Reliance Jio launches JioFi dongle exchange offer, here's how it works

Reliance Industries Q4 results 2018 today Mukesh Ambani firm may report profit for 13th straight quarter

Though Jio started operations in September 2016 with free voice and data offering, 2017-18 was first full year of its financial reporting.

Buoyed by growth across all sectors, RIL posted a 39 per cent rise in revenues at Rs129,120 crore ($19.8 billion) against Rs92,889 crore in the previous-year quarter.

With that, RIL's retail business for the whole year stood at ₹69,198 crore, more than double from the previous year, thus making it the biggest retailer in the country.

"FY 2017-18 was a landmark year for Reliance".

Reliance Jio Infocomm posted a net profit of Rs 510 crore for the fiscal fourth quarter, up 1.2% sequentially from Rs 504 crore in the third quarter.

Refinery contributed Rs. 93,519 crore to revenue and Rs. 5,607 crore to EBIT while petrochemicals contributed Rs. 38,113 crore to revenue and Rs. 6,435 crore to EBIT respectively. Revenues of the business stood at Rs 8,421 crore in Q4FY18, helped by a 16 per cent rise in subscribers.

The company said its total Profit After Tax (PAT) in the petrochemicals segment almost doubled to Rs 6,435 crore during the fourth quarter ended March from Rs 3,441 crore in the corresponding quarter. Reliance Retail recorded a 105 per cent surge in revenue to Rs 69,198 crore.

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RIL's organised retail business delivered a pleasant surprise. "Jio has demonstrated that it can scale and sustain its strong financial performance", Mukesh Ambani, Chairman and Managing Director, Reliance Industries Limited said in a statement.

According to RIL, the increase in revenue was primarily on account of higher volumes with start-up of petrochemicals projects and uptrend in prices of products in refining and petrochemical businesses.

These results prove the competitive marketing strategies of Reliance Telecommunications and their capacity to provide the best services to the customers and their partners.

Reliance Industries' shares closed up 2% at Rs 994.75 on the BSE before the company announced its earnings.

Apart from the revenue aspect, Reliance Jio also released the data which details the number of subscribers along with the total amount of data consumed.

Jio now offers three JioFi devices - JioFi, JioFi M2 and JioFi M2S - and going by the promo image, it seems like the JioFi M2S WiFi Router is being offered as part of the exchange offer.

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