Ripples Advisory, What to expect from Reliance Industries' 41st AGM today?
Media reports suggest that RIL could announce the commercial launch of its broadband venture, Jio Fiber service.
The Mukesh Ambani-controlled oil-to-retail-to-telecom conglomerate Reliance Industries (RIL) will hold its 41st annual general meeting (AGM) on July 5, 2018.
The AGM will begin at 11 am at Birla Matushri Sabhagar, 19, Sir Vithaldas Thackersey Marg, near Bombay Hospital and Medical Research Centre, in Mumbai.
For the last few years, RIL has made massive Jio-related announcements during the AGM and the trend is expected to continue. Not to forget, the highly-anticipated Jio-Phone was launched at the same event last year, which was made available for a refundable deposit of Rs 1,500.
Reports suggest that RIL could well announce the commercial launch and prices for its broadband venture, Jio Fiber service.
So what is JioFiber and how is it different from other broadband connections?
JioFiber is the latest offering from Jio for your home. It offers ultimate broadband experience to surf, stream, game and work, because of its ultra-fast upload and download speeds and effective functioning in merely "milliseconds".
Highlights from March quarter results:
Reliance Industries reported a consolidated net profit of Rs 9,459 crore for the March quarter, up 17 per cent compared to the same quarter of the previous year.
Consolidated quarterly revenues stood at Rs 1.29 lakh crore, up 39 per cent quarter on quarter. Earnings before interest, taxes, depreciation, and amortisation (EBITDA) rose 5 per cent, QoQ, to Rs 18,469 crore, and the operating margin was 15.8 per cent.
Jio has continued its strong subscriber growth trend with net addition during the quarter of 26.5 mn and its total count reached to 186 million. Higher competition has capped ARPU to Rs 137 which resulted in lower revenue of Rs 8,421 crore.
Most brokerages have highlighted that the results have largely been in line with estimates, but have raised target prices up to Rs 1,200.
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