Reliance Jio made its grand entry into the country’s market kicking aside the stereotypic Internet offers, call cutters and other recharge benefits of all the Mobile network companies. Within no time, this telecom firm occupied the large parts of domestic businesses. The company is constantly pushing itself into gaining new customers for their services.
Thus, the telecom provider has been offering never-seen-before offers to claim the top position in the Indian telecom industry.
Although the challenge is tough, the other telecom companies have managed to come up with several value-for-money data and voice calling plans to counter Reliance Jio. Reliance company owner Mukesh Ambani is trying his hand in every possible business that is being helpful for the people in India.
He even entered Jio DTH services, Jio Payments Bank, JioFi Hotspot, Jio Phones, and much more. Despite an already crowded and highly competitive telecom market, Indian business tycoon Mukesh Ambani led Reliance Jio Infocomm Ltd has managed to get more than 13.86 crore subscribers.
With its lucrative offers and a number of free services, it soon dominated the market and ruined the business of other telecom operators. Needless to say, it gave the market new dynamics and owing to its free schemes which worked as a magnetic pull on customers, other operators such as Vodafone and Airtel were also compelled for decreasing their costs as well as introducing attractive offers.
As per a BloombergQuint report, for the July-September 2017 quarter, “the company has reported higher than expected revenue based on subscription recharges and lower than expected operational cost. The rise was due to recharges, prime membership revenue and subscription recharges done in April, accounted for in July.”
For the said quarter, the company reported a net revenue of Rs.6,147 crore. It was because subscribers who availed free services like ‘Summer Surprise’ and ‘Dhan Dhana Dhan’ for the first three months starting April were charged in July.
Reliance Jio also made a Rs.260 crore profit before interest and taxes. But surprisingly it has reported a net loss of Rs.271 crore. Market analysts expect Jio to add another 42 million customers in the second half of 2018, which will take its overall subscriber base to 20.5 crore users by March 2019.
IIFL made an analysis of TRAI’s data and reported that Vodafone India might soon be overtaken by Reliance Jio which will then become the second biggest operator of the country as far as subscribers in urban regions are concerned.