Posts Tagged ‘Reliance Jio Infocomm Limited’

Mukesh Ambani Discusses State Development Strategies with Andhra Pradesh CM

February 16, 2018

Business tycoon Mukesh Ambani, the Chairman of Reliance Industries Limited (RIL), visited N Chandrababu Naidu, the Chief Minister of Andhra Pradesh on Tuesday, February 13. They had a formal meeting at the Secretariat, Amaravati to discuss how RIL would contribute towards further growth and advancement of Andhra Pradesh.

RIL’s proposal for setting up submarine cable landing station

During the two-hour meeting between Mr. Ambani and Mr. Naidu, the former, on behalf of RIL, proposed to set up an international submarine cable landing station (CLS) in the coastal city of Visakhapatnam. The proposed CLS is set to link the east coast to Myanmar, Andaman and Nicobar Islands, and South-East Asia. However, as per a reliable source, no other details have been shared. The source further stated that to add to RIL’s delight, the Andhra Pradesh CM has approved and supported the proposal of setting up a CLS.

Proposal for setting up information technology and telecom infrastructure 

With an ambition to transform Andhra Pradesh into a data superpower state, RIL has proposed to build a modern information technology and telecom infrastructure on a 10-acre land.

Setting up of an electronic manufacturing cluster near Tirupati 

It is a known fact that Tirupati has been a major mobile manufacturing hub with various key domestic players such as Karbonn, Lava, Celkon, and Micromax having their facilities in this town. Realizing the potential Tirupati has, RIL has the vision of creating an end-to-end ecosystem in the field of electronics. RIL, under the brand name of Reliance Jio, will manufacture various devices like televisions, set-up boxes, batteries, and mobile phones, under the RIL electronics facility. This facility would be located in the Chittoor district near Tirupati on a 150-acre site.

Promotion of education and employment opportunities 

With the thought of generating employment opportunities right after completion of education, RIL has offered to promote a chunk of diploma colleges in the locality. RIL is also planning to develop a workmen-housing corridor in Tirupati Growth Corridor’s vicinity to provide housing and shelter for working professionals.

Setting up of a solar power plant 

RIL is set to build a 150MW solar power plant and data center on its site close to Samalkot in the East Godavari district.

Development of Amaravati

In an extended support to develop the capital city of Amaravati, the RIL chief has put down several points, which need to be implemented. He was of the view that apart from public capital, Amaravati also requires adequate private capital in order to attract international investments and attention. This, in turn, would help contribute towards the growth and development of the capital city to a great extent. 

Explanations by the Andhra Pradesh Chief Minister 

Apart from the multiple aforementioned proposals by RIL, there were many points of explanation made by the Andhra Pradesh CM too. He explained to Mr. Ambani about the Swiss challenge, construction, capital designs, and various other accomplishments in the state. Mr. Naidu emphasized on the importance of ‘fibergrid’ and ‘Real Time Governance’ center in the Chief Minister’s Office (CMO) and its interconnectivity from districts to villages. Mukesh Ambani truly appreciated the CM’s efforts towards the state’s welfare.


Mukesh Ambani visits Andhra Pradesh Chief Minister to discuss RIL’s contribution towards the state.


JioTV to Stream Olympic Games 2018 on its Mobile and Desktop Version

February 9, 2018

Live television app of Mukesh Ambani owned Reliance Jio, JioTV has bagged the digital rights of the Olympic Winter Games 2018. It will broadcast the PyeongChang Olympic Games live for the Indian audiences.

JioTV’s deal

JioTV has entered into a deal with the International Olympic Committee. As per the deal, the app will allow its users to enjoy live as well as catch-up content of the games on their mobile devices.

Reliance Jio revealed that it will create a number of exclusive channels so that the users may watch the tournament live 24×7. It will also offer content through its seven-day catch-up feature.

Apart from this, Reliance Jio was also among one of the highest bidders to bid for the digital rights of the Indian Premier League (IPL) tournament.

2018 Olympic Games

The 2018 Olympic tournament will have 102 events covering 15 sports. The tournament will be conducted at PyeongChang County in South Korea from 9th February to 25th February. Over 90 countries have participated in the tournament. The sports in the tournament include skating, snowboarding, skiing, ski jumping, luge, and ice hockey, among others.

The International Olympic Committee stated that the Olympic Channel will stream the tournament live on its website, YouTube channel, and mobile app. The events will be streamed across the Indian sub-continent in countries like India, Pakistan, Nepal, Bangladesh, Sri Lanka, Maldives, and Bhutan, among others.

JioTV’s desktop version

In December 2017, JioTV launched its desktop version. Subscribers may log in with their IDs and enjoy live television shows and channels on their laptops or Personal Computers (PCs).

The JioTV website is compatible with any browser. It allows users to watch content for free without the dependency on apps. Users may directly watch the programs on their desktop browsers.

To watch the content on JioTV desktop version, users need to visit JioTV’s official website. The URL for the same is Users will need to sign in to the website with their Jio SIM numbers. After the user enters the password to sign in, he may enjoy watching uninterrupted shows.

Jio users create a password for their Jio numbers on the MyJio app. The same password needs to be entered on the JioTV website. 

JioTV app

The JioTV app operates on iOS and Android smartphones and tablets. iOS users require a version that is 7.0 or higher. Android users require a version that is 4.1 or higher.

At present, JioTV has more than 425 channels and over 60 HD channels. The company will continue to add more to these.

Mukesh Ambani led Reliance Jio offers a suite of apps to its users. Apart from JioTV, the package consists of JioMusic and JioCinema, among others. All the apps are exclusively free for Jio Prime members. These apps also work on Reliance Jio’s 4G feature phone, JioPhone.


Reliance Jio’s JioTV has secured the digital rights to live stream PyeongChang Olympic Winter Games 2018. Users may watch the games on JioTV’s mobile app as well as its desktop version.

Reliance Jio to Record a Profit this Quarter

January 12, 2018

Mukesh Ambani owned Reliance Jio to announce a report of its December quarter performance and is expecting to record its first-ever quarterly profit.

Reliance Jio’s profits of this quarter

The October to December quarter is going to be Reliance Jio’s first profitable quarter. This important financial milestone of the company is coming in less than 18 months of its launch. Jio entered the telecom market of India with free services provided to the customers, which triggered a tariff war in the sector.

According to some analysts, the reason behind Jio being closer to seeing profits is because of the shakeout in the telecom industry. This has brought down a number of serious players in the industry.

At the Hindustan Times Leadership Summit, last year, Mukesh Ambani, ame out with a warning for its rivals. He had announced that Reliance Jio is on its way to making profits.

July to September quarter of Jio

A pre-tax profit was reported in the July to September quarter by Reliance Jio. The profit was of INR 261 crore, which was its first-ever operating profit on standalone revenues of almost INR 6,147 crore. Though for the three months till September, Reliance Jio also faced a net loss of INR 270.5 crore.

Last year in September, the Telecom Regulatory Authority of India (TRAI) reduced the interconnect charges for mobile calls to 6 paise from 14 paise. This led to a big blow for the older telecom companies and resulted in a potential boost for Reliance Jio.

Launch of Jio

It has been more than a year now when Ambani launched the fourth-generation wireless service, Jio. It disrupted the telecom market by offering data at cheap dirt prices and free calls on mobile phones. The older players of the telecom market were forced to cut down the prices of their data. Jio offered free voice calls and SMS, which were still not free on other telecom operators. This has helped the company to attract 160 million customers.

Mobile data consumption

The mobile data consumption in India has gone beyond the data consumption of the United States and China combined, in 2017. According to Ambani, the data consumed by Jio users is nearly more than the entire data consumption of the United States and 50 percent more than China. India has become the top country in the world for the usage of mobile data. He also said that it is with Jio that Indian customers are consuming 100 crore GB data monthly, which is more than 3.3 crore GB data daily.

2017 was a year of alteration and bitter competition in the telecom industry. With the demand of data fuelling the digital economy, 2018 might be the growth year for the telecom sector. According to reports from the Press Trust of India, it is estimated that an investment of around INR 3 lakh crore will be made in the coming two years.

Mukesh Ambani led Reliance Jio is set to announce its first-ever quarterly profit for the October to December quarter.

Reliance Retail to Expand its Electronic Arm under Reconnect

January 5, 2018

The retail arm of Mukesh Ambani owned Reliance Industries Limited (RIL), Reliance Retail is extending its arm into the electronics segment. The new devices will be launched under the Reconnect brand.

Reliance Retail’s Reconnect

Reliance Retail has witnessed success for products like television sets, blenders, mixers, and computer mouse. Post this, the company is now planning to launch devices like tablets, dongles, cameras, and electronic wearables under the same Reconnect brand. The company will sell these products through its Reliance Digital and online stores.

As per a report, the tablets are in pilot phase. The employees of the company are testing its usability.

Industry chamber, Assocham and NEC Technologies released a combined study in June 2017. This study revealed that the electronics market in India is expected to grow at a Compound Annual Growth Rate (CAGR) of 41 percent for three years. According to the report, the market will cross USD 400 billion by 2020.

Reliance Retail’s business-to-business expansion

In December 2017, the company announced that it is looking forward to expanding its business-to-business foray in the retail market by the distribution of white goods, Fast Moving Consumer Goods (FMCG), and apparel directly to grocery stores and neighborhood. With this, RIL is aiming to capture a larger share of the market.

Reliance Retail has already informed the vendors that it will begin the trail distribution of apparel from early 2018. By April, it will expand this into white goods and FMCG. According to an executive, the company will begin distribution with its private brands and eventually expand into mainstream brands.

The company will utilize the Jio network for facilitating the expansion. Local shops and grocery stores will receive payments through the platform of JioMoney. The company will also offer extra help to small stores in the form of financial support, GST solutions, merchandising operations, and managing an efficient supply chain. An executive informed that Reliance Retail will initiate the distribution business in 10,000 towns and cities where Jio has already marked its presence.

RIL’s mobile phones

RIL sells smartphones under its LYF brand and the JioPhone under its Jio brand. It began the sale of LYF phones in January 2017. These phones are available on Reliance Digital outlets, Digital Xpress stores, and its official website—

The LYF phones have four variants—Earth, Water, Flame, and Wind. It is expected that the company may introduce more variants in the coming time.

In August 2017, the Mukesh Ambani led company introduced JioPhone, the only 4G feature phone in India. This phone is available at a refunded amount of INR 1,500. The company will refund this money when the user returns this phone after three years. This feature phone has a large screen. It lets users enjoy 4G data and make 4G VoLTE calls. It also allows access to a number of Jio apps.

The monthly plan for the JioPhone is priced at INR 153. It offers free voice calls and 500MB 4G data per day. A weekly plan of INR 54 and a two-day plan of INR 24 are also available.


Reliance Retail will expand into electronics segment by selling cameras, dongles, tablets, and wearables under its Reconnect brand.

Reliance Jio to buy Wireless Assets of Reliance Communications

December 29, 2017

Mukesh Ambani Reliance Jio (RJio) has inked a pact with Anil Ambani’s Reliance Communications (RCom) to buy a majority of the latter’s wireless assets. Both the companies announced this in separate statements on 28th December, the day of the 85th birth anniversary of their father, Late Dhirubhai Ambani.

Wireless assets pact

RCom had received non-binding offers from around 15 companies for its wireless assets deal. RJio turned out to be the highest bidder and inked binding agreements with RCom. The wireless assets of RCom comprise all spectrum, fiber optic network, tower, and other components of the telecom infrastructure. The deal includes 122.4 MHz of 4G spectrum in four bands of 2,100, 1,800, 900, and 800; 43,000 towers; 248 media convergence nodes that cover an area of five million square feet; and 1.78 lakh route kilometer (RKM) fiber with countrywide footprint.

The sale is subject to approval from the government and other regulatory bodies, the release of all encumbrances on the assets, consent from all lenders, and other conditions. RJio will pay the consideration after the completion subject to adjustments given in the agreement. The consideration primarily consists of cash payment and includes the transfer of deferred spectrum installments, which needs to be paid to the Department of Telecommunications (DoT).

The two companies had earlier entered into agreements for sharing spectrum, tower infrastructure, and fiber network.

Win-win deal

The assets deal is said to be a win-win for both the companies. RJio will gain access to RCom’s valuable 4G spectrum and other wireless assets. This will give an additional firepower to the company in its telecom business. RJio mentioned in its statement that these assets are strategic in nature and they will significantly contribute to the company’s large-scale rollout of Fiber to Home and Enterprise and wireless services. On the other hand, RCom will be able to reduce its debt substantially. The company owed INR 45,000 crore at the end of October. Its statement mentioned that RCom will use the cash deal for pre-payment of its debt to the lenders.

Mahesh Uppal, Director at telecom consultant ComFirst India, stated that the deal would surely help RCom address its debts. He said that RJio understands the current value and history of these assets better than anyone else does and hence the deal will help RJio too.

RCom’s assets

RCom is looking to sell its assets and reduce its debt by INR 39,000 crore. Post the deal with RJio, the company will be left with its real estate assets and 134 MHz spectrum. It is understood that the company has already found bidders for the spectrum.

Impact of Reliance Jio

The launch of Mukesh Ambani owned Reliance Jio in September 2016 shook the telecom industry in India. Its cut-price data and free voice affected other incumbent players. The strategy pushed RCom into a debt spiral. Bharti Airtel bought assets of other smaller telecom companies like Tikona Digital, Telenor India, and Tata group’s consumer mobile business. Besides, Vodafone India and Idea Cellular entered into a merger, which was announced during early 2017.


Reliance Jio signs a deal with Reliance Communications to buy the latter’s wireless assets.

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.


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

JioPhone to be the First Feature Phone to Get Google Assistant

December 8, 2017

The JioPhone by Mukesh Ambani owned Reliance Jio, the telecom subsidiary of Reliance Industries Limited (RIL), is all set to become the first feature phone in the world to have Google Assistant.

Google Assistant rollout

In Google for India press conference, Google announced the official rollout of Google Assistant for the JioPhone. While Google Assistant has been customized to suit the JioPhone’s small screen, users will still be able to use it the same way it is used on high-end smartphones. At present, Google Assistant will support English and Hindi. However, there are high expectations that the technology giant will soon release support for other regional languages.

What can JioPhone users do with Google Assistant

With Google Assistant, users may search for quick and relevant information. The search queries can be given in a text or conversation-based manner. Google Assistant will let users make calls, send text messages, play videos and music, as well as access other apps on the phone. This, along with HelloJio, the in-house JioPhone assistant, makes the phone convenient to use. HelloJio also allows users to make calls, send text messages, access apps, and search via voice.

How to get Google Assistant

While it has not yet been mentioned how and when the Google Assistant software will reach JioPhone users, it is expected to be added via an over-the-air (OTA) update. Users may expect this software update in the near future.

About JioPhone

Mukesh Ambani led Reliance Jio’s JioPhone first made headlines when it was released as India’s first 4G feature phone. The phone is said to be almost at par with low-end smartphones, after being released as ‘India ka Smartphone.’

The phone has a QVGA color 2.4-inch screen and a T9 keypad. The phone’s home button acts as a shortcut for starting HelloJio. Encased in an all-plastic body, the phone delivers a power packed performance with both its processor variants. The first is a Snapdragon 205 SoC manufactured by Qualcomm while the second variant is by Spreadtrum.

JioPhone’s operating system is known as KaiOS, a custom fork of the Firefox Operating System. It supports NFC for secure transactions as well as 22 Indian languages for ease of use. The JioPhone lets users surf the Internet and make video calls.

Other features of the phone include 0.3MP and 2MP front and rear cameras, FM radio, 2,000mAh battery with a standby time of 15 days, and access to Jio apps. Besides, the phone also comes with an SD card slot (up to 128GB) for users who need more memory.

JioPhone comes at a refundable deposit of INR 1,500 when returned after 36 months. Customers may claim early refund as follows:

  • If the customer returns the JioPhone after 12 months and before 24 months of purchase, then he/she will receive a refund of INR 500.
  • If the customer returns the JioPhone within 24 to 36 months of purchase, then he/she will receive the refund of INR 1,000.


The JioPhone is soon to be the first feature phone in the world to get Google Assistant.

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.


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

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.


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

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.


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