Archive for the ‘Uncategorized’ Category

Mukesh Ambani Talks About Success, Business, Family and Much More

December 15, 2017

Mukesh Ambani, Chairman of Reliance Industries Limited (RIL) openly discussed topics such as money, family, success, business, and competition at the Hindustan Times Leadership Summit.

Huge investments made in Jio

Ambani talked about the result of the huge investments made in Jio. He said that these results are declared every quarter, and people will get to know more about it soon. He thinks that the returns RIL is getting from Jio is ahead of schedule and the company doesn’t want to predict anything now. He has advised to keep an eye on the next three quarters to know more.

He continued on to say that India will have to participate in the new world, so it needs to have data infrastructure that should be ahead of the United States by 2019. The DNA of RIL is very focused and he believes in the principle of focusing on the goal of being the best and combating all other obstacles. He mentioned how under his father, RIL became the best in the polyester industry. In the same way, while Jio does look like it is competing, all it is trying to do is be the best.

While discussing business

Mukesh Ambani spoke about how his father started RIL and taught them that a business must solve problems. He pointed out the history of RIL and how it started with clothing and textiles. The next step it took was starting a refinery and helping solve the problem of India not importing petrol and diesel.

RIL’s entry into retail was also linked to the need for creating employment and the company looks forward to solving more problems and creating societal value. He said that RIL is ready to take challenges of solving much bigger problems and face risks.

Ambani believes that healthcare, education, and agriculture need attention. He thinks that these sectors have problems that need to be solved and India holds the potential to solve these problems. If we can solve it here then we can solve it anywhere in the world, says Ambani.

Ambani talks about rivalry

When asked about his business rivals, Mukesh Ambani said that he doesn’t think of business in that way. Everyone in the industry has their profits and losses because of the risks that they take. The most important thing to him is what moves the country forward and the gains of the consumers. If the country and consumers benefit then it is worth taking on losses as big companies like RIL can afford it.

What money means to him

When asked about the role money plays in his life, Ambani said that it has never been important to him. Money is important from a company’s point of view as it allows for risks and flexibility but personally, he doesn’t even carry credit cards or cash.

Ambani talks about his family and his reading habits

Ambani expressed that this generation is quite different from his own, as unlike this generation, he could never tell his father ‘you don’t get it’. Talking about his reading habits he said that he reads fiction, technical, and non-fiction at the same time.

Ambani defines success in his own words

Ambani said that for him, fulfillment is important; the feeling of trying your best and giving everything you have even if you don’t get the expected outcome.

Summary

In an interview at the Hindustan Times Leadership Summit, Mukesh Ambani talks about business, family, competition, and much more.

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Jio Extends its Triple Cashback Offer Till December 15th and a Special Plan for Xiaomi Redmi 5A Customers

December 1, 2017

Mukesh Ambani owned Reliance Jio has extended the offer of triple cashback until December 15th, 2017 and has introduced a new plan for the Xiaomi Redmi 5A customers.

Triple cashback offer by Reliance Jio

Reliance Jio introduced a triple cashback offer at the start of November. In this offer, it provides 100 percent cashback vouchers on every recharge of INR 399 or above. The offer also provides cashbacks worth INR 300 instantly on using digital wallets like FreeCharge, Amazon Pay, MobiKwik, Paytm, PhonePe, and Axis Pay for making payments.

Reliance Jio has also partnered with some e-commerce brands and is offering vouchers up to INR 1,899. This offer was supposed to last only until November 25th, but later it was extended until December 15th.

The new users will receive slightly better deals than the existing users on e-wallet platforms. First-time patronizers of MobiKwik, who are Jio Prime members, will get the highest cashback of INR 300.

Offer on the Xiaomi Redmi 5A

Reliance Jio has collaborated with the Chinese smartphone brand Xiaomi and together they have an offer, i.e. a special monthly plan that offers 1GB of data daily worth INR 199. It will also offer free voice calls, unlimited SMS, as well as access to Jio Apps. The plan has 28 days validity and is the lowest tariff plan for a month in the market.

The customers of Redmi 5A will get a cashback worth INR 1,000. The users can avail this cashback by continuing to do a recharge of the INR 199 plan in their accounts for 12 months. The cashback will come in as 10 vouchers worth INR 100 and it will be credited to the customer’s account after the completion of 12 months. To avail the offer, recharge for the first time should be done from 5th December 2017 to 30th November 2018.

Xiaomi Redmi 5A

The Xiaomi Redmi 5A comes in two different variants— a 2GB RAM with 16GB ROM which is worth INR 4,999 and a 3GB RAM with 32GB ROM which is worth INR 6,999. The smartphone has the Qualcomm Snapdragon 425 chipset with a quad-core processor and a 3,000 mAh battery. It has an HD display that measures 5 inches and is fully laminated. The phone runs on the Android 7.1 Nougat operating system.

Other offers by Reliance Jio

Mukesh Ambani led Reliance Jio has partnered with other handset companies for a few more offers.

  • Jio and Oppo offer

Customers who buy the Oppo F3, F3 Plus, F1 Plus, or F5 smartphone will get an additional 4G data of 10GB with every recharge of INR 309 and above. This offer is limited to 10 recharges.

  • iPhone X buyback offer

The iPhone X buyback offer refunds 70 percent of the MRP on the return of the smartphone, after a year. To become eligible for this offer Jio subscribers will have to do a recharge of INR 799 or above every month for a year.

Summary

Jio extends the triple cashback offer and has introduced a new offer for Xiaomi Redmi 5A smartphone customers.

Mukesh Ambani and Mathew Oommen Speak about Taking Digital Innovations to the Grassroots Level at the IMC

October 6, 2017

At the India Mobile Congress (IMC), Mathew Oommen, The President of Network, Global Strategy, and Service Development at Reliance Jio, said that India has the power to generate employment and also create innovation at the taluka level.

Mathew Oommen talks about digital India

Mathew Oommen thinks that there are endless possibilities for making India digital. Some of these initiatives include the Digital India program, Startup India, and Make in India. These programs may create a lot of opportunities for everyone. He believes that LTE is a ‘learn to earn technology’. This technology will bring digital empowerment and make India a secure and digital nation.

Oommen believes that this is the age of advanced technology. With the help of artificial intelligence, visual graphics, virtual reality, natural language thinking, and natural language processing, the way in which people do business will change. He also said that the most important thing is enhanced data security and the privacy and security of India and its people.

Mukesh Ambani talks about making India digital

Mukesh Ambani, the Chairman of Reliance Industries Limited (RIL) said that to become one of the world’s top three economies, India will have to grow from an economy of USD 2.5 trillion to one of USD 7 trillion. He also said that if this has to happen, the telecom and Information Technology (IT) industries will have to play a foundational role in creating the necessary digital infrastructure.

Data, the oxygen of the digital economy

Ambani thinks that data is the oxygen of the digital economy. The most urgent task of the telecom industry is to empower 1.3 billion people with the tools to flourish in the digital marketplace. At the IMC, Ambani also said that data is like new oil, which India doesn’t need to import. It is a valuable source that will create prosperity and opportunities for the nation and its people.

He claimed that 4G coverage will be larger than 2G coverage in India in a period of 12 months. The country has leapfrogged from the 155th rank in the world to being the world’s largest mobile data consuming nation within a year.

Ambani talks about industrial revolution

Mukesh Ambani said that even though India has missed the first three industrial revolutions, the country has got the opportunity to lead the ongoing fourth global industrial revolution. He thinks that this revolution is going to have the most dramatic transformations globally in comparison to the previous revolutions.

Talking about data, he also reiterated that it is the duty of the telecom industry to provide high-speed data, which is inexpensive. He also believes that every Indian should have access to smartphones that are affordable and that can connect to the power of the Internet.

Summary

Mukesh Ambani and one of his officials, Mathew Oommen speak about taking digital innovations to the grassroots level and making India a digital nation, at the India Mobile Congress.

Reliance Jio Offers up to 72 GB Free Data to LYF Customers

June 21, 2017

As per a new scheme, Mukesh Ambani led Reliance Industries Limited (RIL) subsidiary Reliance Jio is now offering customers up to 72 GB or 20 percent more 4G data on the purchase of select LYF smart phones.

20 percent more data scheme

This new offer is applicable to both—existing Prime customers as well as new customers. It will be applicable on select LYF smart phone purchases made from 9th June 2017 till the stocks last. The data vouchers for this scheme will be applicable from the recharge date to 31st March 2018. After 31st March 2018, any unused data voucher will expire and be forfeited.

Along with buying the LYF device, customers will have to make a recharge of INR 309 or INR 509. This will give them a 4G data voucher of 6 GB or 12 GB, respectively. The complimentary 4G data will be credited within two days of the recharge. The vouchers will be valid for not more than six recharges. This means that a customer may avail of up to 72 GB data using these six recharges.

While the 20 percent more data scheme cannot be used with other offers or promotional schemes of the same type, eligible subscribers will still be able to avail of the benefits Jio provides in its Jio Dhan Dhana Dhan scheme. Apart from this, the free data scheme will be discontinued if the subscriber changes the eligible LYF device for another handset, which is not valid under this scheme.

Smart phones applicable under the scheme

The following LYF smart phones are applicable under the scheme:

  • Earth 1
  • Earth 2
  • F1
  • F1S
  • Water 1
  • Water 7S
  • Water 8
  • Water 10
  • Water 11
  • Wind 4S

Activation of the 20 percent more data scheme

As per the Jio Website, subscribers will have to put their Jio SIM in the LYF handset. After this, they will have to download and install the MyJio app on the device. Once the app is installed, subscribers will have to go to the My Vouchers option in the MyJio app. There, they will have to select View Voucher followed by Recharge My Number. Once they confirm the recharge, they will get a Successful Recharge Notification. After this, they will be able to see the additional data voucher under their My Plans section.

Subscribers of Reliance Jio

As per a report by Bank of America Merill Lynch, a global financial services major, 80 percent of Jio subscribers have only one Jio SIM and around 90 percent have subscribed to its Prime membership plan. The report further stated that around 76 percent users are going to continue using Jio’s services once the promotional offer gets over. Moreover, 84 percent subscribers have already paid the monthly top up with a majority choosing the INR 303 or INR 309 plan.

Summary

Mukesh Ambani led Reliance Jio is offering up to 72 GB of free data to the customers of select LYF smart phones, under its 20 percent more data scheme.

Reliance Jio Breaking Records with its Download Speed and Subscriber Base

June 15, 2017

Mukesh Ambani-owned Reliance Jio recently hit its highest speed ever in terms of download with its 4G data. The company has also added a significant number of users, even after its switch from free to paid services.

Reliance Jio’s 4G speed

In May, Reliance Jio’s 4G download speed reached an all-time high of 19.123 Mbps. This data was collected by the Telecom Regulatory Authority of India (TRAI) via its MySpeed application.

Reliance Jio had topped the speed charts in December 2016 with 18.146 Mbps, but in January 2017, the speed was lower. However, from the next month of February till May, Reliance Jio has been at the top in terms of average 4G download speeds.

The average download speed was 17.427 Mbps in February, 16.487 Mbps in March, and, 18.487 Mbps in April. All of these speeds were computed by TRAI via the MySpeed application on a real-time basis.

Reliance Jio in the telecom market

When Reliance Jio was first launched in September 2016, the service was free for the initial six months. It entered the market with a ‘Welcome’ offer which was valid for a period of more than three months. After the expiration of this offer on 31st December 2016, the company introduced the ‘Happy New Year’ offer extending the free services for another three months. The company started charging for its services from April 2017. Even after the switch, Reliance Jio added more subscribers.

A report released by TRAI, titled ‘Highlights of Telecom Subscription Data’, stated that Reliance Jio added 3.9 million new users in April 2017. Its subscriber base has now touched a milestone of 112.55 million.

Mukesh Ambani led Reliance Jio is credited with implementing the largest migration from free to paid telecom services in the world in a limited period of time. The company was able to do this because it ensured a smooth migration by putting in place plans that were simple, affordable, and regulatory compliant. The tariff of Reliance Jio’s 4G data services is at around INR 10 for a day.

The recent TRAI report also stated that the majority of the telecom subscribers use the services of top five service providers. As on 30th April 2017, 88.04 percent market share was controlled by the major five players. Reliance Jio was the highest among them with its 112.55 million subscribers.

Indian telecom sector

In India, the total number of telecom subscribers reached 1,198.89 million by April 2017 end. This is an increase of approximately 4 million from 1,194.58 million in March 2017 end, registering a monthly growth rate of 0.36 percent.

The TRAI report also stated that the total wireless subscribers, which includes GSM, CDMA, and LTE users; have seen an increase of 4.42 million. There were 1,170.18 million subscribers during the close of March 2017 and 1,174.60 million during the close of April 2017. The growth rate registered was 0.38 percent per month.

Summary

Reliance Jio recorded the highest download speed of 19.123 Mbps in May 2017 and reached new heights in terms of subscribers with 112.55 million.

Reliance Jio Partners with Ciena and is Expected to Have 82 Percent of Users after Expiration of Free Offer

March 23, 2017

A survey by United States (US)-based brokerage, Bank of America-Merrill Lynch revealed that a majority of the existing Reliance Jio customers will continue to use the service even after the company starts charging from 1st April 2017.

Findings of the survey

82 percent of the people who were surveyed said that they will continue with their Jio connection once the free offer ends. 96 percent of the ones who responded positively said that they will subscribe to the Jio Prime plan. It was found that the INR 303 plan was the most popular choice amongst these respondents.

The INR 303 Jio Prime plan offers all the benefits of the Happy New Year offer for 28 days. These include unlimited local and national calls, free 4G data with a daily usage cap of 1 GB, free SMS services, and free national roaming, among other facilities.

The survey was conducted online in the third week of March. About 1,000 random Jio users were questioned, with the focus being on garnering a response from mid-end and high-end smart phone users.

83 percent of the total people surveyed said that the 4G network of Jio is at par with other telecom operators, with 41 percent stating it to be better. This indicates that the level of customer satisfaction is increasing for the Mukesh Ambani-led telecom company.

In Bank of America-Merrill Lynch’s last survey, which was conducted in December 2016, 50 percent of users said that Jio was their primary SIM card. This number has now gone up to 66 percent. A majority of the participants even said that Jio offers higher and better data speeds, and reported a notable improvement in its voice quality.

With reference to the survey, Bank of America-Merrill Lynch stated that Jio’s popularity will make retaining high-end customers difficult for incumbent telecom operators. It added that their Average Revenue Per User (ARPU) could get strained.

Recently, Sanford C. Bernstein also conducted a survey. In that, Mukesh Ambani led Jio scored the ‘highest overall on customer loyalty’. In terms of customer service, data speeds, data coverage, convenience, and handset choice, Jio scored more than incumbent operators.

Reliance Jio’s partnership with Ciena

Reliance Jio entered into a partnership with the telecom networking solutions company, Ciena. The US-based company will help Jio in improving its data speeds and supporting the increasing customer base with multi-terabit packet-optical technology.

The new technology will enable Reliance Jio to operate at a speed as high as 200 GBPS. It will also enable Jio to accomplish its dream of pan-India 4G network coverage. The deal is estimated to be worth INR 100 crore.

Mukesh Ambani  led Reliance Jio President Jyotindra Thacker said that the partnership with Ciena will allow Jio to support a higher level of data consumption, offer enhanced services, and boost customer confidence in the brand.

Senior Vice President and Chief Technology Officer at Ciena, Steve Alexander said that Jio understands the needs of the present digital environment and will meet the increasing demands of high-speed data in India.

Summary

According to a survey by Bank of America-Merrill Lynch, 82 percent of users will continue to use Jio’s services even after the company begins charging. Reliance Jio has also joined hands with Ciena to offer high-speed data and support the expanding customer base.

Everything that Customers Need to Know about the Jio Happy New Year Offer

January 2, 2017

The telecom arm of Mukesh Ambani led Reliance Industries Limited (RIL), Reliance Jio, is one of the leading operators in India. Only a short while after the launch of its high-speed 4G services in September 2016, the brand achieved widespread success by garnering a large user base. The welcome offer introduced by Jio managed to give users across the country an opportunity to experience high-speed 4G services for free. This offer spanned across a period of three months, with 31st December 2016 being the last day of its validity.

Services available under the new offer

However, Jio intends to give customers access to free data and a range of applications for a longer period of time, which is why it launched the Jio Happy New Year Offer. Chairman and Managing Director of Reliance Industries Limited (RIL), Mukesh Ambani, announced that this offer will be valid until March 31st, 2017. As per the offer, users will be able to enjoy services like messaging, video calling, voice calling, apps, and other data facilities for free. There is only one significant change in this offer. While the earlier welcome offer had a Fair Use Policy (FUP) limit of 4 GB, the new offer has the limit of 1 GB. This move was taken to reduce network congestion and improve the digital experience for all Jio users. So now, after users reach the limit of 1 GB, their speeds will reduce to 128 Kbps. However, if individuals wish to use more data than the set limit, they can avail of 1 GB data per day with a data recharge of Rs. 51. Additionally, users can opt for the 6 GB plan that costs Rs. 301, with a validity of 28 days.

Benefits to customers

Mukesh Ambani announced that all existing Jio customers, as well as those who apply for new Jio SIM cards, will be able to enjoy the benefits of the Jio Happy New Year Offer.

Mukesh Ambani also spoke about his dreams for a digitally-enabled India at an event. He spoke about the brand’s success in terms of garnering users. Mukesh Ambani also made references to incumbent operators’ uncooperative behavior. According to him, Jio’s new offer also adheres to all the rules set by the Telecom Regulatory Authority of India (TRAI).

Besides the Jio Happy New Year Offer, customers will also be able to derive long-term benefits since Jio has made voice calling and messaging services free for a lifetime. Apart from efficient data services, Reliance Jio also offers portable Wi-Fi devices and LYF smart phones. The company is also gearing up to launch its own range of feature phones. These devices will be 4G-LTE compatible and affordable, which will help Jio reach out to customers in the rural market.

Summary

Jio Happy New Year Offer will allow individuals to avail of free data and app services even after expiration of the older welcome offer.

Reliance Jio Launches a New Smart Phone – the LYF WIND 7i

November 17, 2016

Reliance Jio is the telecom and digital arm of parent company Reliance Industries Limited (RIL). Spearheaded by RIL Chairman and Managing Director, Mukesh Ambani, Jio is an attempt to digitize the country and contribute to the Indian Government’s ‘Digital India’ vision. Beyond functioning as a regular telecom operator, Jio is devised to provide end-to-end digital solutions for millions of individuals across the country, even in remote areas.

The comprehensive range of digital services offered by Reliance Jio includes telecom facilities, premium applications, personal hotspot devices, and 4G-LTE smart phones. The smart phones are sold under the brand, LYF, which offers devices spanning across various price segments. This ensures that all individuals can enjoy Jio 4G services conveniently. The brand recently launched the LYF WIND 7i, which is a slightly identical version of its predecessor, LYF WIND 7.

LYF WIND 7i

The LYF WIND 7i model is a dual-SIM mobile phone, available in the colors, black and blue. Sporting a metallic body and a 5-inch 720p display, it retails at Rs. 4,999. The smart phone functions on a Quad-Core Qualcomm Snapdragon 210 SoC, which is also the processor that powers the LYF WIND 7. The LYF WIND 7i model also offers 1GB RAM and 8GB internal storage.

The smart phone also flaunts an 8MP LED-enabled rear camera, with the auto-focus feature, while the front camera is a 5MP shooter. Both the cameras can record videos at 720p. The device has a 2250mAh battery, which provides nine hours of talktime on 4G network and 180 hours on the standby mode.

With respect to connectivity options, the device supports 4G LTE like all the other LYF models. It is also compatible with USB 2.0, Bluetooth, Wi-Fi, and GPS. The phone is also built to support the USB OTG feature.

Flagship feature phones by Reliance Jio

Although many Jio smart phones are entry-level ones that cater to first-time data users, the price may be a barrier to millions residing in the country. In order to counter the same, the company is gearing up to introduce a line-up of feature phones under the Jio brand. Feature phones provide Internet accessibility but lack the advanced features offered by the latest smart phones in the market. Retailing around the Rs. 1,000 bracket, these 4G-compatible devices will have inbuilt Jio features. The phones are also expected to have quality front cameras, which will enable seamless video calling. The devices will be offered with the Jio 4G welcome offer, which lets individuals enjoy free services for a stipulated period of time.

In order to widen its extensive user base that currently amounts to more than 24 million, Mukesh Ambani led Reliance Jio is launching new devices and will soon introduce flagship feature phones. These are aimed at exploring the market segments that are relatively untapped by smart phone manufacturers and service providers. A majority of the Indian population resides in Tier-II and Tier-III cities, wherein calling is the only feature that is extensively used. Advanced Jio feature phones and the welcome offer will help encourage such consumers to try the company’s digital offerings and join the digital revolution.

Summary

Reliance Jio launches LYF WIND 7i and prepares to introduce a range of flagship feature phones in the market.

Reliance Jio Launches LYF F1 – A Special Edition Smart Phone Model

October 24, 2016

Reliance Jio is the telecom brand managed by parent company Reliance Industries Limited (RIL). Set to function as a comprehensive digital ecosystem, Reliance Jio also offers smart phones under the brand, LYF, in addition to its high-speed 4G services. LYF has an extensive range of 4G-enabled smart phones that support LTE technology. Its latest, LYF F1, is a special edition model retailing at Rs. 13,399. It was unveiled by Bollywood actor and model Genelia D’Souza in Mumbai.

Available across all Reliance Digital outlets, the model is offered on 10% cashback to all Citibank card holders. Apart from that, Bluetooth speakers worth Rs. 3,000 are also offered along with the LYF F1. All LYF F1 owners will also receive Rs. 15,000-worth of Reliance Retail gift vouchers.

Phone specifications

The LYF F1 boasts of a 5.5-inch HD IPS display offering a pixel resolution of 400 ppi. The screen has Corning Gorilla Glass 4, which provides optimum protection to the device’s exterior. Weighing 153 grams, the phone’s dimensions are 155.5×77.6×7.9 mm. Additional features of the smart phone include a proximity sensor, electronic compass, accelerometer, gyroscope, and an ambient light sensor.

In terms of its functioning, the smart phone comes with a Qualcomm Snapdragon 617 MSM8952 Octa-core processor. It offers 3GB RAM and a 32GB expandable memory that may be extended up to 128GB with the help of a microSD card. It functions on a 3200 mAh battery that is built to last an entire day. The device sports an 8MP front camera with the autofocus feature and a 16MP rear camera that supports PDAF and EIS. The dual-SIM smart phone operates on Android version 6.0.1 Marshmallow. The device also has4G and VoLTE support.

USP of the LYF F1

When it comes to features, the LYF F1 ranks a notch higher than its competitors. One such feature, ‘Smart Ring’, helps users locate their smart phone even when it is on the silent mode. Additionally, the Smart Play feature prevents users from missing out on any action by causing a video to pause when a viewer looks away. Apart from that, the carrier aggregation feature enhances the phone’s Internet speed while also ensuring that the device’s battery life is not affected. The inbuilt custom video player also lets users view two videos simultaneously on their smart phone screens.

Rich Communication Services

The LYF F1 limited edition smart phone offers integrated Rich Communication Services (RCS). These enable individuals to enrich their user experience since RCS facilitates higher quality calling and messaging over the user’s SIM card. RCS also provides support for faster file sharing, group messaging, and emoji exchanges. Users can make video calls, share multimedia, and opt for screen sharing during a call with the help of these services. Additionally, individuals can share their location, notes, and also specify the urgency level of the calls placed.

The President of Devices at Reliance Retail, Sunil Dutt, explained how the LYF F1 model is designed to fully harness the power of the superior Jio network. Available across the country at flagship stores, he claimed that users can become future-ready by acquiring the LYF F1 smart phone.

Summary

The LYF F1 is a special edition smart phone model by Reliance Jio that retails at Rs. 13,399.

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”.