Reliance Jio's net profit jumped to Rs 2,844 crore for the second quarter ended September 30, 2020, from Rs 990 crore in the year-ago period.
Recently, Jio Platforms and Qualcomm announced they have successfully tested 5G solutions, and clocked ultra-high speeds of 1 Gbps, in trials.
The latest progress on the 5G product portfolio neatly dovetails into Jio's overall plans to develop homegrown 5G telecom solutions.
With IPL 2020 starting Saturday, the war between fantasy cricket operators is hotting up and could turn dirty in future
Mukesh Ambani said Reliance Jio's 5G solution will be ready for trials as soon as 5G spectrum is available .
Reliance India chairman Mukesh Ambani said Google will invest over Rs 33,737 crore for a 7.7 per cent stake in Jio Platforms.
The investment from Mubadala comes in Jio Platforms at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore.
The deal follows Facebook picking up a 9.99 per cent stake in the firm, housing India's youngest but largest telecom company, on April 22 for Rs 43,574 crore.
Silver Lake - one of the world's largest tech investors - has agreed to invest Rs 5,655.75 crore to Jio Platforms
The deal is a win-win situation for both Facebook and Reliance and a big win for fulfilling PM Narendra Modi’s vision of digital payment adoption, writes Vinod Dham.
Reliance in a statement said the investment by Facebook values Jio Platforms at Rs 4.62 lakh crore pre-money enterprise value (USD 65.95 billion, assuming a conversion rate of Rs 70 to a US dollar).
With its data revolution,Reliance managed a strong Internet data user base in India, fulfilling Google's dream of adding next billion users to Internet.
Jio said it will continue to work with the government on the consultation process for revision of telecom tariffs
Jio had stormed the telecom sector with free voice calls and dirt-cheap data
Mobile data charges in India are by far the cheapest in the world even as the demand for mobile data services continue to grow rapidly, the company said.
In last three years, Jio said it has paid other operators like Airtel and Vodafone-Idea nearly Rs 13,500 crore as net IUC charges and hence has now decided to charge customers to recover the IUC losses.
The investment cycle of Reliance Jio is complete, and about Rs 3.5 lakh crore has been invested in the high-speed 4G network, Reliance Industries' Chairman and Managing Director Mukesh Ambani said.
Anil Ambani-led Reliance Communications has decided to opt for insolvency proceedings following its failure to sell assets for paying back its lenders.
A farmer sits near his red chillies at a deserted APMC market, during the weekend curfew imposed by the Karnataka government to curb the spread of COVID-19, in Hubballi.PTI Photo
Delhi Chief Minister & AAP National Convenor Arvind Kejriwal being welcomed by women supporters during his door-to-door campaign ahead of the Goa Assembly elections, in Goa.PTI Photo
A health worker collects swab sample of a woman for COVID-19 test, amid concerns over rising Omicron cases, in Gurugram.PTI Photo
Traffic jam on a road at Shalimar Bagh during the weekend curfew imposed by the Delhi government to curb the spread of Covid-19, in New Delhi.PTI Photo/ Shahbaz Khan
The Lajpat Nagar market wears a deserted look during the weekend curfew imposed by the Delhi government to curb the spread of Covid-19, in New Delhi.PTI Photo/ Shahbaz Khan
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