No adverse impact of 11 mn user loss in Q2, was accounting correction: Jio

Jefferies says Q2 result disappointing, cuts earning estimate

Reliance Jio has said the decline of 11 million subscribers in the second quarter was merely a result of an accounting correction and it had zero negative impact on its financial performance.

Jio is also looking to accelerate its customer acquisition by operationalising recently purchased spectrum and is poised to launch an affordable smartphone to target 2G users, Reliance Jio Infocomm president, Kiran Thomas, said in a post result conference call. He added that Jio has become the most preferred service provider highlighting a significant increase in subscribers porting to its network.

Analysts at Jefferies and JM Financial Institutional Securities,