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  • Q3-17: Reliance: Jio busts records, organized retail op profit grows 55 percent

    Q3-17: Reliance: Jio busts records, organized retail op profit grows 55 percent

    BENGALURU: The Mukesh D Ambani led Reliance Industries Limited (RIL) organized retail segment – Reliance Retail,  continued its growth momentum and profitability in the quarter ended 31 December 2016 (Q3-17, current quarter), while its digital services offering Jio has broken all records in terms of subscriber acquisition.

    The RIL earnings release for Q3-17 says that Jio has created a world record by crossing 5 crore (50 million) subscribers in 83 days of operations. The company says that this subscriber addition rate is the fastest achieved by any company in the world including the likes of Facebook, WhatsApp and Skype. It says further that Jio continues its rapid ramp up of subscriber base and as of 31 December 2016, in less than 4 months from commencement of services, there were 7.24 crore or 72.4 million subscribers on the network.

    Ambani, said, “I am also delighted by our country’s eagerness to adopt to a digital life as witnessed by the record breaking launch of Jio. Its comprehensive ecosystem has enabled millions of Indians to lead a richer life through its offerings.”

    Organised Retail

    RIL’s Organised Retail segment revenue in the current quarter increased 47.2 percent year-over-year (y-o-y) to Rs 8,688 crore as compared to Rs 5,901 crore and increased 7.5 percent quarter-over-quarter (q-o-q) from Rs 8,079 crore. 

    The segment’s EBIT increased 55 percent y-o-y to Rs 231 crore from Rs 149 crore and increased 42.6 percent q-o-q from Rs 162 crore.

    The company says that overall impact from demonetization has been positive for core retail business with favourable long-term implications for modern trade. It says further that according to Nielsen, Reliance Fresh and Smart stores grew faster than the modern trade during the demonetization period and its share of trade went up from 26.2 percent pre demonetization to 27.8 percent post demonetization

    RIL says that during the quarter, Reliance Retail added 111 stores across various store concepts. As on 31 December 2016, Reliance Retail operated 3,553 stores across 686 cities with an area of over 13.25 million square feet.

    RIL numbers

    RIL achieved a turnover of 84,189 crore ($ 12.4 billion), an increase of 16.1 percent, as compared to Rs 72,513 crorein the corresponding period of the previous year. The company says that increase in revenue is primarily on account of increase in prices of refining and petrochemical products led by 13 percent increase in Brent crude prices. Turnover was also boosted by robust growth in retail business.

    Operating profit before other income and depreciation increased by 2.7 percent on a y-o-y basis to Rs 11,552 crore ($ 1.7 billion) from Rs 11,248 crore in the previous year. The company attribute the growth to strong operating performance from petrochemicals businesses, sustained strength in refining business and favourable exchange rate movement. This was partially offset by losses in Oil & Gas business due to lower volumes and weak domestic price environment.

    Profit after tax was higher by 3.6 percent at Rs 7,506 crore ($ 1.1 billion) as against Rs 7,245 crore in the corresponding period of the previous year. 

    Basic earnings per share (EPS) excluding exceptional items for the quarter ended 30th September 2016 was Rs 25.4 as against Rs 24.6 in the corresponding period of the previous year.

    Note:The unit of currency in this report is the Indian rupee – Rs (also conventionally represented by INR).The Indian numbering system or the Vedic numbering system has been used to denote money values. The basic conversion to the international norm would be:

    (a) 100,00,000 = 100 lakh = 10,000,000 = 10 million = 1 crore.

    (b) 10,000 lakh = 100 crore = 1 arab = 1 billion.

  • Q3-17: Reliance: Jio busts records, organized retail op profit grows 55 percent

    Q3-17: Reliance: Jio busts records, organized retail op profit grows 55 percent

    BENGALURU: The Mukesh D Ambani led Reliance Industries Limited (RIL) organized retail segment – Reliance Retail,  continued its growth momentum and profitability in the quarter ended 31 December 2016 (Q3-17, current quarter), while its digital services offering Jio has broken all records in terms of subscriber acquisition.

    The RIL earnings release for Q3-17 says that Jio has created a world record by crossing 5 crore (50 million) subscribers in 83 days of operations. The company says that this subscriber addition rate is the fastest achieved by any company in the world including the likes of Facebook, WhatsApp and Skype. It says further that Jio continues its rapid ramp up of subscriber base and as of 31 December 2016, in less than 4 months from commencement of services, there were 7.24 crore or 72.4 million subscribers on the network.

    Ambani, said, “I am also delighted by our country’s eagerness to adopt to a digital life as witnessed by the record breaking launch of Jio. Its comprehensive ecosystem has enabled millions of Indians to lead a richer life through its offerings.”

    Organised Retail

    RIL’s Organised Retail segment revenue in the current quarter increased 47.2 percent year-over-year (y-o-y) to Rs 8,688 crore as compared to Rs 5,901 crore and increased 7.5 percent quarter-over-quarter (q-o-q) from Rs 8,079 crore. 

    The segment’s EBIT increased 55 percent y-o-y to Rs 231 crore from Rs 149 crore and increased 42.6 percent q-o-q from Rs 162 crore.

    The company says that overall impact from demonetization has been positive for core retail business with favourable long-term implications for modern trade. It says further that according to Nielsen, Reliance Fresh and Smart stores grew faster than the modern trade during the demonetization period and its share of trade went up from 26.2 percent pre demonetization to 27.8 percent post demonetization

    RIL says that during the quarter, Reliance Retail added 111 stores across various store concepts. As on 31 December 2016, Reliance Retail operated 3,553 stores across 686 cities with an area of over 13.25 million square feet.

    RIL numbers

    RIL achieved a turnover of 84,189 crore ($ 12.4 billion), an increase of 16.1 percent, as compared to Rs 72,513 crorein the corresponding period of the previous year. The company says that increase in revenue is primarily on account of increase in prices of refining and petrochemical products led by 13 percent increase in Brent crude prices. Turnover was also boosted by robust growth in retail business.

    Operating profit before other income and depreciation increased by 2.7 percent on a y-o-y basis to Rs 11,552 crore ($ 1.7 billion) from Rs 11,248 crore in the previous year. The company attribute the growth to strong operating performance from petrochemicals businesses, sustained strength in refining business and favourable exchange rate movement. This was partially offset by losses in Oil & Gas business due to lower volumes and weak domestic price environment.

    Profit after tax was higher by 3.6 percent at Rs 7,506 crore ($ 1.1 billion) as against Rs 7,245 crore in the corresponding period of the previous year. 

    Basic earnings per share (EPS) excluding exceptional items for the quarter ended 30th September 2016 was Rs 25.4 as against Rs 24.6 in the corresponding period of the previous year.

    Note:The unit of currency in this report is the Indian rupee – Rs (also conventionally represented by INR).The Indian numbering system or the Vedic numbering system has been used to denote money values. The basic conversion to the international norm would be:

    (a) 100,00,000 = 100 lakh = 10,000,000 = 10 million = 1 crore.

    (b) 10,000 lakh = 100 crore = 1 arab = 1 billion.

  • Jio Fibre rolls out in Mumbai; Airtel FTTH, ACT to match pace

    Jio Fibre rolls out in Mumbai; Airtel FTTH, ACT to match pace

    MUMBAI: The rollout of Reliance Jio fibre has begun. Jio has started laying Jio Fibre in Mumbai. It will soon help provide a speed of up to 100mbps. People living in several buildings in Mumbai would be able to subscribe to the service.

    Jio however is not the only company that upping its FTTH game. Most of the major internet service providers as well as startups such as ACT are offering new FTTH plans in select areas. Airtel too is planning to expand its FTTH services. Late last year, Airtel used ‘V Fibre’ technology to start FTTH service in Chennai, assuring 100mbps speed to subscribers and also offered three months of free service, India Today reported.

    The wireless 4G services of Jio are happening. A part of its upcoming plans is soon to come Fibre To The Home (FTTH) service. In November 2016, the company had stated that it would soon plan to “disrupt” the broadband market. Reliance already has an extensive backbone of the fibre network across the length and breadth of India.

    Jio has established up Jio Fibre connectivity inside a number of buildings and people are already using it. For the first three months, the service is reportedly free. Although Jio had earlier planned to deliver speeds of up to 1 GBPs with its FTTH service; however users are receiving a speed between 70mbps and 100mbps. Jio may prepare to ramp up speed in a few days.

    In November, Reliance had stated that it planned to bundle fast broadband service with multimedia services. Jio Fibre is being offered for free; however there would be a one-time charge of Rs 4500 for the router that it is installing in user homes.

    Also Read :

    ‘Broadcasters could consider different pricing for rural-urban subscribers’

    Reliance Jio to offer 1GBps broadband service to homes

    Reliance Jio declares readiness for 4G launch; imports IPTV STBs

  • Jio Fibre rolls out in Mumbai; Airtel FTTH, ACT to match pace

    Jio Fibre rolls out in Mumbai; Airtel FTTH, ACT to match pace

    MUMBAI: The rollout of Reliance Jio fibre has begun. Jio has started laying Jio Fibre in Mumbai. It will soon help provide a speed of up to 100mbps. People living in several buildings in Mumbai would be able to subscribe to the service.

    Jio however is not the only company that upping its FTTH game. Most of the major internet service providers as well as startups such as ACT are offering new FTTH plans in select areas. Airtel too is planning to expand its FTTH services. Late last year, Airtel used ‘V Fibre’ technology to start FTTH service in Chennai, assuring 100mbps speed to subscribers and also offered three months of free service, India Today reported.

    The wireless 4G services of Jio are happening. A part of its upcoming plans is soon to come Fibre To The Home (FTTH) service. In November 2016, the company had stated that it would soon plan to “disrupt” the broadband market. Reliance already has an extensive backbone of the fibre network across the length and breadth of India.

    Jio has established up Jio Fibre connectivity inside a number of buildings and people are already using it. For the first three months, the service is reportedly free. Although Jio had earlier planned to deliver speeds of up to 1 GBPs with its FTTH service; however users are receiving a speed between 70mbps and 100mbps. Jio may prepare to ramp up speed in a few days.

    In November, Reliance had stated that it planned to bundle fast broadband service with multimedia services. Jio Fibre is being offered for free; however there would be a one-time charge of Rs 4500 for the router that it is installing in user homes.

    Also Read :

    ‘Broadcasters could consider different pricing for rural-urban subscribers’

    Reliance Jio to offer 1GBps broadband service to homes

    Reliance Jio declares readiness for 4G launch; imports IPTV STBs

  • Darwin effect: 3-4 telcos may Jio after potential M&As

    Darwin effect: 3-4 telcos may Jio after potential M&As

    MUMBAI: When you can’t fight them, join them. Discretion is the best part of valor — are some of the quotable quotes that one has heard. They seem to be proving right in the context of the neck-and-neck race among the existing rivals and a new entrant in the Indian telecom space.

    The new entrant Reliance Jio has caused a considerable disruption in the space. No matter it is working out to the benefit of the consumer and helping the industry expand albeit at a much lower cost to the end-user, well-entrenched rivals now are on a slippery wicket.

    Vodafone India for example is considering its options of a possible merger with one of the existing rivals. Or, the things could take such a turn that it may be inclined to join the tough new entrant — Jio.

    On the other hand, the leading telco Bharti Airtel too launched a number of schemes to face competition. Meanwhile, Airtel is reportedly in discussion to buy Telenor’s India business in a deal that will involve taking on debt of Rs 1,500 crore to take on Reliance Jio. Telenor operates in six of the 22 telecom circles in India and offers 2G services to its 45 million users.

    Although, there were reports that Vodafone may be seeking merger with Idea or Jio, experts believe a merger with the former was a possibility. Vodafone had launched several tariffs to browbeat competition from Airtel and Jio. The Indian unit is reportedly seeking a merger with one of the top telecom companies following intensified competition. Vodafone may be keen for a possible tie-up with Idea, Jio or another of the top three providers. Jio’s aggressive tariffs and heavy investments started impacting competitor a few weeks after it entered.

    Experts opine that the industry is prepared for a major consolidation with smaller companies such as Telenor likely to be bought over and middle-level companies such as Reliance Communication and Aircel seeking mergers. The exercise will eventually leave space for some 3-4 players.

    But, there is some apprehension. With two decades of existence, it may be a bit early to expect merger for Idea or Vodafone. Vodafone may rather go for a buyout.

    In September 2016, Vodafone invested Rs 47,700 crore in the Indian unit, most of which was used to reduce debt to Rs 35,430 crore by the end of second quarter of 2016-17. By September, the Indian company had 200 million mobile customers. In November, Vodafone cut the valuation of its Indian unit by GBP 5 billion owing to stiff competition.

  • Darwin effect: 3-4 telcos may Jio after potential M&As

    Darwin effect: 3-4 telcos may Jio after potential M&As

    MUMBAI: When you can’t fight them, join them. Discretion is the best part of valor — are some of the quotable quotes that one has heard. They seem to be proving right in the context of the neck-and-neck race among the existing rivals and a new entrant in the Indian telecom space.

    The new entrant Reliance Jio has caused a considerable disruption in the space. No matter it is working out to the benefit of the consumer and helping the industry expand albeit at a much lower cost to the end-user, well-entrenched rivals now are on a slippery wicket.

    Vodafone India for example is considering its options of a possible merger with one of the existing rivals. Or, the things could take such a turn that it may be inclined to join the tough new entrant — Jio.

    On the other hand, the leading telco Bharti Airtel too launched a number of schemes to face competition. Meanwhile, Airtel is reportedly in discussion to buy Telenor’s India business in a deal that will involve taking on debt of Rs 1,500 crore to take on Reliance Jio. Telenor operates in six of the 22 telecom circles in India and offers 2G services to its 45 million users.

    Although, there were reports that Vodafone may be seeking merger with Idea or Jio, experts believe a merger with the former was a possibility. Vodafone had launched several tariffs to browbeat competition from Airtel and Jio. The Indian unit is reportedly seeking a merger with one of the top telecom companies following intensified competition. Vodafone may be keen for a possible tie-up with Idea, Jio or another of the top three providers. Jio’s aggressive tariffs and heavy investments started impacting competitor a few weeks after it entered.

    Experts opine that the industry is prepared for a major consolidation with smaller companies such as Telenor likely to be bought over and middle-level companies such as Reliance Communication and Aircel seeking mergers. The exercise will eventually leave space for some 3-4 players.

    But, there is some apprehension. With two decades of existence, it may be a bit early to expect merger for Idea or Vodafone. Vodafone may rather go for a buyout.

    In September 2016, Vodafone invested Rs 47,700 crore in the Indian unit, most of which was used to reduce debt to Rs 35,430 crore by the end of second quarter of 2016-17. By September, the Indian company had 200 million mobile customers. In November, Vodafone cut the valuation of its Indian unit by GBP 5 billion owing to stiff competition.

  • TRAI violations query: Reliance Jio mum on ‘response’

    TRAI violations query: Reliance Jio mum on ‘response’

    MUMBAI: Reliance Jio chose not to respond to queries regarding its reply to TRAI that was expected today (29 December) in connection with questions raised against alleged violations in extending its free offer till 31 March 2017 much beyond its introductory offer. After two emailed queries and phone calls from indiantelevision.com, Jio chose not to respond.

    Airtel had last week filed a petition before TDSAT (Telecom Disputes Settlement and Appellate Tribunal) accusing TRAI of being ‘sleeping trustee’ and a ‘mute spectator’ to the violations carried out by Jio. Airtel had filed the petition after TRAI questioned Jio over its extended free services as Happy New Year offer.

    Reliance Jio had sought time till 29 December before it responds to the above-mentioned query.

    Soon after Jio announced its offer earlier this month, TRAI came up with a statement assuring that it will closely examine the new offer. However, TRAI failed to come to any conclusion on its examination which is why Airtel then filed the petition.

    As a result, TRAI asked Jio company to explain why its extended free services should not be seen as a violation of existing regulation which restricts promotional offers to 90 days.

    Jio, in a meeting with TRAI, had reportedly said that the latest offer was different from the previous offer as, in the former, the company provided 4GB of free data per day, but in the latter case, it restricted the free internet up to 1GB under Fair Usage Policy. Jio also stressed the fact that in the new offer if the data limit was exhausted, then one had to buy recharge vouchers, which was not the case in the initial offer.

    The petition was presented before the TDSAT bench last Friday, where TRAI sought 10 additional days to take a decision. The next date of hearing has been set on 6 January whereas Jio was expected to respond by 29 December.

  • TRAI violations query: Reliance Jio mum on ‘response’

    TRAI violations query: Reliance Jio mum on ‘response’

    MUMBAI: Reliance Jio chose not to respond to queries regarding its reply to TRAI that was expected today (29 December) in connection with questions raised against alleged violations in extending its free offer till 31 March 2017 much beyond its introductory offer. After two emailed queries and phone calls from indiantelevision.com, Jio chose not to respond.

    Airtel had last week filed a petition before TDSAT (Telecom Disputes Settlement and Appellate Tribunal) accusing TRAI of being ‘sleeping trustee’ and a ‘mute spectator’ to the violations carried out by Jio. Airtel had filed the petition after TRAI questioned Jio over its extended free services as Happy New Year offer.

    Reliance Jio had sought time till 29 December before it responds to the above-mentioned query.

    Soon after Jio announced its offer earlier this month, TRAI came up with a statement assuring that it will closely examine the new offer. However, TRAI failed to come to any conclusion on its examination which is why Airtel then filed the petition.

    As a result, TRAI asked Jio company to explain why its extended free services should not be seen as a violation of existing regulation which restricts promotional offers to 90 days.

    Jio, in a meeting with TRAI, had reportedly said that the latest offer was different from the previous offer as, in the former, the company provided 4GB of free data per day, but in the latter case, it restricted the free internet up to 1GB under Fair Usage Policy. Jio also stressed the fact that in the new offer if the data limit was exhausted, then one had to buy recharge vouchers, which was not the case in the initial offer.

    The petition was presented before the TDSAT bench last Friday, where TRAI sought 10 additional days to take a decision. The next date of hearing has been set on 6 January whereas Jio was expected to respond by 29 December.

  • Jio brings ‘Pokeman Go’ to India; ties up with Niantic

    Jio brings ‘Pokeman Go’ to India; ties up with Niantic

    MUMBAI: Reliance Jio Infocomm today delighted Indian gamers by bringing the sought-after, first-of-its-kind, Augmented Reality game ‘Pokémon GO’ to India in a partnership withNiantic, Inc.- publisher and developer of Pokémon GO in association with The Pokémon Company. With this partnership, thousands of Reliance Digital Stores and select partner premises in India will appear as ‘PokéStops’ or ‘Gyms’ in the Pokémon GO game beginning 14 December, 2016.

    This launch is in line with Jio’s mission to empower Indians with opportunities that are fuelled by the power of data and a Digital Life and to delight them on an ongoing basis with entertainment-based apps, such as ‘Pokémon GO,’ the leading app in the gaming category.

    “We are delighted to partner with Jio to launch Pokémon GO in India,” said Niantic founder and CEO John Hanke. “It’s exciting to see Pokémon fans in India step out and explore their neighbourhoods in search of Pokémon and Jio’s disruptive high speed 4G LTE Network will be an excellent way to experience the game.”

    The two companies will work together to bring Indians a richer and more enjoyable mobile entertainment experience for Pokémon GO, including activating Jio retail locations and charging stations as PokéStops and Gyms within the game and allowing Indians to catch, train, and battle at any of Jio’s outlets throughout the country.

    On Jio’s social messaging app, JioChat, Pokémon players have access to an exclusive Pokémon Go Channel. The Pokémon Go Channel will enable Pokémon Go players to collaborate and be part of an exciting community of players with daily tips, contests, clues, and special events. The Pokémon Go Channel on JioChat a fun way to socialize with other players and level-up faster.

    “With over 500 million downloads globally, we are excited to launch Pokémon GO officially in India on the Reliance Jio network,” said Reliance Jio president Mathew Oommen. “Our partnership with Niantic not only brings access to the Pokémon GO app but also opens the door to more opportunities for our customers to enjoy content on Jio’s one-of-a-kind mobile broadband network.”

    The partnership puts Pokémon GO players on a world-class all-IP data strong network, and during the Happy New Year Offer, Jio SIM customers will be able to download and play Pokémon GO without incurring data charges, like any other apps and content, till 31 March 2017.

  • Jio brings ‘Pokeman Go’ to India; ties up with Niantic

    Jio brings ‘Pokeman Go’ to India; ties up with Niantic

    MUMBAI: Reliance Jio Infocomm today delighted Indian gamers by bringing the sought-after, first-of-its-kind, Augmented Reality game ‘Pokémon GO’ to India in a partnership withNiantic, Inc.- publisher and developer of Pokémon GO in association with The Pokémon Company. With this partnership, thousands of Reliance Digital Stores and select partner premises in India will appear as ‘PokéStops’ or ‘Gyms’ in the Pokémon GO game beginning 14 December, 2016.

    This launch is in line with Jio’s mission to empower Indians with opportunities that are fuelled by the power of data and a Digital Life and to delight them on an ongoing basis with entertainment-based apps, such as ‘Pokémon GO,’ the leading app in the gaming category.

    “We are delighted to partner with Jio to launch Pokémon GO in India,” said Niantic founder and CEO John Hanke. “It’s exciting to see Pokémon fans in India step out and explore their neighbourhoods in search of Pokémon and Jio’s disruptive high speed 4G LTE Network will be an excellent way to experience the game.”

    The two companies will work together to bring Indians a richer and more enjoyable mobile entertainment experience for Pokémon GO, including activating Jio retail locations and charging stations as PokéStops and Gyms within the game and allowing Indians to catch, train, and battle at any of Jio’s outlets throughout the country.

    On Jio’s social messaging app, JioChat, Pokémon players have access to an exclusive Pokémon Go Channel. The Pokémon Go Channel will enable Pokémon Go players to collaborate and be part of an exciting community of players with daily tips, contests, clues, and special events. The Pokémon Go Channel on JioChat a fun way to socialize with other players and level-up faster.

    “With over 500 million downloads globally, we are excited to launch Pokémon GO officially in India on the Reliance Jio network,” said Reliance Jio president Mathew Oommen. “Our partnership with Niantic not only brings access to the Pokémon GO app but also opens the door to more opportunities for our customers to enjoy content on Jio’s one-of-a-kind mobile broadband network.”

    The partnership puts Pokémon GO players on a world-class all-IP data strong network, and during the Happy New Year Offer, Jio SIM customers will be able to download and play Pokémon GO without incurring data charges, like any other apps and content, till 31 March 2017.