You will be shocked to know how much Mukesh Ambani earned from Jio
You will be shocked to know how much Mukesh Ambani earned from Jio
Even though, Mukesh Ambani's Reliance Jio is the newest company to enter the mobile-phone market still the company has managed to get more than 138.6 million subscribers in the world's most crowded market. Reliance has created a hype in the market by cutting the prices of its product.
Mukesh Ambani, who is one of the richest people in the world, has hacked the mobile-phone market by providing free data and voice call services last year. Ambani said that the company had gain profit before they began charging for interest and taxes.
This Friday, Mr Ambani said in a statement that Reliance Jio Infocomm Ltd. had a Rs. 260 crore ($40 million) profit before interest and taxes. While talking about the earning for the first time India' billionaire said the company reported a loss of Rs. 271 crore on revenue of Rs. 6,150 crore.
The shares of oil refiner Reliance Industries Ltd has risen 0.4 percent to Rs 876.45. The company is controlled by Reliance Jio Infocomm Ltd. Even though Mukesh Ambani's Reliance Jio has already managed to rank at the spot of fourth when it comes to mobile subscribers, the company is still planning to gain market share by offering a $23 mobile. The mobile phone of Jio offers 4G data plans for just Rs. 153 monthly.