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Reliance Jio loss widens to Rs22.5 crore for first half of FY17

LiveMint logoLiveMint 24-04-2017 Reuters

Reliance Jio Infocomm Ltd on Monday reported a net loss of Rs22.5 crore for the first half of the fiscal year 2016-17. Jio had reported a loss of Rs7.46 crore in the corresponding period of the previous fiscal.

The company’s total income fell to Rs54 lakh from Rs2.25 crore in the year-ago period.

Reliance Jio’s services were launched free of cost last September, with customers being allowed unlimited voice calls and data usage. Services remained free between January and March, with the difference being that data usage was capped at 1GB/day.

The company said it would start charging customers from 1 April, but later changed its mind and said services between April and June would remain free for those who pay in advance for services.

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