Archive for the ‘Jio’ Category

Reliance Jio and SBI to Widen Their Digital Partnership

August 3, 2018

Reliance Jio, the telecom division of Reliance Industries Limited (RIL), and the State Bank of India (SBI) have recently agreed to broaden the scope of their existing digital partnership. This involves a strong focus on the accessibility of online banking services and better loyalty programmes. The customers of SBI, Reliance Jio, and Jio Payments Bank will reap the benefits of this widened joint venture.

Existing partnership between Reliance Jio and SBI

In April 2018, RIL and SBI entered into a joint venture of 70:30, to develop the Jio Payments Bank. After the success of this app, the commercial bank and the telecom company have decided to broaden their partnership.

Details of the extended partnership

Under this new agreement, Reliance Jio plans to integrate SBI YONO into the MyJio mobile application. SBI YONO is a digital platform that offers digital banking, commerce, and financial services, all in one place. Once the integration is complete, customers of the bank can access these features through the MyJio app.

With regards to the customer loyalty programme, SBI and Jio customers will benefit from Jio Prime. Jio Prime will soon offer exclusive deals from Reliance Retail, Jio, and other partner brands and merchants. Under the extended partnership, Jio Prime will also be integrated with SBI Rewardz, which is SBI’s loyalty programme. This will offer SBI customers opportunities to earn additional loyalty rewards and also wider redemption within Reliance, Jio, and more online and physical partner platforms.

Additionally, a joint statement between the bank and the telecom company stated that Reliance Jio will be SBI’s preferred partner for the bank’s design, network, and connectivity needs. With the help of Jio’s broad network in rural and urban areas, SBI plans to facilitate video-banking and other on-demand services.

Comments from both sides of the partnership

While commenting on the extended digital agreement, SBI Chairman Rajnish Kumar stated that the partnership is mutually beneficial for both parties. He stated that a digital bank like SBI is very pleased to partner up with Reliance Jio, which is a popular and successful network provider. Kumar further stated that the co-operation of both sides is expected to enhance the digital foot-print for the customers of SBI. This will be achieved by offering the best and most rewarding customer experiences possible.

When commenting on the extended partnership deal, Mukesh Ambani, the Chairman and Managing Director of RIL, stated that Reliance Jio intends to bolster SBI’s customer base, which is unmatched around the world. To make this possible, Jio will commit its network and platforms. Reliance Retail will also commit its ecosystem. This combination will aim to help SBI and Reliance Jio customers to adopt digital services to meet their consumer needs.


Reliance Jio and SBI have entered into an agreement to broaden the scope of their digital partnership. This involves a focus on online banking services and loyalty programmes to enhance customer experience and help accelerate the growth of the Indian digital atmosphere

All You Need to Know about the JioPhones and the Monsoon Hungama Offer

July 20, 2018

The telecom arm of Reliance Industries Limited (RIL), Reliance Jio recently announced the latest JioPhone Monsoon Hungama offer. The offer will be started from 21st July 2018. Under this offer, users may buy the JioPhone for an affordable price of INR 501 by exchanging their old feature phone.

JioPhone Monsoon Hungama offer

The offer is valid only on the JioPhone and not on the recently unveiled JioPhone2, which will be available from this Independence Day. The offer will start at 5:01 PM on 21st July 2018.

Once the users exchange their old feature phone, they will have to make a recharge of either INR 49 or INR 153 to avail of Reliance Jio’s 4G services on their JioPhone. The prepaid plan of INR 49 offers 1GB 4G data with unlimited voice calling and is valid for 28 days. On the other hand, the prepaid plan of INR 153 offers 1.5GB 4G data with unlimited voice calls and 100 SMS per day, which is also valid for 28 days.

Features of JioPhone
The JioPhone is packed with great specifications. It comes with a 2.4-inch QVGA display along with an SD card slot. It also has FM Radio. Moreover, Reliance Jio will be adding NFC support to the device. The phone also entails a distress button. When the user presses this button, a message would be sent to the user’s loved ones if the user is in distress. The phone can also link the users Jan Dhan accounts and all other modes of secure payments.

Launch of JioPhone2

At the 41st annual general meeting (AGM) of RIL, the Chairman and Managing Director, Mukesh Ambani announced the launch of the new JioPhone 2. JioPhone2 is an enhanced version of its predecessor JioPhone. The JioPhone2 will be available for INR 2,999 and its sale will start from this Independence Day.

Features of JioPhone2
The latest JioPhone2 is equipped with 4GB ROM and 512MB RAM. The device supports SD card for expandable storage up to 128GB. JioPhone2 comes with a 2.4QVGA display. It also has a 2MP rear camera and front-facing VGA camera. Moreover, it supports LTE and VoLTE, dual-SIM, LTE, and VoWi-Fi. The device also supports FM Radio, GPS, Bluetooth, Wi-Fi, and NFC. The phone comes with a smart feature that supports applications like WhatsApp, Facebook, and YouTube.

Under the Monsoon Hungama offer, the existing owners of the JioPhone can upgrade to JioPhone2 by simply paying INR 501.


Reliance Industries announced the JioPhone Monsoon Hungama offer where users may exchange their old feature phones and purchase the JioPhone at a price of INR 500. The company also launched the latest JioPhone2, which will be available from this Independence Day.

Reliance Jio Received 83 Million Rural 4G Subscriptions in 2017 and is Gearing Up for IPL 2018

April 6, 2018

Reliance Jio, the telecom division of the Mukesh Ambani-led Reliance Industries Limited (RIL), had received 238 million 4G subscriptions in 2017. Out of these, 83 million subscribers comprised rural population, according to a new report.

Reliance Jio acquired 160 million users by the end of December 2017, which in itself is an increase of 122 percent from the previous year.

Predictions and analysis by CyberMedia Research

Noted market research firm CyberMedia Research (CMR) has forecasted that by the year 2020, 35 percent of the Indian 4G subscribers will have a 4G-enabled feature phone, which would take the total number of 4G subscribers in the country to 432 million.

The market research firm added that out of three 4G subscribers, one is from the rural area. Faisal Kawoosa, the Head of New Initiatives at CMR stated that Jio had leveraged the early adaptors in the urban space first, and subsequently focused on rural markets for more growth.

CMR anticipates that JioPhone will play an integral role in the rise of Jio 4G services in the rural areas of India. As per CMR’s estimates, there would be 300 million Indian 4G subscribers, out of which 58 million subscribers would have a 4G feature phone, by the end of 2018. The report also stated that the other 81 percent subscribers would prefer using 4G on a smartphone, which includes the ones based on ‘Android Oreo Go’—an Android OS that is optimized for smartphones with lower configuration.

Reliance Jio’s INR 251 IPL 2018 pack offer

In line with the upcoming Indian Premier League (IPL) 2018, Reliance Jio has announced its ‘Cricket Season Pack.’ This pack is priced at INR 251, and cricket fans can use it to stream live matches on their mobile phones. They will receive 102GB data in all, throughout the entire IPL season, which would span over 51 days.

‘Jio Cricket Play Along’ mobile game

In order to encourage engagement among cricket lovers, Reliance Jio has launched a live mobile game named ‘Jio Cricket Play Along’, which gives participants an opportunity to win rewards worth crores. The users will have to download the MyJio mobile app to play this game. The MyJio app can be accessed by users in 11 different languages. This virtual game will have 60 matches over a span of seven weeks. Participants have a great chance to win lucrative prizes such as cash, cars, and a house in Mumbai, among various other rewards.

Reliance Jio’s cricket comedy show

Reliance Jio has made an official announcement about its cricket comedy show – ‘Jio Dhan Dhana Dhan LIVE: Never ‘Run-Out’ of Laughter.’ Both Jio and non-Jio customers will be able to watch it. Famous sports anchors such as Samir Kochhar and noted comedian Sunil Grover will host it. It will debut on Saturday, 7th April 2018 at 7.30 PM. Live episodes of the show will release every Friday, Saturday, and Sunday featuring well-known anchors and comedians.


Reliance Jio acquired 83 million rural 4G subscribers in 2017. It is looking to generate more user engagement during IPL 2018 via an INR 251 pack offer.

Reliance Jio to Launch 100 Gbps Submarine Network

June 30, 2017

Reliance Jio, the telecom arm of Mukesh Ambani owned Reliance Industries Limited (RIL) has more than 100 million subscribers in India. It has announced the launch of its new submarine cable system linking Asia-Africa-Europe (AAE-1).

Geography of the submarine network

In a press statement, Reliance Jio has revealed that the AAE-1 is the longest 100 Gbps technology-based submarine system. This network will stretch over a distance of 25,000 km.

The cable system will be connected from Marseille in France to Hong Kong. It will have 21 cable landings spread across Europe and Asia. There will be Points of Presence (PoP) in Hong Kong and Singapore, and onward connectivity options in France, Italy, and Greece.

The cable will terminate in Singapore but will continue further into Asia taking a route through Thailand and connecting Vietnam, Cambodia, and Hong Kong.

Features of the network

The President of Reliance Jio, Mathew Oommen said that this network has terabit capacity as well as 100 Gbps direct connectivity, which will enable Jio to connect with global content hubs and interconnection points. He further stated that taking this step will ensure Jio continues to offer its customers exceptional high-speed Internet and digital services.

The AAE-1 will connect with other cable systems and fiber networks in order to deliver direct and uninterrupted access to global markets.

Jio has claimed that the design and route of the AAE-1 will ensure least amount of latency between the Middle East, Europe, Hong Kong, and India. The AAE-1 cable system will work on 100 Gbps transmission technology and will boast of a minimum design capacity of 40 Tbps.

AAE-1 cable system

According to Jio, the AAE-1 project will be done in coordination with other telecom providers from Europe, the Middle East, and Asia in order to have a quality and extensive cable network.

The company said that the new cable system will be transiting between several critical hubs and connection points that lie far away from each other. One of the best things about this cable system according to Jio is that it will help deal with the rapidly increasing demand for data bandwidth for videos, offering support to all types of applications, content, and communications. Apart from this, Jio also stated that the bandwidth has been growing exponentially in India, especially after the company entered into the telecom market.

Role of Reliance Jio

Mukesh Ambani led Reliance Jio will provide the Network Operations & Management for the AAE-1 cable system. The network will enhance the state-of-the-art facility in Navi Mumbai.

Mathew Oommen has shared that Jio is excited to participate in the launch of this network and to deliver the cable landing in Mumbai.  He also shared that it is a great time to undertake a project like this because India’s data traffic is continuing its accelerated data consumption and growth.


Reliance Jio is going to launch a submarine network which will connect Asia, Africa, and Europe. It is the longest network of its kind based on 100 Gbps technology.

Jio Has Contributed over 16.2 Million Users to India’s Telecom Subscriber Base

February 3, 2017

India is experiencing a revolutionary transformation in the digital sector. The country even recorded a growth in telecom subscriber base by 21.02 million towards the end of November 2016, owing to Reliance Jio’s massive telecom venture.

Jio responsible for boost in country’s telecom subscriber base

While the number of subscribers in October 2016 was 1,102.94 million, in November 2016, this number shot up to 1,123.96 million, according to a Telecom Regulatory Authority of India (TRAI) report. Therefore, as per the increase in subscribers, the monthly growth rate was recorded at 1.91%. The number of mobile subscribers in India also rose to 1,099.51 million in November 2016 as compared to the previous month’s 1,078.42 million. This large-scale increase in the number of subscribers was attributed to Jio’s active operations in the telecom sector. Mukesh Ambani led Jio has been regarded as one of the biggest contributors to the growing number of telecom customers in India, with the brand adding more than 16.2 million users in November 2016. In only three post its launch, Jio managed to increase its subscriber base to a whopping 51.87 million, owing to its effective marketing strategy and superior 4G services. The company is now a leading brand in the mobile broadband sector.

Social networking platform, Facebook, benefits from Jio

Leading social networking platform, Facebook has also benefitted from Jio’s massive 4G roll out, which was evident in the former’s fourth quarter earnings. Jio’s free 4G services led to a large number of subscribers adopting the facilities and consequently increasing their usage of apps like Facebook. In terms of user base, Facebook stated that India has been the social networking app’s strongest growth market.

David Wehner, the CFO of Facebook, revealed that the company’s growth in Asia mainly witnessed a boost because of the free data services offered by Jio in India. He stated that the promotional free offer launched by the telecom brand considerably impacted Facebook’s revenues. Jio, which was launched in September 2016, made its foray with a preview offer that gave users access to free data services and apps for three months. These services were then extended for another three months with the Jio Happy New Year Offer.  Additionally, the brand even made voice calling free for a lifetime. Jio’s marketing strategy even compelled incumbent operators to reduce their tariff plans as well.

Towards the end of the fourth quarter, Facebook recorded 165 million monthly users in India. This is being considered as the largest user base of the platform anywhere in the world after the United States. Facebook witnessed a year on year consumer base growth rate of 18%. In this regard, out of the 1.23 billion active users worldwide, 396 million have been from Asia.

Recently, a study by mobile analysis application, Smartapp, revealed that platforms like Facebook have profited the most from Mukesh Ambani led Reliance Jio’s telecom services. The analysis even found that ever since Jio’s free promotional offer was rolled out, the login rate for Facebook rose to 467%.


Reliance Jio’s performance in the industry has contributed largely to the total number of telecom subscribers in India, according to TRAI.

Jio Plans to Extend its Network Capacity with an Investment Worth Rs. 30,000 Crore

January 16, 2017

Mukesh Ambani led Reliance Jio has made it to the list of India’s top telecom operators within a few months of its launch. It has not only delivered quality services but also managed to surpass industry standards with its massive subscriber base. The operator intends to keep up its performance by improving its network capacity and expanding coverage. For this, Reliance Jio will be investing a whopping Rs. 30,000 crore. This new investment will make the total investment towards Jio Rs. 1.9 lakh crore.

Investment to develop infrastructure

In a rights issue notice that Jio announced for its existing shareholders, the telecom operator stated that since Jio received a highly positive response to its 4G services it would be beneficial to invest further towards the development of the brand. According to the company, the large-scale demand for 4G services in India is also one of the main reasons to improve Jio’s infrastructure through investments.  Jio added that the finance for the same will be acquired through an equity offering to strengthen the company’s balance sheet. As per the notice, Jio’s board of directors will be making a rights issue worth Rs. 6 billion.

Jio’s subscriber base to increase – JP Morgan

According to an analysis by JP Morgan, Jio will witness steady development in the upcoming months, with its subscriber base set to increase towards the end of FY17. The brand launched its services with the welcome offer that provided customers with unlimited data and app services for three months. This managed to help Jio draw a large number of users to its network. After this promotional deal expired in December 2016, the telecom operator introduced the Jio Happy New Year Offer, which allows users to continue enjoying the free data services and premium applications until 31st March 2017. The company aims to expand its reach and garner close to 100 million customers by the time the Jio Happy New Year Offer ends. The telecom operator has already secured 72.4 million users and as per JP Morgan, the brand is not far from attaining its 100-million target.

Jio’s services

After the free offer ends, customers may opt for any of Jio’s affordable data plans. Customers could select monthly plans like the Rs. 149 package or the Rs. 499 package. Depending on budget preferences, users are free to choose from different plans. The report by JP Morgan revealed that Jio’s free data offerings and affordable tariff plans have led incumbent operators to reduce their data prices as well. The report by JP Morgan stated that Jio’s future growth is also dependent on the number of users who decide to become paid subscribers even after the free offer ends. A recent survey conducted by Bank of America Merrill Lynch revealed that around 85% users will most likely continue as paid customers on the Jio network.


Reliance Jio will invest an additional Rs. 30,000 crore towards expansion of its network infrastructure.

First Phase of Paraxylene Plant at Jamnagar Commissioned by Reliance Industries Limited

December 30, 2016

Reliance Industries Limited (RIL) is one of the country’s largest private conglomerates. It is also a leading company in the oil manufacturing business. On 28th December 2016, RIL announced the Paraxylene (PX) plant’s commissioning in Jamnagar. The plant’s first phase has been commissioned.

Paraxylene plant, Jamnagar

The plant has an annual capacity of 2.2 million tons of PX. World-class crystallization technology from BP has been used to build it. The plant has been created using this technology, which adheres to environment standards and has high energy efficiency. A statement released by Reliance Industries Limited stated that the plant’s commissioning is expected to increase the PX capacity of RIL to 4.2 million tons from the current 2.0 million tons. Additionally, once the whole PX capacity is commissioned, Reliance Industries Limited will emerge as the second largest PX producer in the world. The company will have a share of 11% in global production and 9% in global PX capacity. The increased PX capacity is expected to contribute largely to the refineries’ output, besides helping the Jamnagar complex garner profits.

Since PX is one of the major factors essential for the development of the entire polyester chain, the improved capacity will facilitate growth in RIL’s polyester value chain. This will offer Reliance better margins and also help the company gain global recognition in the polyester industry.

Increased capacity to help garner profits

Chairman and Managing Director of Reliance Industries Limited, Mukesh Ambani stated that the PX plant’s commissioning will be followed by a range of other projects. These will include petcoke gasification, refinery off-gas cracker, and ethane import project. He added that the PX commissioning will mark the beginning of this series of projects. According to Mukesh Ambani, the projects in petrochemicals and refining by RIL fall under the largest contemporary investment segment in the world. Cumulatively, they are worth more than Rs. 100,000 crore.

Mukesh Ambani concluded by stating that all the projects are undergoing developments consistently. He also added that they are on the verge of mechanical completion. According to him, the improved capacity of RIL’s PX plant will help the company come closer to its goal of ranking as one of the leading petrochemical businesses in the world.

Reliance Industries Limited is also basking in the success of its telecom arm, Reliance Jio. Reliance Jio, which launched its high-speed 4G services a few months ago, has become a favorite with customers. Apart from the efficiency of the network services, one of the other factors responsible for its success has been their affordability. Reliance Jio created a large impact in the market when it launched its welcome offer. This offer provides users with free data services until the end of December. Thereafter, the company launched the Jio Happy New Year Offer. This is considered to be an extension of the earlier offer and will be valid till the 31st of March 2017.


Paraxylene plant’s first phase has been commissioned by Reliance Industries Limited.

Reliance Jio Will Partner with Mumbai University to Offer Free Wi-Fi across 833 Colleges

December 7, 2016

Reliance Jio is leading the digital revolution in India and preparing the country to embrace a digital life. Although services like data, voice calling, and Wi-Fi facilities were something that a large segment of people in the country were unable to afford, the scenario has now changed. Jio has been at the forefront of this change by eliminating voice call charges and offering data plans at economical rates.

Free Wi-Fi access in colleges

The company has taken yet another step in this direction by collaborating with Mumbai University to provide free Wi-Fi to students and staff members. As per the plan, the project will be extended to the 833 colleges that are affiliated with Mumbai University. Each student and staff member is expected to receive 20 MB of free data every day. According to the MoU that was signed between the University and Jio, there will be a positive effect on facilities for online payment of fees, canteen coupons, and stationery. The functionality of smart classrooms will also receive a boost because of the move.

Application process

Vice Chancellor of Mumbai University, Sanjay Deshmukh finalized the contract between Reliance Jio and Mumbai University for free Wi-Fi services. The project is estimated to cost approximately Rs. 175 crore. The distribution of services will happen in two phases. The first phase will involve activating the services in 500 colleges by the 28th of December, 2016. In the second phase, the list of pending colleges will have the Wi-Fi facilities operational by January 2017. Vice Chancellor, Sanjay Deshmukh released a statement regarding the Wi-Fi installation process. He stated that applications for the Wi-Fi facilities need to be sent across to Mumbai University by the interested colleges. This should be done before the 28th of December, 2016. He believes that the tie-up with Reliance Jio will greatly benefit staff and students around colleges in Mumbai.

In addition to Wi-Fi services, Jio also has plans to improve the functionality across educational institutes by introducing JioMoney services. These services will facilitate cash-free transactions and also help in keeping a track of records, besides other things.

JioChat promotional offer

Jio is also conducting a promotional drive for its application JioChat. Notifications are being sent across to Jio customers to invite friends to the JioChat app in exchange for free movie tickets. The top 5 customers who invite the most number of acquaintances can also win JioFi 4G hotspot devices. This offer will be active from the 28th of November to the 4th of December, as per reports. JioChat is one of the trending messaging apps on the Google Play store. Users can engage in messaging, voice or video calls, and even initiate group video calls.

Mukesh Ambani led Reliance Jio is rapidly emerging as an industry leader. The brand successfully garnered more than 50 million subscribers within a few months to rank as the leading carrier network in the country because of its impressive user base. Applications like JioChat as well as the Jio Happy New Year Offer will further expand its reach in the country.


Reliance Jio will help Mumbai University open free Wi-Fi services across 833 colleges.

Reliance Jio Launches New Smart Phones – the LYF F1 Plus and LYF WATER 9

October 28, 2016

As part of the Reliance Jio digital ecosystem, the company offers 4G-enabled smart phones under its brand, LYF, which have been designed to complement its high-speed 4G services. Functioning on LTE technology, the exhaustive range of smart phones is available across a wide price segment. This makes it possible for individuals in India to acquire a 4G phone that is both, superior in terms of its performance and budget-friendly at the same time.

Recently, Mukesh Ambani led Jio launched a special edition smart phone, the LYF F1. It followed this up by launching two models, the LYF WATER 9 and an enhanced version of the LYF F1 called the LYF F1 Plus.

LYF F1 Plus

The LYF F1 is priced at Rs. 13,399. Owing to its popularity amongst Indian users, the company decided to offer an upgraded version of the same, called the LYF F1 Plus. Retailing at Rs. 13,099, the LYF F1 Plus is available for purchase exclusively on the Indian e-commerce site, Snapdeal.

With respect to the specifications, both the smart phones flaunt the same features but differ in terms of their processing system. The LYF F1 Plus is powered by an Exynos Octa-core processor that is clocked at a speed of 1.6GHz and operates on Android Marshmallow. The smart phone sports a 5.5-inch AMOLED display with a pixel resolution of 1920×1080. . The phone is protected by Corning Gorilla Glass 4, which acts as a barrier between the FHD screen and protects against drops or scratches.

It has a 16MP PDAF camera with the dual-LED flash feature. The front camera is an 8MP one that facilitates video calling and superior-quality selfies.

The battery of this phone is slated to last for 11 hours of talk time, and 150 hours of standby usage. It is a 3200mAh battery that is non-removable and powered by Quick Charge 3.0. Supporting VoLTE with three carrier aggregation (3A), this smart phone supports Rich Communication Services (RCS), with the Jio4GVoice application.


The LYF WATER 9 is a 5.5-inch smart phone retailing at Rs. 8,499. Sporting a full HD screen, it is protected by 2.5D Dragontrail glass. The smart phone is powered by a MediaTek MT6753 Octa-core processor, which is clocked at a speed of 1.3GHz. In terms of memory, it offers 2GB RAM and an expandable16GB internal memory. The LYF WATER 9 includes a 13MP rear camera that offers the dual LED flash feature, while its front camera is a 5MP one. The smart phone operates on Android 5.1 Lollipop.

In addition to the basic warranty offered on all devices, the LYF WATER 9 allows users to enjoy an extra one-year manufacturer’s warranty. Additionally, the unique fingerprint sensor provided at the back of this device allows individuals to open three applications at the same time using different touch points.

Apart from their superior features, the popularity of LYF smart phones can be attributed to the Jio welcome offer, which allows LYF users to avail of a free Jio 4G SIM card. Through this offer, users can enjoy free voice and video calling, data, and Jio applications till the end of 2016.


Reliance LYF launches two smart phones, the LYF F1 Plus and LYF WATER 9.

Reliance Industries Q2 Results Showcase Strong Earnings

October 20, 2016

Reliance Industries Limited, India’s largest private-sector company announced its Q2 results today. The Mukesh Ambani-led conglomerate showcased strong growth all around. RIL’s Quarterly consolidated net profit stood at Rupees 7,206 Crore ($ 1.1 Billion), up from the last quarter 43.1%. Additionally, its quarterly consolidated PBDIT stood at Rupees 13,551 Crore ($ 2.0 Billion), up 24.8%. The company also announced record earnings in the Petrochemicals Segment (EBIT) and record Quarterly Standalone Net Profit of Rupees 7,704 Crore ($ 1.2 Billion), up by 17.9%.

Key Highlights

The numbers showcased in the live telecast of the Q2 results by Alok Agarwal, CFO of RIL indicated to yet another strong showing by RIL. The consolidated revenue (turnover) increased by 9.6% to Rupees 81,651 crore ($ 12.3 billion). PBDIT increased by 24.8% to Rupees 13,551 crore ($ 2.0 billion) and EBIT margin at 11.3%, up by 148bps. What’s sure to ease shareholder sentiment are the numbers showcasing profit. Profit before Tax (excluding exceptional item) increased by 40.8% to Rupees 9,884 crore ($ 1.5 billion) whereas Cash Profit (excluding exceptional item) and Net Profit (excluding exceptional item) increased by 27.7% to Rupees 10,341 crore ($ 1.6 billion) and 43.1% to Rupees 7,206 crore ($ 1.1 billion), respectively.

Petrochemicals, Refining, Oil & Gas

The core of RIL’s business for the past two decades has been petrochemicals, refining and other key areas in the Oil & Gas sector. The business environment has changed dramatically over time and even in the last quarter presented some new challenges. Considering the overall business outlook of this sector, the overall scenario presented in RIL’s Q2 report does indeed look promising.

Global oil demand continues to remain firm tracking 1.3 mb/d growth in 2016. Demand growth in India has been particularly strong with 8% Y-o-Y overall growth in 1H FY17, led by gasoline (+11%), ATF (+11%), LPG (+11%) and diesel (+3%). Average utilization rates for refineries globally in 2Q FY17 were 87.8% in North America, 86.2% in Europe and 86.0% in Asia. RIL’s exports of refined products from India were at $ 4.8 billion during the 2Q FY17 as compared to $ 5.5 billion in 2Q FY16. Export volumes of refined products remained unchanged on a Y-o-Y basis at 11.1 MMT during the quarter.

New Frontiers

Reliance Industries Limited’s foray into telecommunications has been widely anticipated for some time now. The company’s 4G/LTE initiative, a subsidiary of RIL titled, ‘Reliance Jio Infocomm Limited’ officially launched services on September 1st 2016 with its ‘Welcome Offer.’  Jio has already seen over 16 million users subscribing to its services and is growing at a remarkable pace in the less than 50 days after its official launch. Jio also issued Rupees 2,000 crore of 5 year Non-Convertible Debentures (NCDs), bearing a coupon of 8.32% per annum, payable annually.

With over 2,50,000 crores invested in this ambitious new venture, Reliance is indeed banking on impressive gains from Jio for both, consumers and shareholders.

Chairman and MD on the Q2 Results

With a performance far better than the markets expected, Chairman and Managaing Director of Reliance Industries Ltd., Mukesh Ambani was understandably quite pleased with the numbers showcased in the results. Commenting on the results, he was quoted as saying, “The Company has achieved outstanding second quarter results with strong refining business performance and record petrochemicals segment earnings. Refining business sustained high profitability in a tough environment highlighting our exceptional refining assets, dynamic response to market trends and robust operations. Petrochemicals segment gained significantly from higher volumes, integration and supportive product margins. Our projects in the hydrocarbon chain are at advanced stages of mechanical completion and precommissioning activities. These projects will further strengthen our position as a leading operator in the energy and materials businesses. We are delighted and humbled by the enthusiastic adoption of Jio by India. Jio is built to empower every Indian with the power of data”.