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RIL’s telecom arm Reliance Jio Infocomm has trimmed its net loss to Rs 11.40 crore during six months ended March 2016. In the corresponding six months to March 2015, the company’s net loss was at Rs 15.44 crore. Total income from operations during the October-March period of 2015-16 stood Rs 2,00,000 (Rs 0.02 crore) which remained unchanged from the year ago period, the company said in a regulatory filing to the BSE.
For the full year ended March 2016, Reliance Jio ‘s net loss stood almost flat at Rs 23.88 crore as against Rs 23.12 crore a year earlier. The corresponding income for full fiscals– 2015-16 and 2014-15– were constant at Rs 4,00,000 (Rs 0.04 crore). Reliance Industries, which promotes Reliance Jio, has invested over Rs 1 lakh crore to rollout 4G mobile services in the country. The company has made an advance payment of Rs 2,860 crore to Reliance Communications Ltd (RCom) towards change in allotment of agreed spectrum in the 850 Mhz band in nine service areas which in included in capital advances, it said.
“The completion of the transaction is subject to obtaining final approval from the DoT which is pending March 31, 2016″, it added.
RCom will trade CDMA grade spectrum in 800 MHz band in nine service areas where Jio doesn’t have radiowaves. In 17 circles, the two companies has signed spectrum sharing agreement. RCom has already paid Rs 5,383.84 crore to liberalize its spectrum in 16 circles which include Delhi, Mumbai, Punjab, Himachal Pradesh, UP East and West, Gujarat, Madhya Pradesh, Kolkata and Bihar.
A liberalized spectrum allows telecom operators to use any technology to deliver mobile services like 3G and 4G . Besides, they will be able to introduce new technologies and share and trade it with other operators for its efficient use. During the year, the company has issued and allotted 1,500 crore equity shares of Rs 10 each, at par to Reliance Industries Ltd, its holding company, it added further.
Reliance Jio Infocomm reports net loss of Rs 11.40 crore in Q1, 2016 | Latest Tech News, Video & Photo Reviews at BGR India
For the full year ended March 2016, Reliance Jio ‘s net loss stood almost flat at Rs 23.88 crore as against Rs 23.12 crore a year earlier. The corresponding income for full fiscals– 2015-16 and 2014-15– were constant at Rs 4,00,000 (Rs 0.04 crore). Reliance Industries, which promotes Reliance Jio, has invested over Rs 1 lakh crore to rollout 4G mobile services in the country. The company has made an advance payment of Rs 2,860 crore to Reliance Communications Ltd (RCom) towards change in allotment of agreed spectrum in the 850 Mhz band in nine service areas which in included in capital advances, it said.
“The completion of the transaction is subject to obtaining final approval from the DoT which is pending March 31, 2016″, it added.
RCom will trade CDMA grade spectrum in 800 MHz band in nine service areas where Jio doesn’t have radiowaves. In 17 circles, the two companies has signed spectrum sharing agreement. RCom has already paid Rs 5,383.84 crore to liberalize its spectrum in 16 circles which include Delhi, Mumbai, Punjab, Himachal Pradesh, UP East and West, Gujarat, Madhya Pradesh, Kolkata and Bihar.
A liberalized spectrum allows telecom operators to use any technology to deliver mobile services like 3G and 4G . Besides, they will be able to introduce new technologies and share and trade it with other operators for its efficient use. During the year, the company has issued and allotted 1,500 crore equity shares of Rs 10 each, at par to Reliance Industries Ltd, its holding company, it added further.
Reliance Jio Infocomm reports net loss of Rs 11.40 crore in Q1, 2016 | Latest Tech News, Video & Photo Reviews at BGR India
