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Tag: RIL

  • Reliance Jio to soon launch 5G services: all you need to know

    Reliance Jio to soon launch 5G services: all you need to know

    MUMBAI: After Reliance Jio took lead in revolutionising how people access the internet with 4G network, it is now preparing to upgrade to lightning speed 5G services. According to media reports, the company has upgraded its 4G IP network and started a pre-5G internet service much ahead of its domestic rivals.

    While operators in the United States will be among the first to launch 5G commercial services between late 2018 and mid-2019, Jio hopes to launch its trial services later this year. Reliance Industries Limited (RIL) recently claimed to have built a future-ready network which will seamlessly deploy 5G.

    The company has already started offering 5G mobile internet services on the same speed level on dry run. However, Jio Network Towers aren’t currently 5G compatible and need to be modified for better functioning.

    It is unlikely for a complete rollout before 2020 in India as per government’s assessment which includes auction of spectrum for 5G services, but telcos may opt for a soft launch much sooner than that.

    Among Jio’s domestic rivals, Airtel has been testing 5G in Delhi-NCR. To test their preparedness for 5G, Vodafone and Idea are conducting similar MIMO technology-based trial runs.

    The leading handset-makers including Samsung, Nokia (HMD), Google Pixel, Xiaomi, LG, Huawei, One Plus Six will most likely announce 5G compatible sets. It is not yet clear if Jio would partner with them. Furthermore, there are reports that Jio might introduce its own 5G handset in the market at a cheaper price.

    Also Read:

    Reliance Jio ready to disrupt wired broadband: Matthew Oomen

    Jio led broadband while Hathway led wired broadband subs growth in 2018

  • RIL is collaborating with Lakme Fashion Week and designer Anita Dongre

    RIL is collaborating with Lakme Fashion Week and designer Anita Dongre

    MUMBAI: World Environment Day – 2018 is going to be special as India is hosting global celebrations of the event today. To commemorate the occasion, Reliance Industries Ltd (RIL) has launched a special T-shirt, branded ‘The Earth Tee’ and designed by renowned fashion designer Anita Dongre, under its unique programme – ‘Fashion for Earth’.

    The idea is to nudge people to switch to fashion that not only enhances aesthetics but also help conserve the environment and our planet.

    During the launch of R|Elan™, at the IMG Reliance’s Lakme Fashion Week in January 2018, RIL collected post-consumer (used) PET bottles from the venue – Jio Garden at the BKC. Those have since been processed, recycled and converted into R|Elan™ GreenGold fabrics – one of the greenest fabrics using which Anita Dongre has designed and created the elegant ‘The Earth Tee’.

    This limited edition ‘The Earth Tee’ has been presented to celebrities, selected by IMG Reliance & Anita Dongre, to join the ‘Fashion for Earth’ movement and spot ‘The Earth Tee’ initiatives.

    RIL a leader in sustainable business development is focusing on promoting the concept of Circular Economy. Earlier this year, at the Lakmé Fashion Week, incidentally – at the same time that R|Elan™ fabrics was launched with Anita Dongre as a design partner – RIL’s R|Elan has launched ‘Fashion for Earth’ an ongoing program to drive awareness pertaining to sustainable fabrics, fashion & living.

    The Earth Tee is the latest initiatives from this program to commemorate the ‘World Environment Day’.

    “Reliance is committed to ensure environmentally sustainable and responsible operations to achieve highest standards of excellence. The ‘Fashion for Earth’ is our endeavour to make people participate in our efforts to conserve environment and the planet. The Earth Tee, designed by Anita Dongre, depicts the new paradigm of environmentally responsible fashion. The initiative is launched to celebrate the initiation of this long-term relationship, as we decided to jointly promote The Earth Tee with Anita Dongre and Lakmé Fashion Week as partners”, a RIL spokesperson said. 

    Reliance Industries, the owner of brand R|Elan, is one of the largest recycler of PET bottles in India, recycling 2.2 billion PET bottles a year.

    The R|Elan GreenGold, made from recycled PET, substantially reduces the emission of greenhouse gases, and cuts down on water usage as well. The fabric is made from pre-dyed fibres that doesn’t require much water. Whatever little water is required, 90% of it is recycled.   

    RIL is the only company in the world that has built a complete circle – right from creation of PET Resin for bottles, and collection of discarded bottles to converting them to Recron GreenGold eco-friendly polyester fibre, which in turn is converted to R|Elan GreenGold fabric for the manufacture of high-fashion apparels.

  • Reliance Jio readies Rs 60,000 cr war chest: Report

    Reliance Jio readies Rs 60,000 cr war chest: Report

    MUMBAI: Reliance Industries Ltd (RIL), according to a Mint report, is likely to invest Rs 60,000 crore in Reliance Jio Infocomm Ltd (Reliance Jio), its telecom unit, this financial year as the company seeks to speed up the roll out of broadband services and expand its wireless network.

    Moreover, Reliance Jio may also borrow as much as Rs 1 trillion, the report quoted sources as saying.

    The fresh investments will also allow Reliance Jio to maintain pricing pressure on rivals, who are bleeding due to a tariff war sparked by the Mukesh Ambani-led company. The firm has also said it remains focused on providing higher value to consumers and will prioritise customer engagement over short-term revenue recovery, which means it will retaliate if rival operators try to sweeten their offers.

    Spokespeople for RIL and Reliance Jio did not respond to queries.

    The company will continue to invest in laying fibre even as it has already built the largest optical fibre network in the country, Jio’s head of strategy and planning Anshuman Thakur said in an interview on 27 April after RIL announced its earnings.

    Reliance Jio will also continue to invest aggressively to acquire content as it sees it as a key differentiator. The company is in final stage of commercial launch of home broadband services, though the rollout is expected to be gradual.

    For the March quarter, Jio reported a 1 per cent growth in profit from the preceding three months. It also saw its average revenue per user fall to Rs 137 in the March quarter from Rs 154 in the preceding December quarter.

    “Clearly, Q4FY18 numbers demonstrate that RJio is no longer insulated from competition and any rise in the same would hurt RJio equally or probably more than the incumbents,” ICICI Securities said in a 30 April report.

    Also Read:

    Reliance Jio makes a punt on tech start-ups

    Jio shifts focus to wired broadband

  • Jio reports maiden annual profit

    Jio reports maiden annual profit

    BENGALURU: Mukesh Dhirubhai Ambani’s biggest start-up in the world Reliance Jio Infocomm Ltd, or simply Jio, had started returning profits a couple of quarters ago. For the year ended 31 March 2018 (FY 2017-18, the year under review), this Reliance Industries Ltd (RIL) subsidiary reported profit of Rs 723 crore against operating revenue of Rs 20,154 crore and value of services of Rs 23,714 crore.

    Jio statement said that it has continued its strong subscriber growth trend with net addition during the quarter ended 31 March 2018 (Q4 2017-18) of 26.5 million (as against 21.5 million in the previous quarter) and a churn of 0.25 percent per month. Jio’s subscriber base as on 31 March 2018 was 186.6 million (18.66 crore). Average revenue per user (ARPU) during the quarter was Rs 137.1 per subscriber per month. A Jio earnings release said that Jio subscribers continue to demonstrate high activity levels with average data consumption per user per month of 9.7 GB and average voice consumption of 716 minutes per user per month. Also, video consumption is at over 240 crore hours per month on the network while Jio apps continue to be highly popular.

    Commenting on the results, RIL chairman and managing director Ambani said, “A full-blown social, mobile and digital revolution is underway across the world, and I am glad that India is not being left behind in any way with the advent of Jio. Everyone at Jio is today proud to have played a pivotal role in transforming the digital landscape of this country and empowering millions of Indians with all the leading digital tools and skills. Jio is offering the ‘power of data’ to each Indian to fulfil every dream and to collectively take India to global digital leadership. The strong financial results of Jio in a competitive market environment demonstrates the robustness of the Jio business model and ability to offer the most value to our customers and partners. Jio has demonstrated that it can scale and sustain its strong financial performance.”

    RIL numbers

    For FY 2017-18, RIL achieved consolidated revenue of Rs 430,731 crore, an increase of 30.5 percent, as compared with Rs 330,180 crore in the previous year. The company’s profit after tax was higher by 20.6 percent at Rs 36,075 crore as against Rs 29,901 crore in the previous year.

    Also Read :

    Jio Music, Saavn to merge; RIL to invest $100 mn in combined entity

    Star India beats Sony, Jio to win media rights for BCCI’s home matches

    Reliance launches JioTV for web

     

     

     

  • Reliance Industries Limited announces strategic investment in Embibe to from India’s largest Artificial Intelligence (AI) based education platform

    Reliance Industries Limited announces strategic investment in Embibe to from India’s largest Artificial Intelligence (AI) based education platform

    Mumbai : Reliance Industries Limited (“RIL”) today executed definitive agreements to acquire majority shareholding constituting 72.69% (on fully diluted basis) from existing investors of Indiavidual Learning Pvt Ltd (“Embibe”), a leading AI-based education platform leveraging data analytics to deliver personalized learning outcomes to each student.

    Reliance has agreed to invest upto Rupee equivalent of US$180 million into Embibe, (including consideration to be paid for acquiring majority stake from existing investors) over the next three years.

    Embibe will use the capital over the next three years towards deepening its R&D on AI in education, as well as business growth and geographic expansion, catering to students across K-12, higher education, professional skilling, vernacular languages and all curriculum categories across India and internationally. The founder and CEO of Embibe, Aditi Avasthi will continue in her leadership role and will drive the growth of the business.

    Speaking on this strategic transaction, Akash Ambani, Director, Reliance Jio, said “The investment in Embibe underlines Reliance’s commitment to growing the education sector in India and the world and making education accessible to the widest possible group of students by deploying technology. Reliance aims to connect over 1.9 million schools and 58,000 universities across India with technology. We are delighted to announce this partnership with Embibe, and believe that their highly experienced management team will be instrumental in enabling Reliance to realize its vision for the education sector, and strengthening Jio’s leadership position as a digital technology company.”

    Aditi Avasthi, Founder and CEO at Embibe, said “Embibe’s team has built an incredible technology platform that can deliver personalized learning outcomes in a way that is truly scalable across all education markets. With robust AI stacks focused on content intelligence and automation, behavioral recommendations and student intelligence, our products have redefined the way edtech can impact the lives of students and teachers. We are supercharging our platform with the ability to deliver both content and outcomes for every learning goal in every student’s journey, to be the leader in personalizing education for India and the world. We are excited to partner with Jio – bringing unrivalled acceleration to our growth story through data and device access. Most of all, we are delighted to partner with Reliance and share their deep conviction and visionary passion to sow the seeds of a new India with data as the new soil.”

    The transaction is subject to customary closing conditions.

    Citibank acted as financial advisor, AZB & Partners, Covington & Burling LLP and KPMG acted as legal advisors and Pricewaterhouse Coopers provided tax advisory and diligence services to RIL. Embibe was advised by Arpwood Capital, Shardul Amarchand Mangaldas & Partners and Khaitan & Company as legal advisors and Deloitte Touché Tohmatsu Limited for tax advisory services.

  • Jyoti Deshpande appointed RIL’s president of the chairman’s office for media

    Jyoti Deshpande appointed RIL’s president of the chairman’s office for media

    MUMBAI: Jyoti Despande has been appointed as the president of the chairman’s office for the media and entertainment business at Reliance Industries Ltd (RIL). 

    With this appointment, Deshpande has stepped down from her current position of executive director at Eros International Media (Eros) but will continue as non-executive non-independent director at the company.

    Kishore Lulla will continue to hold his position of group chairman and CEO of Eros.

    In her new role at RIL, Deshhpande will lead the company’s initiatives in media and entertainment to organically build and grow businesses, such as broadcasting, films, sports, music, digital, gaming and animation, around the content ecosystem as well as integrate RIL’s existing media investments such as Viacom18 and Balaji Telefilms with a view to build, scale and consolidate the fragmented USD 20 billion Indian M&E sector.

    Earlier this year, RIL acquired 5 per cent stake through its subsidiary, in Eros with a view of producing and acquiring digital originals and Indian movies across all languages. 

  • Balaji Telefilms appoints Jyoti Deshpande as non-executive additional director

    Balaji Telefilms appoints Jyoti Deshpande as non-executive additional director

    MUMBAI: Balaji Telefilms has appointed Jyoti Deshpande as the non-executive additional director. The appointment, which was approved following a circular resolution by its board on 22 March, is in compliance with share subscription agreement entered into between Balaji and Reliance Industries Ltd (RIL) on 22 July 2017.

    Deshpande was the head media entertainment (M&E) business as president of the chairman’s office at RIL. The company said Deshpande is not liable for retirement by rotation and accordingly suitable proposal for her continuation will be put up for the approval of the shareholders at the ensuing annual general meeting.

    On Thursday, the company had announced that Jyotindra Thacker, non-executive additional director of the company, has tendered his resignation with effect from 22 March due to his other pre-occupations.

    In her new role at RIL, Deshpande will lead the company’s initiatives in M&E to organically build and grow businesses around the content ecosystem such as broadcasting, films, sports, music, digital, gaming, animation as well as integrate RIL’s existing media investments such as Viacom18 and Balaji Telefilms with a view to build, scale and consolidate the fragmented $20 billion Indian M&E sector.

    Deshpande has over 25 years of experience in media and entertainment across advertising, media consulting, television and film. She has been part of the leadership team of Eros International Plc since 2001 and as Group CEO & MD has spearheaded Eros’ growth as a global leader in Indian filmed entertainment.

    Prior to joining Eros in 2001, Deshpande has worked for five years in the field of advertising, media consulting and television with companies such as J Walter Thompson India, Mindshare, Zee TV and B4U. She has a bachelor’s degree in commerce and economics from Mumbai University and a master’s degree in business administration from SPJIMR, Mumbai University.

    Shares of Balaji Telefilms were last trading at the Bombay Stock Exchange at Rs 129.05 as compared to the previous close of Rs 127.5. The total number of shares traded during the day was 38934 in over 304 trades.

  • RIL to buy 5% in Eros; cos to set up $150 mn content fund

    RIL to buy 5% in Eros; cos to set up $150 mn content fund

    MUMBAI: Continuing its media march, which is also an indication of further disruptions in the Indian and global entertainment industry, the USD 51 billion Reliance Industries Ltd (RIL) is all set to acquire 5 per cent equity stake in NYSE-listed Eros International Plc (Eros) and jointly set up a $150 million (Rs 1,000 crore) fund to co-produce and consolidate content from India.

    In the transaction, which is subject to regulatory and other approvals, RIL, through a subsidiary, is looking to pick up the minority stake at a price of $15 per share, representing an 18 per cent premium to the last closing price of the stock. Eros stock quoted at $13.30 on the NYSE at local US time of 16:01:15 on 20 February 2018, having opened at $13.25. RIL closed Tuesday at Rs 919.40 on the Bombay Stock Exchange.

    RIL and Eros International Media Ltd (Eros India) will equally invest in the fund to produce and acquire Indian films and digital originals across all languages, according to a joint statement put out late on Tuesday evening.

    RIL’s investment will also result in some management changes in both the companies. Eros’ group CEO and MD Jyoti Deshpande will be stepping down from her executive role after over 17 years and move on to head the media and entertainment (M&E) business at RIL as the president of the chairman’s office.

    Deshpande will start her role at RIL from April 2018 but will continue to remain as a non-executive director on the board of Eros, while Kishore Lulla will resume his position as group chairman and CEO of Eros, the statement added.

    In her new role at RIL, Deshpande will lead the company’s initiatives in M&E to organically build and grow businesses around the content ecosystem, such as broadcasting, films, sports, music, digital, gaming, animation as well as integrate Reliance’s existing media investments such as Viacom18 and Balaji Telefilms with a view to build, scale and consolidate the fragmented $20 billion Indian M&E sector.

    RIL chairman and MD Mukesh Ambani said, “We are pleased to join hands with Eros, as it will bring further synergies into our plans, making for a win-win partnership. We are delighted to welcome Ms Jyoti Deshpande into the Reliance family and believe that she will not only give wings to our plans but also play a pivotal role in transforming the sector.”

    Lulla elaborated, “I am very pleased that Eros is partnering with RIL in its entertainment journey with several synergies across technology, content and digital with Eros Now. We look forward to collaborating and growing as we continue to make new strides on the digital and content forefronts. I am confident that together, we can make a meaningful difference. Jyoti Deshpande has been an invaluable part of the incredible Eros growth journey and I am confident that she will make a positive impact on the industry in her new role at RIL.”

    Eros International Plc (NYSE: EROS) is a leading global company in the Indian film entertainment industry that acquires, co-produces and distributes Indian films across all available formats such as cinema, television and digital new media. Eros International Plc became the first Indian media company to list on the NYSE and also runs a fledgling OTT service under Eros Now brand. 

    “I am delighted that RIL has strategically aligned with Eros. My new assignment at RIL will allow me to push boundaries, set new standards of excellence, assemble a world-class young leadership team and adopt a collaborative approach to architect and execute this ambition…but more than anything, I cannot wait to roll up my sleeves,” said Deshpande while commenting on the proposed partnership.

    The Eros and earlier Balaji investments by RIL indicate that Ambani may be investing small in content and distribution companies, but taking big steps towards building an integrated media and entertainment behemoth, an industry observer opined, adding that with the financial muscle that the Ambanis have, the Indian media sector should brace itself for some more disruptions after the Reliance Jio show.

    In the TMT sector, RIL already has investments in media companies like Viacom18 (majority stake), TV18/Network18, telecom company Reliance Jio and a host of other media properties, including magazines and digital ventures.

    Also Read :

    TV18 to increase Viacom18 stake to 51%

    Reliance Industries buys Balaji Telefilms stake for Rs 4.13 bn

    Viacom18 celebrations: Mukesh Ambani sets the roadmap for next 10 years

    Reliance Jio, China’s Omnicom fuel massive global mobile data traffic

  • RIL’s Rs 2.35 lakh crore investments in Jio start to payoff

    RIL’s Rs 2.35 lakh crore investments in Jio start to payoff

    BENGALURU: Mukesh Dhirubhai Ambani-run Reliance Industries Ltd (RIL) has invested a massive amount of money into the largest start-up in the world–Reliance Jio Infocomm Ltd (Jio). The RIL financials for the quarter ended 31 December 2017 (Q3 2018, quarter under review) showed that its digital services segment (Jio) had assets of Rs 234,986 crore, the largest asset block among any of the six segments (petrochemicals, refining, oil and gas, organised retail, digital services, and others) that the behemoth reports numbers for. And RIL reported net profit after tax (PAT) of Rs 504 crore for Q3 2018 as against net loss of Rs 271 crore during 2Q 2018, the immediate trailing quarter.

    The digital services segment’s operating revenue for Q3 2108 was Rs 6,879 crore, up 11.9 percent from the Rs 6,147 crore in the immediate trailing quarter. The value of services increased by 12.7 percent q-o-q to Rs 8,114 crore from Rs 7,197 crore, EBITDA almost doubled (increased by 82.1 percent) in the quarter under review to Rs 2,628 crore from Rs 1,443 crore in Q2 2018. EBIT almost quintupled (453.1 percent) to Rs 1,436 crore from Rs 260 crore.

    Jio added 2.15 million net subscribers in Q3 2018 with an ARPU of Rs 154 per customer. The RIL earnings release for its digital services says that average data traffic per customer for the quarter was 9.6 GB per month and total wireless data traffic has crossed 431 crore GB. Video consumption on the Jio network has crossed 200 crore hours per month, averaging 13.4 hours per subscriber per month.

    Commenting on the results, RIL chairman and managing director Ambani said, “I would like to thank all our customers for partnering with us in this revolution which has made India a global digital powerhouse. I congratulate all our employees and partners for the strong performance. Our commitment is to keep pushing newer innovative products which would radically transform customer lives and generate huge societal value.”

    “Jio’s strong financial result reflects the fundamental strength of the business, significant efficiencies and right strategic initiatives. Jio has demonstrated that it can sustain its strong financial performance,” he concluded.

    Organised retail business

    Revenues for Q3 2018 grew by 116.4 percent y-o-y to Rs 18,798 crore from Rs 8,688 crore. PBDIT for Q3 2018 increased by 82.0 percent y-o-y to Rs 606 crore from Rs 333 crore. Reliance Retail witnessed stellar performance across all consumption baskets during the period. During the quarter, Reliance Retail added 72 stores across various store concepts and increased the area operated to 14.5 million square feet from 13.2 million square feet in Q3 2017.

    RIL numbers

    RIL’s consolidated revenue increased by 30.5 percent to Rs 109,905 crore in Q3 2018 from Rs 84,194 crore in Q3 2017. Net profit increased by 25.1 percent to Rs 9,423 crore in the quarter under review as compared with Rs 7,533 crore in Q3 2017.

    Also Read :

    After telecom, Jio to bite into broadband and TV

    Comment: Reliance Industries’ telecom-media play fascinating, but complex & challenging too

    RIL to plan IPO for Reliance Jio: Bloomberg

  • Jio reports operating profits in maiden quarterly financials

    Jio reports operating profits in maiden quarterly financials

    BENGALURU: Reliance Jio Infocomm Limited (Jio), a wholly owned subsidiary of Reliance Industries Limited (RIL), reported positive EBIT for the quarter ended 30 September 2017 (Q2-17, current quarter) of Rs 2,595.7 million. This was the company’s maiden financial quarterly result. The company’s EBIDTA for the quarter was Rs 14,434.5 million on revenue from operations of Rs 61,470.6 million. Consolidated revenue from operations including service tax/GST was Rs 71,970.8 million. Other income was Rs 16.7 million.

    Jio’s subscriber in the current quarter increased to 138.6 million, up 15.3 million from the previous quarter. The company says that ARPU for Q2-17 was Rs 156.4 per month. Jio claims total wireless data traffic for the quarter at 3,780 million gigabytes and average voice traffic during the quarter was 2,670 million minutes per day.

    Commenting on the results, RIL chairman and managing director Mukesh D. Ambani, “The world is transforming, turning digital and India is not going to be left behind. India is ready to go digital, move from voice to data and Jio is creating the foundation of data for the next generation business. The rapid uptake of Jio services reflects the latent need of the society. We are confident that Jio will bring significant benefits to the Indian economy and the Indian customers and will take India to a much higher pedestal. We are focussed on providing multi-layered digital services on top of the basic connectivity service to optimally utilise our world class infrastructure. The strong financial results of Jio demonstrates the robust business model of Jio and the significant efficiencies that the company has built through its investment in the latest 4G technology and right business strategy. As always, the group has demonstrated excellence in execution, vision and commercial acumen.”

    Let us look at the other numbers shared by the company

    Total Expenditure for the current quarter was Rs 65,625.4 million. Networking operating expenses for the quarter were Rs 13,718.9 million. Net access charges expenses was Rs 21,398.8 million. The company paid Rs 3,990 million towards license fees/spectrum charges. Employee benefits expense was Rs 3,031 million. Finance costs were Rs 6,733.8 million. Selling and distribution expenses were Rs 2,608.4 million. Other expenses were Rs 2,305.7 million.