The Mukesh Ambani led telecom operator has announced that it will be optimising its go-to-market strategy for rolling out its Fibre-to-the-Home broadband service, Reliance Jio GigaFiber, ET Telecom reported. To recall, the telecom operator had completed the acquisition of DEN Networks and Hathway Cable and Datacom which would help it in establishing last-mile connectivity. The telco has also said that after a series of successful beta tests of Reliance Jio GigaFiber across the country, the service will be rolled out across 1,600 cities. The service will bring home broadband, entertainment, smart home solutions for both enterprise and household customers.
Reliance Jio GigaFiber Commercial Launch
Chairman and Managing Director of Reliance Industries Limited, Mukesh D Ambani said about the upcoming commercial launch of the service, "After successful execution of mobility business, Jio is now focused on catapulting India’s underserved Home & Enterprise connectivity market to global standards with its next-generation FTTX services."
He further added to his words, "Jio mobility services along with Gigafiber fixed-broadband services and associated technology platforms have been designed to transform India with the power of Digital Revolution and reinvent Reliance as a Technology Platform Company.”
To recall, Reliance Jio GigaFiber was introduced in August last year. Also, the telco was seen testing a ‘Triple Play’ plan for its employees to offer unlimited voice calling, 100GB of high-speed data and also free Jio Home TV subscription. The subscription to Jio GigaFiber also bundled10 a complimentary subscription to Reliance Jio’s portfolio of applications.
Reliance Jio Acquires 300 Million Subscribers
What’s crucial to note is that the announcement of the rollout of Reliance Jio GigaFiber comes at a significant time as Reliance Jio has recently crossed the milestone figure of 300 million subscribers in India. In its Q4 financial report for the FY19, the operator also revealed that it became the first operator to amass these many subscribers in such a short time. The report also detailed critical financial parameters in which Reliance Jio stood at par with other telcos for the fourth quarter.
The operating revenue for Reliance Jio in the previous FY19 was Rs 38,838 crore and it also registered an industry-leading EBITDA margin of 38.9%. The operating revenue for the fourth quarter alone was Rs 11,106 crore with the QoQ growth standing at 7% and YoY growth coming out to be 55.8%. Speaking about the profit, Reliance Jio in its report revealed that the net profit for the entire year came out to be Rs 2,964 which was higher than the Rs 723 crore profit that the company witnessed in FY18. The telco’s profits went up by 310% as compared to the last financial year. In retail, Reliance Jio crossed Rs 100,000 crore revenue and also passed the 10,000+ stores milestone.