performance. He is pleased to share that this also includes Reliance Jio’s financial performance that had a positive EBIT contribution of commercial operations in its first quarter.

While Jio, the telecom arm of RIL has reported a loss of INR 270.6 crore, its revenue for the September quarter has surprised many analysts. Its revenue was INR 6,147 crore while the EBITDA of Jio was INR 1,442 crore. On this, Ambani has also said that this result of Jio is strong and it shows how robust the business model and the other important efficiencies RIL has built with its investment in 4G technology and the right business strategy. He believes that as always RIL has demonstrated excellence in vision, execution, and commercial acumen.

Summary

Mukesh Ambani overtook Chinese businessman Hui Ka Yan and takes the first spot as Asia’s richest man.