Reliance JIO Infocomm Has Posted A Net Loss Of Rs 6.45 Crores In H2 Of Financial Year Ending 2014

Reliance Jio Infcomm is owned by Mukesh Ambani, which acquired the unified licence from the Department of Telecom to operate in 22 circles. The company has just reported a net loss of Rs 6.45 crores incurred in the second half of FY 2013-14. For the year ending FY 2014, the total loss reported is Rs 10.51 Crores.

The company has been spending a lot of money on acquiring different spectrums. Reliance JIO picked up 1,800 MHz spectrum in 18 circles for over Rs 11,000 crores this year. The company is planning to launch its 4G services in the country by the end of the year, which should bring some fresh capital to it and close this gap.