Another stellar quarter for RIL: 10 key takeaways from Q3 earnings

NEW DELHI: Reliance Industries today came out with a set of better-than-expected earnings numbers for the quarter ended December 2017. Net profit of the company jumped 25 per cent year-on-year whereas its telecom arm Reliance Jio turned profitable during the quarter gone by. The stock settled 1.09 per cent up at Rs 929.35 on Friday. The company announced the results after market hours. Below are 10 quick takeaways from RIL s Q3 numbers: Net profit: Bottom line surged 25.10 per cent year-on-year to Rs 9 423 crore in Q3 FY18 over Rs 7 533 crore in Q3 FY17. Revenue: Top line climbed 30.50 per cent year-on-year to Rs 1 09 905 crore during the quarter under review. It had posted revenue of Rs 84 189 crore in the same quarter last year. GRM: Gross Refining Margins (GRM) for Q3 FY18 stood at 11.6/bbl as http://kkgrofers9.strikingly.com/  against 10.8/bbl in Q3 FY17. The company s GRM outperformed Singapore complex refining margins by 4.4/bbl. Petchem revenue: For the quarter ended December 31 2017 revenue from the petrochemical segment increased 47.6 per cent YoY to Rs 33 726 crore ( 5.3 billion) due to higher volumes and prices. Petrochemical EBIT was at a record level of Rs 5 753 crore ( 901 million) supported by strong volume growth higher margins for polypropylene and downstream polyester products. The volume growth was led by the world s largest ROGC coming on-stream along with downstream LDPE LLDPE and MEG plants. Oil & gas segment : Q3 FY18 revenue for the oil and gas segment went up 34.2 per cent YoY to Rs 1 631 crore due to commencement of CBM production and higher oil and gas price realisation. Jio turned profitable: Telecom arm Reliance Jio reported a net profit of Rs 504 crore for the quarter to December against a net loss of Rs 271 crore in the September quarter. EBITDA and operating revenue of Jio climbed 82.10 per cent and 11.90 per cent on a quarter on quarter basis to Rs 2 628 crore and Rs 6 879 crore respectively. Average revenue per user (Arpu) came in at Rs 154 per subscriber per month. Mukesh D Ambani Chairman and Managing Director Reliance Industries in a release said: 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. Outstanding debt: RIL s outstanding debt stood at Rs 2 13 206 crore as of December-end compared to Rs 196 601 crore at March-end. Cash and cash equivalents: Cash and cash equivalents stood at Rs 78 617 crore as of December-end compared with Rs 77 226 crore at end of March. These were in bank deposits mutual funds CDs government bonds and other marketable securities. EPS: Basic earnings per share (EPS) for the quarter through December stood at Rs 16 as against Rs 12.8 in the corresponding period of the previous year. Credit rating: RIL retained its domestic credit ratings of CRISIL AAA from CRISIL and Ind AAA from India Rating and an investment grade rating for its international debt from Moody s as Baa2 and BBB from S&P. Global financial service firm UBS initiated a coverage on oil-to-telecom behemoth Reliance Industries (RIL) with Sell rating and set a target price at Rs 870 indicating a fall of 8 per cent against the previous close of Rs 947.60. The scrip was trading 1.02 per cent down at Rs 937.95 at around 10 am (IST) on Tuesday. It opened at Rs 949 and touched a high and low of Rs 949 and Rs 939 respectively in trade so far. Benchmark BSE Sensex was up 63 points or 0.18 per cent at 34 906 at around the same time. Reliance Industries has spent a hefty 60 billion over projects expanding from petrochemicals to telecom business and from investments in gasification to pet coke. But UBS believes that the investments are unlikely to begin generating cash anytime soon. This is the sixth Sell rating for RIL compared with 29 Buy ratings. On the BSE 68 000 lakh shares were traded in the counter so far compared with average daily volumes of 5.44 lakh in the past two weeks. The stock had hit a 52-week high of Rs 959 on November 24 2017 and 52-week low of Rs 507.3 on January 23 last year. KOLKATA: Reliance Industries Ltd (RIL) will invest as much as Rs 5 000 crore in West Bengal to bolster telecom arm Reliance Jio Infocomm s operations its digital ecosystem as well as the group s retail and fuel retail businesses chairman Mukesh Ambani said. The group will also be working with multiple partners to explore the setting up of state-of-the-art next-gen electronics manufacturing facilities to make West Bengal an innovation hub for consumer devices such as mobile phones and set-top boxes he said at the fourth Bengal Global Business Summit in Kolkata on Tuesday. India s richest man said West Bengal was a leader in ease of business attributing this to industrial peace under the government of chief minister Mamata Banerjee. Under Mamata didi s leadership West Bengal is now Best Bengal and Reliance Industries shares Bengal s dream of rapid and inclusive development Ambani said. Reliance Industries will also set up digital service centres (DSCs) in West Bengal to provide government-to-citizen (G2C) services initially in five districts. The move is part of the company s plans to set up DSCs across India to bring such services within easy reach of every citizen especially in the rural hinterland. The move will give birth to digital entrepreneurs in villages and small towns kickstart ecommerce support agriculture as well as small and medium enterprises (SMEs) said Ambani signalling Jio s plans for a countrywide digital revolution. Reliance Industries is already one of the largest investors in West Bengal having pumped in Rs 15 000 crore most of this for setting up the telecom network Ambani said. Jio s initiatives had created employment opportunities -- both direct and indirect - for more than 100 000 people in the state he said. In the immediate term Ambani said the country s newest 4G carrier will expedite steps to ensure 100% network coverage in West Bengal by end-2018. Jio s network now covers 1 000 towns and 39 000 villages or about 98% of the state s population. Ambani said the JioPhone which has received a rousing welcome in West Bengal would also help bridge the digital divide in the state as it would make everyone embrace the digital ecosystem. The device is a 4G VoLTE-enabled feature phone with an effective price of zero it entails a refundable Rs 1 500 deposit. Only 30% of mobile devices comprise 4G phones in the country and Jio expects to significantly boost their numbers with the JioPhone. Jio will shortly embark on connecting West Bengal with optic fibre and convert every home in the state into a smart home. Educational institutions and hospitals will be linked with optic fibre within the next two years he said. Going forward he said Reliance will also work closely with the West Bengal government to nurture top soccer talent in the state. Reliance would like to work with the state at the grassroots level to see Bengal produce the next Messi and the next Ronaldo said Ambani. Kolkata: RIL Chairman Mukesh Ambani today announced Rs 5 000 crore investment in expanding telecom and petro-retail businesses in West Bengal and said his company is exploring the possibility of setting up a manufacturing facility for mobile phones and set-top boxes.Speaking at the Bengal Global Business Summit India s richest man paid lavish compliments to Chief Minister Mamata Banerjee saying that under her leadership West Bengal is becoming Best Bengal! Mr Ambani said his company Reliance Industries Ltd (RIL) had committed an investment of Rs 4 500 crore in the state but has ended up investing Rs 15 000 crore. Didi we could make this large investment only because you have created a friendly climate and an enabling policy infrastructure he said adding that RIL has emerged as one of the largest investors in Bengal.Most of the investment has been made in creating fourth- generation high-speed mobile and internet network for Reliance Jio the telecom arm of RIL. We are committing to invest another Rs 5 000 crore in Jio and the entire digital eco-system retail and retro-retail in the next few years he said.Also Reliance will work with multiple partners to explore setting up next generation state-of-the-art electronics manufacturing facilities and make West Bengal the hub for innovation and hi-tech technologies for consumer devices such as mobile phones set-top boxes and other devices he said.Starting in 2015 through a public Wi-Fi Experience Zone in Park Street Jio has enmassed over 1.2 crore customers in the state Mr Ambani said.He said the digital economy will bring prosperity at more than double the speed of the traditional economy.While Jio will reach 100 per cent of state population before the end of 2018 it is embarking on an ambitious project of connecting Bengal with Optic Fibre he said.Also Reliance is setting up Digital Service Centres across India to bring Government to Citizen (G2C) services within easy reach of every citizen particularly in the rural hinterland.It will give birth to digital entrepreneurs in villages and small towns kick-start e-commerce and support agriculture as well as small and medium enterprises.Mr Ambani said Bengal has said goodbye to the slow growth rate of the past and today is the fourth largest state economy in India growing at 15.64 per cent much higher than the national average. CommentsClose X Investments in infrastructure have been unprecedented. A global think-tank ranked Kolkata second among the Indian metros on overall economic performance even ahead of Mumbai he said. Today the state is famous for the ease of doing business! A miracle has happened. Stating that Bengal today means business he said the state has adopted a positive mind-set that can make the impossible possible. .story-content span .story-content p .story-content div color: #000 !important; font-family: open sans Arial !important; font-size: 15px !important; ALSO READ RIL Q2 earnings: Will Jio hit Reliance show? Here is what analysts say RIL Q2 consolidated net rises 12.5% to Rs 8 109 cr; Jio s loss at Rs 271 cr RIL Q2 net up 13% to Rs 8 097 crore; Jio surprises with operating profit RIL s Q1 net profit up 28% at Rs 9 108 cr on better refining petchem biz span.p-content div id =div-gpt line-height: 0px; font-size: 0px; Oil-to-telecom conglomerate Reliance Industries (RIL) is expected to report a sequential decline in gross refining margins (GRM) while still maintaining it in double digit. The market is watching out for the telecom division s performance which surprised the street with an operating profit in the previous quarter. In a Bloomberg poll nine analysts estimated the company s consolidated profit at Rs 84.96 billion against Rs 81.09 billion and seven analysts estimated revenue of Rs1.02 trillion against revenue of Rs 914.81 billion reported in the same quarter a year back. At a standalone level nine analysts expect revenue at Rs 851.11 billion and 10 analysts expects net income at Rs 85.46 billion. We expect 12 per cent year-on-year earnings growth in the third quarter driven by robust refining and chemical margins. Higher polyester margins and volume growth to negate the impact of marginally lower product cracks analysts with Morgan Stanley wrote in a January 15 report. The company s telecom venture reported its financial performance for the first time in the September quarter. For that quarter RIL said EBITDA for its digital services segment was at Rs 14.43 billion and net loss of Rs 2.71 billion. Analysts will watch out for more details on the performance of this segment. We expect FY18 Jio revenues of Rs 158 billion implying the second half of FY18 revenues of Rs 96 billion. We note pricing competition continues with the latest round of price cuts from Jio analysts with Goldman Sachs wrote in a January 15 note. The Goldman Sachs analysts also noted Jio s revenue market share future capital expenditure program in light of the recent acquisition announcement of Reliance Communications assets would be the key points to look for in the management discussion post results announcement. The company is expected to continue with its double-digit trend for its gross refining margins (GRMs). Analysts expect GRM for the company to be in the range of 11.1 to 11.8 a barrel lower from 12 per barrel reported in the September quarter. The decline in GRM would get offset by strong performance of the petrochemicals segment which we expect to benefit from higher volumes (on account of ramp up of the recently commissioned petchem expansion projects) and feedstock benefit from US ethane imports analysts said in Sharekhan report dated January 8. Few others like Goldman Sachs expect GRMs to remain flat. We expect RIL GRM to remain flat versus last quarter at US 12.1/bbl implying a premium of US 2.4/bbl versus Singapore Complex GRMs the analysts with Goldman Sachs noted. Chandan Taparia of Motilal Oswal Securities has a buy call on Reliance Industries with a target price of Rs 1 000. The current market price of Reliance Industries is Rs 946.75. Time period given by the analyst is Intra Day when Reliance Industries price can reach defined target. Chandan Taparia recommended to keep a stop loss at Rs 930. Reliance Industries incorporated in the year 1973 is a Large Cap company (having a market cap of Rs 59.9624.45 Crore) operating in Miscellaneous sector. The company s top management includes Dr.Raghunath A Mashelkar Dr.Shumeet Banerji Mr.Adil Zainulbhai Mr.Hital R Meswani Mr.Mansingh L Bhakta Mr.Mukesh D Ambani Mr.Nikhil R Meswani Mr.P M S Prasad Mr.Pawan Kumar Kapil Mr.Raminder S Gujral Mr.Yogendra P Trivedi Mrs.Nita M Ambani Prof.Ashok Misra Prof.Dipak C Jain. Company has Rajendra & Co. as its auditors. As on 30-09-2017 the company has a total of 6 332 551 296 shares outstanding. NEW DELHI: The New Delhi Municipal Council (NDMC) which is embroiled in a legal battle with the operator of the Le Meridien hotel in the city over non-payment of dues has issued a fresh eviction notice to the occupants of the property s commercial tower including companies like Reliance Industries BAE System India and SAAB International. They are asked to vacate the premises in seven working days stating that their sub-licensing arrangement with CJ International the hotel operator was illegal and had no sanction from the municipal body. If the occupants don t vacate the premises within seven days they will be dealt with in accordance with the law a notice signed by an NDMC official read. The tower has been sub-licensed to various parties without the approval of NDMC and Reliance Industries has even said that it had purchased its space in a full and final sale the notice stated. Such kind of sale/purchase of public property is not allowed under the licence deed it said. In this scenario it emerges that none of the submissions of the occupants with regard to their claim that they are bona fide sub-licensees is legally tenable the notice added. http://www.rautemusik.fm/user/kkgoib/#infos  The commercial tower has 98 occupants. A part of the mezzanine floor of the commercial tower was meant for shops while parts of first to fourth floor were for offices and the fifth floor was for residential apartments or suites. NDMC alleges that all the sub-licensees were using it for the purpose of office space and that the sub-licensees of CJ International had further transferred the premises to second and third parties. CLSA has retained buy rating on Reliance Industries with a target price of Rs 1 080. The Hong Kong-headquartered brokerage said this year will see a big cash-flow boost as projects of over 40 billion start to deliver in full swing while capital expenditure falls. Stabilisation of ROGC and petcoke gasification would boost Ebitda said CLSA. CLSA said Jio s monetisation plan entails raising smartphone Arpus and expanding 4G feature phone subs along with the launch of its broadband and enterprise offering. We will also start to see cross-selling and other ways to monetise Reliance s wide customer base which will be the key long-term value driver said CLSA. NEW DELHI: Oil-to-telecom behemoth Reliance Industries on Friday posted 25 per cent growth in consolidated net profit at Rs 9 423 crore for the quarter ended December 31 2017. The company had posted a net profit of Rs 7 533 crore for the same quarter last year. Revenue from operations during the quarter jumped 21.74 per cent year-on-year to Rs 1 02 500 crore compared with Rs 84 189 crore reported for the same period last year. Gross refining margins (GRM) for Q3 of FY18 stood at 11.6 a barrel against 10.8 in Q3 of FY17. RIL s GRM outperformed the refining margins of the Singapore complex by 4.4 a barrel. Telecom arm Reliance Jio turned profitable in Q3. Jio reported a net profit of Rs 504 crore in Q3 of FY18 against a net loss of Rs 271 crore in the sequential quarter ended September 30 2017. Commenting on the results Chairman and Managing Director Mukesh D Ambani said: I am happy to share record-setting consolidated quarterly earnings to mark the 40th anniversary of Reliance s listing in January 1978. Fittingly this quarter marks the culmination of our petrochemical expansion projects and the first positive net profit contribution from our newest business line - digital services. The company s refining business delivered double-digit refining margins for the 12th consecutive quarter demonstrating operating excellence and healthy industry fundamentals. Benefits of large investments in the petrochemical business are beginning to show with the segment reporting highest-ever earnings the company said. December quarter revenue from the petrochemicals segment increased 47.6 per cent YoY to Rs 33 726 crore ( 5.3 billion) on higher volumes and prices. EBIT for the petrochemicals segment came in at a record Rs 5 753 crore ( 901 million) supported by strong volume growth higher margins for polypropylene and downstream polyester products. The volume growth was led by the world s largest ROGC coming on-stream along with downstream LDPE LLDPE and MEG plants. Revenue for the oil & gas segment increased by 34.2 per cent year on yea to Rs 1 631 crore on commencement of CBM production and higher oil and gas price realisation Outstanding debt as on December 31 2017 stood at Rs 2 13 206 crore ( 33.4 billion) compared with Rs 1 96 601 crore as of March 31 2017. The telecom price war is far from ending. Telecom operators like Reliance Jio and Bharti Airtel are coming up with new prepaid recharge plans in order to maintain their subscribers base. Apart from offering heavy data plans both the telecom biggies are also offering prepaid recharge plans under Rs 100 for users looking for plans offering less data. Jio is offering three sachet packs priced at Rs 19 Rs 52 and Rs 98. While Airtel has prepaid recharge plans priced at Rs 59 and Rs 93. Jio s prepaid plans under Rs 100:Jio s prepaid priced at Rs 19Reliance Jio s Rs. 19 sachet pack offers 0.15GB of high speed 4G data after which the internet speed gets reduced to 64 Kbps said Jio. This pack of Jio comes with free and unlimited local STD and roaming voice calls. Jio s sachet pack of Rs 19 also offers 20 free SMSes. The validity of this pack is 1 day. Jio s prepaid priced at Rs 52Reliance Jio s Rs 52 sachet pack offers 1.05GB of high speed 4G data for the validity period with a daily cap of 0.15GB data after which the internet speed gets reduced to 64 Kbps. This pack of Jio comes with free and unlimited local STD and roaming voice calls. 70 free SMSes (short message service) are bundled along with this sachet pack. The validity of this pack is 7 days. Jio s prepaid priced at Rs 98Reliance Jio s Rs 98 sachet pack offers 2.1GB of high speed 4G data for the validity period with a daily cap of 0.15GB data after which the internet speed gets reduced to 64 Kbps. This pack of Jio comes with free and unlimited local STD and roaming voice calls. 140 free SMSes (short message service) are bundled along with this sachet pack. The validity of this pack is 14 days. Airtel s prepaid plans under Rs 100: Airtel s prepaid plan priced at Rs 59 CommentsClose X Airtel s entry-level prepaid recharge plan priced at Rs 59 offers 500 MB of 3G/4G for a period of 7 days. There is no daily limit on data in this prepaid plan introduced by Airtel. Airtel s Rs 59 prepaid recharge plan also offers free and unlimited local STD and roaming calls. This prepaid plan doesn t come with any bundled SMSes and is available only on select circles. Subscribers willing to recharge with this plan can check the availability of the plan via My Airtel app.Airtel s prepaid plan priced at Rs 93 Airtel s Rs 93 prepaid recharge plan comes with no daily data cap and has an upper limit of 1GB data for 10 days. It also gives users unlimited local STD and roaming calls and 100 SMSes per day. The validity of the plan is 10 days. .story-content span .story-content p .story-content div color: #000 !important; font-family: open sans Arial !important; font-size: 15px !important; ALSO READ While Jio Airtel fight Idea takes lead with highest 4G upload speed Mega deal between Ambanis to help Reliance Jio take on Bharti Airtel Bharti Airtel Q1 net tanks 75% on Jio impact African worries Reliance Jio effect: Bharti Airtel s net profit down 76% to Rs 343 crore Reliance Jio adds 5.9 million users in September span.p-content div id =div-gpt line-height: 0px; font-size: 0px; The challenger has outdone India s largest telecom services provider if the December-quarter numbers are anything to go by. Incumbent Bharti Airtel turned in a consolidated net profit of Rs 3.05 billion across its telecom businesses in India and Africa while Reliance Jio which started its services in September 2016 made a profit of Rs 5.04 billion. While Airtel s India wireless operational performance was one of its worst in recent times Jio surprised the Street by reporting a higher expected operating and net profit. Jio was aided by strong subscriber addition and average revenue per user (ARPU) which held steady at Rs 154 compared to the September quarter. Airtel s ARPU on the other hand fell 15 per cent. Further while the sharp 57 per cent cut in interconnect usage charges (IUC) and customer downtrading to lower value packs significantly dented Airtel s operating profit and margins Jio gained from the IUC cut. Thus while Airtel s margins were down nearly 180 basis points to 32.6 per cent Jio s margins were up nearly 15 percentage points to 38.2 per cent. Even on the subscriber additions front while Jio s subscriber base increased 22 per cent to 160 million the same for Airtel was 290 million up about 3 per cent. The strong operating performance helped Jio post a net profit of Rs 5.04 billion against analysts expectations which were pegged at a tenth of this. Airtel does not report net profit for the India wireless business. Its Ebit figure was Rs 1.66 billion down 93 per cent over the year-ago quarter. Reliance Industries CFO Alok Agarwal said the telecom service had become profitable three years before industry estimates. Given the sharp drop in IUC Jio posted an operating profit of Rs 26.28 billion up 82 per cent over the September quarter. This came despite network operating expenses going up 26 per cent and licence/spectrum charges rising 55 per cent. Jio saw gross subscriber addition of 27.8 million and net subscriber addition of 21.5 million during the quarter. The earlier-than-expected break-even at net profit level for Reliance Jio is a positive surprise for the Street. We maintain our Buy rating on RIL said Abhijeet Bora research analyst Sharekhan. NEW DELHI: Reliance Jio the 4G entrant on Friday revealed that it has started offering enterprise solutions along with fiber-to-the-home on a trial basis in a few locations. The telco said these services are being offered using the same integrated network and platforms.As part of the unified communications services Jio will provide Multiprotocol Label Switching networks Internet Protocol-Virtual Private Networks cloud services and managed video-conferencing among others. The company is expected to soon roll out its services commercially.Currently existing players including Airtel Tata Communications BSNL and Vodafone have their own range of enterprise services including cloud and hosting services IP-VPN MPLS etc. Now Reliance Jio is set to foray into this segment and might concentrate the market for the existing players. CommentsClose X Reliance Jio has introduced two new sachet packs priced at Rs 24 and Rs 54 with unlimited data and free call benefits for Jio Phone users. Jio Phone s new sachet pack priced at Rs 24 offers 500 MB of high speed 4G data per day for a validity of 2 days. While Jio Phone s sachet pack priced at Rs 54 offers 500 MB of high speed 4G data per day for a validity of 7 days. The two new sachet plans also offer unlimited calling benefits and complimentary access to Jio apps.Jio Phone s sachet packs are small value recharge packs that offer short validity period. Subscribers must note that these new sachet packs offered by Jio will only work if SIM is inserted in a Jio Phone. Jio Phone s sachet pack priced at Rs 24 Jio Phone s sachet pack priced at Rs 24 offers 500 MB of high speed 4G data per day for 2 days. After the exhaustion of data limit the internet speed gets reduced to 128Kbps. This sachet pack also gives 20 SMSes benefits and comes bundled with free voice calls. Jio Phone users also get complimentary subscription to select Jio apps. The validity of this sachet pack is 2 days. Jio Phone s sachet pack priced at Rs 54 Jio Phone s sachet pack priced at Rs 24 offers 500 MB of high speed 4G data per day for a period of 7 days. After the exhaustion of data limit the internet speed gets reduced to 128 Kbps Jio said on it s website. This sachet pack of Jio also gives 70 SMSes benefits and comes bundled with free voice calls. Jio Phone users also get complimentary subscription to select Jio apps. The validity of this sachet pack is 7 days. Mukesh Ambani s Reliance Jio has again announced a cashback offer under which it claims to offer up to 100 per cent cashback. As per the information available on Jio s website the offer is available on recharges worth Rs 398 and above. The offer can be available from today under which Jio offering cashback worth Rs 400 on recharges above Rs 398. However do note that you will get the Rs 400 cashback - in terms of eight vouchers worth Rs 50 each - if you recharge your account directly. If you recharge your mobile number through wallets like Amazon Pay MobiKwik Paytm etc you will get cashback worth up to Rs 300. (See table below) Source: https://www.jio.com This is not the first time that Jio is offering cashback. Last month it was offering cashback of Rs 3 300 on recharges of Rs 399 and above. Similar offers were there earlier too. The latest offer is valid on recharges done between January 16 to 31. NEW DELHI: Reliance Jio Infocomm may have garnered over 160 million users since it started its disruptive voice and data services in September 2016 but it isn t the preferred destination of subscribers changing operators brokerage Kotak Institutional Equities said in a report. The Mukesh Ambani-led 4G operator had a net 3.8 million subscribers who opted out of other networks at the end of October a tiny proportion of the company s overall users according to analysis by Kotak. The trend shows that a Jio connection is not the primary number for a good proportion of its subscribers and a large number of its customers continue to also use the services of rival operators Kotak said. Bharti Airtel Vodafone India Idea Cellular and Jio were the only net gainers from mobile number portability a facility that allows subscribers to switch their service providers without losing their mobile phone numbers from the time it started in January 2011 until October 2017 according to data by Telecom Regulatory Authority of India. The analysis showed that Jio s net port-in pace increased to about 0.7 million per month between June 2017 and October 2017 from about 0.1 million per month between September 2016 and June 2017. It is important to note that until end-March 2017 Jio s services were free and the customers did not really have to make a which operator gets my spend choice. Once Jio started charging in April 2017 the customer has had to make a choice between similarly priced bundles of Jio and the incumbents Kotak said. According to the Trai data Idea topped with 25 million net gains followed by Vodafone and Airtel with 19.4 million and 18.4 million respectively. Other operators lost a net 66.6 million subscribers including 21.5 million users from Reliance Communications 15 million from Tata Teleservices 13.1 million from Aircel and 6.6 million from Telenor. Although the pace of gross portouts has increased for Bharti Airtel Vodafone and Idea Cellular in recent months net port-ins remain in the positive zone. While Bharti Airtel lags Idea and Vodafone on cumulative net MNP gains it has led since Jio s launch with 9.1 million net gains since September 2016 compared with 6 million for Vodafone and 5.4 million for Idea Kotak said. The data showed that Bharti s outperformance versus Idea and Vodafone gained pace between end-June 2017 and end-October 2017 when Bharti gained a net 5million subscribers versus about 2 million each for Idea and Vodafone. Reliance Jio recently announced new prepaid recharge plans and revised most of its existing prepaid recharge plans. Now Jio is offering 2GBs of 4G high-speed data for a period of 28 days in its prepaid recharge plan priced at Rs 299. While Airtel has a prepaid recharge plan priced at Rs 349 that offers 2GB of 3G/4G data per day for 28 days. Vodafone s Rs 348 prepaid recharge plan gives 2GB of 4G/3G/2G data per day for 28 days. Idea s Rs 357 prepaid recharge plan offers 2GB daily data for 28 days. Here s a list of prepaid recharge plans of Jio Airtel Vodafone and Idea Cellular offering 2GB per day data: Jio s prepaid recharge plan priced at Rs 299 Jio s Rs. 299 prepaid recharge plan offers unlimited and free high speed 4G data of 56GBs for a period of 28 days. Under this offer subscribers can use 2GBs of 4G data per day. This prepaid recharge plan comes bundled with free and unlimited local STD and roaming calls. The plan also gives free and unlimited SMS benefits. In addition Reliance Jio subscribers get access to host of Jio apps such as MyJio JioChat JioCinema JioTV JioMusic JioXpressNews JioMoney and many more. The plan is valid for 28 days.Airtel s prepaid recharge plan priced at Rs 349 Airtel s Rs 349 prepaid recharge plan offers 56GBs of 3G/4G data per day for 28 days with a daily cap of 2GB data. This prepaid recharge plan comes bundled with unlimited local and STD call benefits along with unlimited roaming incoming outgoing calls. Subscribers also get free 100 SMSes per day under this prepaid recharge plan. The plan is valid for 28 days.Vodafone s prepaid recharge plan priced at Rs 348 CommentsClose X Vodafone s Rs 348 offers 56GBs of 4G/3G/2G data for a period of 28 days with a daily cap of 2GB data. Vodafone s Rs. 348 prepaid recharge plan is available for select circles. This prepaid recharge plan comes bundled with unlimited local and STD roaming calls with daily capping of 250 minutes. In a week users can use 1000 calling minutes. Idea s prepaid recharge plan priced at Rs 357 Idea s Rs 357 prepaid recharge plan offers 56GBs of 3G/4G data per day for 28 days with a daily cap of 2GB data. Idea s Rs 357 prepaid recharge plan also offers unlimited local and STD calls and free roaming calls. The plan also offers free SMSes upto a daily limit of 100 (local and STD both). The plan is valid for 28 days. This prepaid recharge plan has some other benefits also such as 100% cashback offer and additional 1GB free internet data on recharge through My Idea App and the Idea s official website. KOLKATA: Reliance Industries Ltd (RIL) will make investments as a good deal as Rs 5 000 crore in West Bengal to reinforce telecom arm Reliance Jio Infocomm s operations its digital surroundings in addition to the organization s retail and gasoline retail agencies chairman Mukesh Ambani stated. The group will also be running with more than one partners to discover the setting up of state-of-the-art subsequent-gen electronics production centers to make West Bengal an innovation hub for patron devices along with cell telephones and set-pinnacle packing containers he stated at the fourth Bengal Global Business Summit in Kolkata on Tuesday. India s richest man stated West Bengal was a pacesetter in ease of business attributing this to business peace underneath the government of leader minister Mamata Banerjee. Under Mamata didi s management West Bengal is now Best Bengal and Reliance Industries stocks Bengal s dream of rapid and inclusive improvement Ambani said. Reliance Industries may even installation digital service centres (DSCs) in West Bengal to offer government-to-citizen (G2C) services to begin with in 5 districts. The circulate is part of the agency s plans to set up DSCs throughout India to convey such offerings inside easy attain of each citizen specifically inside the rural hinterland. The pass will supply beginning to virtual entrepreneurs in villages and small cities kickstart ecommerce guide agriculture as well as small and medium establishments (SMEs) stated Ambani signalling Jio s plans for a country wide virtual revolution. Reliance Industries is already one among the most important traders in West Bengal having pumped in Rs 15 000 crore maximum of this for setting up the telecom community Ambani said. Jio s tasks had created employment opportunities -- each direct and oblique - for extra than one hundred 000 people within the state he said. In the immediately term Ambani stated the united states s most up-to-date 4G carrier will expedite steps to make certain 100% community insurance in West Bengal with the aid of end-2018. Jio s community now covers 1 000 towns and 39 000 villages or about ninety eight% of the nation s population. Ambani said the JioPhone which has obtained a rousing welcome in West Bengal might also help bridge the virtual divide inside the nation as it'd make each person embrace the digital ecosystem. The tool is a 4G VoLTE-enabled characteristic cellphone with an powerful charge of 0 it involves a refundable Rs 1 500 deposit. Only 30% of cellular devices contain 4G telephones within the country and Jio expects to significantly improve their numbers with the JioPhone. Jio will quickly embark on connecting West Bengal with optic fibre and convert every home within the nation into a smart home. Educational establishments and hospitals can be related with optic fibre in the subsequent years he stated. Going ahead he stated Reliance may even work carefully with the West Bengal government to nurture pinnacle soccer skills within the state. Reliance would love to paintings with the kingdom on the grassroots degree to see Bengal produce the next Messi and the subsequent Ronaldo stated Ambani. NEW DELHI: Cloud and Artificial Intelligence (AI) are set to come to be the bedrocks of communications infrastructure with both having the ability to grow manifold in the coming years Akash Ambani director at Reliance Jio Infocomm said on Friday. India s public cloud marketplace is expected to be 2.6 billion in 2018 and over 4 billion with the aid of 2020 Ambani stated on the India Digital Open Summit in Mumbai. Research company Gartner Inc had expected the general public cloud offerings market in India at 1.Eighty one billion in 2017. Public cloud makes use of cloud computing technologies to support customers which might be outside to the provider s business enterprise. Using public cloud services generates the kinds of economies of scale and sharing of resources that could reduce charges and growth choices of technologies Gartner said. Making his first solo appearance at a public occasion Akash the elder son of billionaire Mukesh Ambani also spoke approximately open source blockchain and OpenStack. Ambani said open source changed into very essential for Jio that's collaborating in many projects inclusive of ONAP. The Open Network Automation Platform (ONAP) is an open supply networking automation preferred. Stating that the Open Source network enables force the technology development for areas of interest globally Ambani said AI is becoming mainstream for all. AI initiatives have leveraged Open Source to allow continuous innovation he said including that in conjunction with broadband one of the key technology allowing infrastructures is Cloud. Is cryptocurrency subsequent on Mukesh Ambani s to-do listing? According to a report Reliance Jio Infocomm is drawing up plans to create its personal cryptocurrency Jio Coin. The new guess a Mint record claims is the mandate of a 50-member crew running on blockchain era that's being helmed with the aid of Ambani s elder son Akash. The report comes at a time while Bitcoin has taken a first-rate hit worldwide after South Korea reiterated a proposed ban on such venues fueling problem that a crackdown will erode one of the global s largest sources of demand for digital currencies. Bitcoin dropped as a great deal as 12 percent to twelve 801 earlier than paring losses to about 6 in step with cent in keeping with facts compiled by using Bloomberg. Ripple fell 14 in keeping with cent and ethereum slumped four consistent with cent. Governments around the sector are increasing scrutiny of cryptocurrencies as surging charges entice each person from character buyers to Wall Street banks. Back domestic the finance ministry Arun Jaitley and Reserve Bank of India (RBI) have warned bitcoin customers on the risks such cryptocurrencies convey. Jaitley has even stated that cryptocurrency isn't legalised as of now while the RBI has made it clear more than one instances that the introduction trading or utilization of all digital currencies which include Bitcoins as a medium for price are not accredited with the aid of any critical bank or monetary authority. The finance ministry has likened bitcoins to ponzi schemes. While Jio has now not commented on the pass the report claimed that Ambani s plan to tap into blockchain generation for smart contracts became nonetheless in the idea degree . On its 40th anniversary (1977-2017) Mukesh Ambani Chairman Reliance Industries Limited said the organization owed all its development to its founder Dhirubhai Ambani. Reliance is the introduction of the vision of one character -- my father and our founder Dhirubhai Ambani stated during his cope with to personnel on Reliance circle of relatives day . My father is a undying legend an Indian icon and eternal idea to all Indians of all generations -- Kal Aaj aur Kal -- We shall all the time remain authentic to his imaginative and prescient his beliefs and his principles... On this glad event I on behalf of everyone provide koti koti pranam and are seeking for his benefits he stated. Friends these days allow us to also consider with gratitude all people who worked with Papa -- the first-rate pioneers of Reliance... They often labored towards not possible odds they had very meagre sources than compared to what we've got these days however they never lacked ambition passion dedication humility and also a burning choice and a dream to make Reliance the delight of India he brought. His cope with become conveyed to personnel and their families on social media. Over 50 000 human beings are also attending the celebrations at the Reliance Corporate Park here. Another two hundred 000 employees and their households joined the celebrations stay thru video conferencing in extra than 1 000 places throughout the usa along with manufacturing web sites retail shops and Jio points according to business enterprise officers. Mukesh Ambani stated it's far because of Dhirubhai that Reliance had grown from one worker to over 250 000; from a Rs 1 000 organization to over Rs 6 lakh crore; from one metropolis to twenty-eight 000 cities and towns and over four lakh village. Congratulating her son Mukesh Ambani for his paintings Kokilaben Ambani wanted Reliance long life: Hazaar saal (1 000 12 months) Reliance jio (live). Talking about the company daughter Isha Ambani said: Dhirubhai Ambani turned into the father of all start-ups. Way lower back in 1977 whilst Dhirubhai was beginning Reliance he reached out to the commonplace guy of India and stated: Profits can be yours. The loss mine . This is wisdom that no commercial enterprise school will ever teach us she said. Bollywood famous person Amitabh Bachchan who knew Dhirubhai Ambani started his speech with a couplet from his father Harivansh Rai Bachchan s well-known poem Madhushala. Talking approximately Dhirubhai Ambani Bachchan stated: He was now not the beneficiary of the wealth which turned into received through many at some point of 1947. He had no such luxurious. He become not the third or fourth technology businessman. He turned into the primary technology that grew to become (among the top) . Bachchan said Dhirubhai Ambani turned into pushed by using his personal convictions and sentiments. The character who has only his conviction to agree with upon. He said Dhirubhai Ambani become no longer given any possibilities his dreams invented those possibilities including that a phenomena known as Dhirubhai Ambani could simplest have passed off in India. The RFD -- with the tagline: A circle of relatives that works together celebrates together -- is part of a week-lengthy series of sports throughout the united states of america on the way to cease on December 29 -- the 85th start anniversary of Dhirubhai Ambani. China and India s billionaires were many of the world s quickest wealth creators in 2017 in terms of percentage changes in internet well worth. China s Ma Huateng of Tencent Holdings almost doubled his wealth to forty one.2 billion adding 20.3 billion in 2017. India s Mukesh Ambani became the second high-quality: his wealth grew 77 in keeping with cent and the yr-give up determine become 40.2 billion. In terms of real increase in net really worth Ambani comes 6th among the pinnacle 500 with an boom of 17.Five billion. Jeff Bezos of Amazon who introduced 35 billion to his wealth in 2017 leads the sector s awesome-wealthy listing with a internet worth of one hundred.Four billion. Investor Warren Buffett with a internet well worth of 85.8 billion is the third-richest person inside the international. Mark Zuckerberg of Facebook and Bernard Arnault of LVMH have introduced 24 billion every to their wealth in 2017. The Bloomberg Billionaires Index a day by day rating of the sector s 500 richest humans has risen 23 consistent with cent in 2017 compared with a 20 consistent with cent growth within the MSCI World index. Among Indian billionaires Lakshmi Mittal of ArcelorMittal Azim Premji of Wipro and Gautam Adani of Adani Group have introduced 5 billion every to their net really worth. The handiest new addition to the pinnacle 20 Indian billionaire listing was Radhakishan Damani of Avenue Supermarts whose wealth surged 4.8 billion in 2017 (more than the world s fourth-richest Amancio Ortega of Inditex) to six.7 billion especially due to the stellar debut of his employer at the bourses. Mumbai: Anil Ambani s debt-weighted down Reliance Communications Ltd has signed an agreement to promote its wi-fi assets to Reliance Jio http://www.memonic.com/user/0b3bcc16-9992-40dd-8801-99f20076ecfc/gp/8c1626302a/id/1GAao Infocomm Ltd the telecoms arm of elder brother and billionaire Mukesh Ambani s oil conglomerate Reliance Industries Ltd both the corporations stated in separate statements on Thursday. The decision coincidentally came at the day of their father Dhirubai Ambani s eighty fifth beginning anniversary giving the circulate a symbolic color. The sale incorporates of all spectrum tower fibre optic and different telecom infrastructure belongings of Reliance Communications and is subject to government and different regulatory approvals the statements stated.The sale marks the return of the telecom agency back to the fold of Reliance Industries which forayed into telecoms in 2002 spearheaded by means of elder Ambani below the call of Reliance Infocomm Ltd.A feud among the 2 brothers in 2005 brought about the break up of Reliance Industries while Mukesh Ambani kept the cash cow oil and gas enterprise and Anil Ambani walked away with telecoms and strength.However with the release of Reliance Jio Mukesh Ambani s reentry into the telecom area in September 2016 coupled with cut-charge statistics and free voice carrier rattled the telecom enterprise pushing RCom as it's far commonly known as into a debt spiral.On Tuesday Anil Ambani introduced the company had acquired non-binding offers from 15 companies for the sale of its wireless property. The sale would slash its debt pile with the aid of 390 billion rupees ( 6.09 billion) with none haircut through the banks. CommentsClose X These assets are strategic in nature and are anticipated to make contributions significantly to the massive scale roll-out of wireless and Fiber to Home and Enterprise services by way of RJIL (Reliance Jio) Reliance Jio stated in its announcement.Reliance Jio is India s quickest developing telecoms enterprise with a subscriber base of close to a hundred and forty million. Through the deal Reliance receives get right of entry to to 4 bands of spectrum and forty three 000 telecom towers and a national fibre optic network. Thomson Reuters 2017 NEW DELHI: Anil Ambani s suffering telecom operations acquired a bail-out from elder brother Mukesh s Reliance Jio as the siblings announced a huge-ranging but predicted deal for spectrum towers and optic fibre property on their father s birthday. While the companies are yet to announce the deal length it is expected to be worth round Rs 23 000 crore a massive alleviation http://en.community.dell.com/members/kkgrofers for Anil s debt-ridden Reliance Communications (RCom) that is saddled with loans of almost Rs 45 000 crore and changed into dealing with viable financial ruin court cases. The deal introduced overdue on Thursday nighttime marks the go out of Anil s RCom from the customer telecom space a enterprise he acquired in 2005 as a part of a bitterly-fought own family settlement with Mukesh . He had already stopped the company s patron 2G and 3G operations on the stop of November deciding to retain with best the business enterprise enterprise as well as sale of assets. The corporation s current struggles to live afloat are in sharp assessment to its heyday in 2010 when it turned into India s second biggest mobile operator. RCom has signed definitive binding agreements with Jio on the market of wi-fi spectrum tower fibre and media convergence node (MCN) property... Jio emerged as the highest bidder in a obvious system conducted underneath the supervision of a excessive-powered Bid Evaluation Committee comprising specialists from banking telecom and regulation the corporation said adding that it expects the transactions to shut in a phased way among January and March 2018 challenge to lenders and other relevant approvals. The re-entry of Mukesh inside the telecom enterprise in September ultimate year has driven big consolidation among cellular carrier vendors because the cut-throat prices unleashed by using his Jio disrupted the world s financials. While larger gamers like Vodafone and Idea Cellular decided to merge Anil s RCom simply veered towards a shutdown in the face of mounting losses. RCom which turned into underneath a strategic debt restructuring (SDR) and had been going through irate lenders (a number of whom had dragged the enterprise to the National Company Law Tribunal for recuperation of dues) have been desperately working on offers to part-promote its business. RCom stated the cope with Jio comprises usually of cash price and also includes transfer of deferred spectrum instalments payable to the branch of telecom (DoT). The business enterprise will utilise the proceeds of the monetisation of this cash deal completely for pre-payment of debt to its creditors it stated. After the heightened opposition inside the telecom region following the entry of Jio what had made subjects worse for RCom become its failure to merge its business with Aircel. The fall apart of the deal - which could have helped it cut its debt via Rs 14 000 crore - had resulted in another relatively moneymaking tower address Canadian firm Brookfield that become moving into some other Rs eleven 000 crore also breaking down. Following the disintegrate of the 2 offers RCom s commercial enterprise had seen a big slide mainly with the enterprise running into losses on a near-day by day foundation. This was conceded through Anil on Tuesday in a media conference in Mumbai in which he also introduced a revival plan that prompted a spurt inside the organisation s scrip which closed up 32% at Rs 21.Three on the Bombay Stock Exchange the day on Tuesday. Jio said the deal might help the enterprise extend its telecom enterprise. These assets are strategic in nature and are predicted to make a contribution significantly to the huge-scale roll-out of wireless and fiber-to-home (FTH) and corporation services via Jio the elder Ambani s company said. While spelling out his revival plans on Tuesday Anil had conceded that the telecom business become a cash-guzzler and turned into strolling into consistent losses. This is a crisis of the wi-fi telecom sector and it has engulfed many many human beings and many many agencies... It s a clear sign that this is something which isn't always for 10 gamers to experience. This is extra for 2-3-4 players to experience and those who've both unlimited money or those who have the capability to raise unlimited sum of money Ambani had stated although refusing to call any business enterprise. While it has bought a big part of its property RCom nonetheless has some assets left that it hopes to construct on and possibly monetise going ahead. These includes net facts centres; an organization commercial enterprise that offers telecom and IT services; sub-sea cable operations and big real-property holdings in Mumbai and Delhi. Company officers stated those could also be regarded into actively because the group seems to improve its scenario. Anil had stated on Tuesday that after the of entirety of the revival process the new RCom would have debt of just Rs 6 000 crore down from Rs forty five 000 crore in October. RCom will serve best the low-capex and excessive-margin organisation area from right here on he had delivered. Read this tale in Marathi KOLKATA: Bharti Airtel leader govt Gopal Vittal has said that the worst may be over for the employer in terms of sales erosion however outlined competitive capex plans to reinforce its 4G networks and counter Reliance Jio. To fund the competitive spending wishes the agency indicated that it could sell a miles large stake in its indexed tower unit Bharti Infratel than it has sold till now. The board has authorized divestment of a majority stake in Bharti Infratel and the following block could need to be a considerable amount despite the fact that there's no immediately decision yet Nilanjan Roy international CFO of Bharti Airtel said Friday on an income name. He turned into responding to an analyst s question on a probable extensive stake sale in the tower arm to generate fresh resources amid Airtel s expanded capex requirements through FY19. The impact on Airtel s ordinary leverage and operating earnings (examine: Ebitda) he said might be assessed earlier than any ability stake sale in the tower arm since the objective is to build strategic fee of our underlying telecom enterprise sustain sales market proportion and grow the statistics market . Bharti Airtel s real capex levels in FY18 are possibly to overshoot the Rs 25 000 crore earmarked with the aid of round Rs 1 000-1 500 crore amid the massive growth of 4G networks and its FY19 capex steerage is in all likelihood to be in the same ballpark to sustain such growth. Bharti Airtel and its totally-owned hands own fifty three.51% in Bharti Infratel. Late last year the Sunil Mittal-led carrier had said it would remember a proposal from global investors keen to collect its tower arm. In March last 12 months Airtel offered a 10.Three% stake in its tower arm to a global consortium of personal fairness company KKR and CPP Investment Board for 952 million and in August some other three.65% stake in a secondary sale for Rs 2 570 crore. Thereafter it raised any other Rs three 325 crore via offloading a four.Forty nine% stake to international investors in a block deal to pare debt amid stress on revenue. Vittal said the corporation s instant goal is to grab a disproportionate share of 4G gadgets and 4G number one SIM slots on its community to offset the effect of ARPU erosion within the telco s going for walks conflict for marketplace share with Mukesh Ambani s Jio. Over the subsequent 9-twelve months we will fight aggressively with Jio for marketplace percentage and our immediately aim is to get a bigger bite of the incremental share of 4G number one SIM slots on our community Vital stated. He however said the worst in phrases of ARPU (average revenue according to user) erosion is in the back of (us) including that pricing has to boost as cutting-edge ranges are not sustainable. On fast consolidation underway inside the telecoms region the Airtel executive stated mega mergers just like the one among Vodafone India and Idea Cellular with very exclusive cultures could be very tough to pull off . When Vodafone and Hutch merged in Australia the blended entity lost thirteen-14 market share points stated Vittal indicating that Airtel doubtlessly should gain marketplace percentage whilst Vodafone and Idea conclude their complex merger. Vodafone India and Idea the usa s second and third-largest providers are merging their corporations.