You are here: Home » Companies » News » Telecom
Business Standard

Reliance Industries sees Jio turning profitable 'shortly'

Jio launched late last year with free voice and cut-price data, sparking a price war in India's cut-throat telecoms sector which has driven down margins and forced consolidation

Reuters  |  Mumbai 

Reliance Industries Ltd's telecoms arm Jio will turn profitable "shortly," the Indian conglomerate said on Friday, while adding it would continue to pump around $1 billion into the venture for each of the next few quarters. Jio launched late last year with free voice and cut-price data, sparking a price war in India's cut-throat telecoms sector which has driven down margins and forced consolidation. Oil-to-retail giant Reliance, controlled by India's richest man Mukesh Ambani, suggested there were signs its costly gamble was paying off. Jio racked up Rs ...

This article is no longer available in our repository.

There could be multiple reasons for this.

First Published: Fri, October 13 2017. 21:58 IST