Published: Sun, April 29, 2018
Sci-tech | By Spencer Schmidt

Jio to hire 80000 employees during current fiscal

Jio to hire 80000 employees during current fiscal

Its net profit for the entire fiscal year, which is also its first year of commercial operations, is of Rs 723 crores.

Its PBDIT also increased by over two fold to Rs 2,529 crore in 2017-18 as against Rs 1,179 crore in the previous year.

Revenues from this segment were 13 per cent higher at Rs 38,113 crore over Rs 26,478 crore in the corresponding previous period and Rs 33,726 crore in the preceding quarter.

Increase in revenue is primarily on account of volume increase with start-up of petrochemicals projects and oil price related increase in realisations for refining and petrochemical products. The world's largest ROCG at Jamnagar with a capacity of 1.5 mmtpa, along with downstream plants and utilities, was commissioned on January 2 this year.

134 per cent surge in its retail business.

"We have established strong foundations in retailing and digital services business with world-class supply chain management and network infrastructure which will serve our customers well". The owner of world's largest refining complex earned $11 on turning every barrel of crude oil into fuel in January-March as against a gross refining margin (GRM) of $11.5 in the same period a year ago.

RJio's ARPU came in at Rs 137.1 per month, whereas subscriber base stood at 186.6 million as on March 2018.

Reliance is all set to announce its financial results of Q4 (FY 2017-2018) today at 7 PM. The digital services business posted an operating profit of Rs 1,495 crore compared to an operational loss of Rs 32 crore.

Jio now offers three JioFi devices - JioFi, JioFi M2 and JioFi M2S - and going by the promo image, it seems like the JioFi M2S WiFi Router is being offered as part of the exchange offer. Sales rose 100772300% to Rs 20154.48 crore in the year ended March 2018 as against Rs 0.02 crore during the previous year ended March 2017. The company's earnings before interest, tax, depreciation, and amortization dropped 2.3 percent to Rs.13,425 crore from the third quarter. RIL had launched the telecom services in September 2016.

Reliance Industries in other sectors too saw rising profits in Q4 and it is believed that it might soon be part of the $100 Billion Dollar club with the petro-chemical and retails arms of the huge conglomerate earning record net profits in this quarter of 2018.

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