Quick Answer: Is Jio In Profit Or Loss?

How much debt is Jio?

Reliance Jio’s net debt has fallen to ₹21,900 crore from its peak of ₹2.17 lakh crore, with global investors pumping funds over the last six weeks, for equity stake in its parent Jio Platforms Ltd., which is a wholly owned subsidiary of Reliance Industries Limited..

Why is Jio so cheap?

I think it is so cheap because Jio works on internet, which is the latest technology. If you are in an area, where there is no internet coverage, the phone will stop working. … The 4G network made by Jio all over India during the past two years was by spending about two and half lakh crores rupees, according to a report.

Is Airtel in debt?

Bharti Telecom has Rs 85 billion of debt on its balance sheet, according to IIFL Securities. IIFL Securities said the technical factors may weigh against Airtel stock for a while but the brokerage remains bullish on the company’s fundamentals.

How much does Mukesh Ambani earn per minute?

Ambani earns approximately US$31,202 every minute That’s based on his US$16.4 billion growth in wealth in 2019, divided by the 525,600 minutes that make up a year.

Is Jio running in loss?

Kolkata: Reliance Jio Infocomm is staring at a potential loss of Rs 15,000 crore ($2.1 billion) in FY19, which isn’t immediately visible because the Mukesh Ambani-led telco uses non-standard depreciation metrics and relies on another group company to bear handset subsidies, brokerage Sanford C Bernstein said.

How much Ambani earns in a day?

In 2019, Ambani made an average of almost $4.5 million per day.

Is Jio making profit or loss?

Jio had reported a net profit of Rs 830 crore in the third quarter of 2018-19 fiscal year. After considering depreciation normalisation impact and subsidy expenses, the normalised net earnings should have been a loss of Rs 3,800 crore, it said.

Is Jio profitable now?

The telco, led by Mukesh Ambani, on Friday said profit for the quarter rose to Rs 1,350 crore compared with Rs 831 crore a year ago. The market had estimated profit to be more than Rs 1,300 crore. Profit was up 36.4 per cent from the preceding quarter. It is the company’s ninth profitable quarter in a row.

How much did Mukesh Ambani invest in Jio?

During the Reliance Annual General Meeting, Chairman Mukesh Ambani announced that Google has invested ₹33,737 crore in Jio Platforms for a 7.7% stake.

How is Jio giving free data?

To check for the free data on your Jio number, head to the My Plans section of the MyJio app. Jio is offering free additional data to select users in India once again. … A few users have posted on the OnlyTech forums that their Jio accounts have been credited with the 2GB daily data add-on pack for free.

How much is Mukesh Ambani worth?

79.6 billion USD (2020)Mukesh Ambani/Net worth

How much does Ambani earn per minute?

If the daily and hourly income of the Ambanis turned your brain to mush, their earnings per minute will have your jaw legit hit the floor. The Ambanis make a whopping $13,318.11 billion every minute of the day! Which means, they pocket Rs 9,32,267.88 lakh every 60 seconds that tick by!

Why Mukesh Ambani is so rich?

Overnight, his wealth rose by $1.2 billion, thanks to the surge in the share prices of his oil-to-telecom company Reliance Industries (RIL), which is also India’s most-valued company. Earlier in the day, RIL shares scaled a record high of Rs 2,010, and its market capitalization stands at Rs 12.70 lakh crore.

Why did Jio give free Internet?

Reliance Jio is trying to provide more data to users so that internet usage gets easy amid Coronavirus lockdown. … For the same purpose, Jio has started offering some users with free 2GB of 4G data as per a new report. Read on to know more about it.

Which country has lowest internet price?

IndiaIndia was named the cheapest country for one gigabyte of data with the average cost in U.S. dollars only coming to $0.26. Kyrgyzstan came second with $0.27 while Kazakhstan rounded off the top-three with $0.49.