Mukesh Ambani the billionaire of India upended Indian mobile-phone market like his father Dhirajlal Hirachand “Dhirubhai” Ambani . Dhirubhai Ambani had his Mobile business with slogan called “Kar Loo Duniya Mutthi Mai” and mobile reach to billions of people, after Dhirubhai passed away Mukesh Ambani took over the telecom business then soon after some year Mukesh turned the slogan as “Jio Dhan Dana Dan” and accumulated more than 138.6 million subscribers with Jio and declared Jio earnings for the first time.
- Reliance Jio Infocomm reported Rs. 260 crore profit before interest, taxes
- Company posted net loss of Rs.271 crore on revenue of Rs. 6,150 crore.
The first time Mukesh Ambani, has disclosed his earnings of Reliance Jio Infocomm Ltd. He said, “we had ₹ 260 crore ($40 million) profit before interest and taxes. The company reported a net loss of ₹ 271 crore on revenue of Rs. 6,150 crore”.
Jio company had a world record of accumulated more than 138.6 million subscribers and has triggered a shakeout in the industry by undercutting prices.
Telecom Industry leader like Bharti Airtel Ltd, Tata Group’s and Vodafone Idea Cellular Ltd are in the process of merging their Indian operations to become the largest network of the nation carrier, and Reliance Communications Ltd also planned to merge with Aircel Ltd to stay as largest network in October.