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Jio was never profitable from start. It won't be profitable anytime soon either. Please note this isn't first time Mukesh Ambani is dipping his feet into telec
by kamaal 8y ago
Jio was never profitable from start. It won't be profitable anytime soon either.
Please note this isn't first time Mukesh Ambani is dipping his feet into telecommunications. He did before too, but he lost that business to Anil Ambani.
Apparently Jio is like his dream project.
- sbmthakur 8y ago> Jio was never profitable from start. It won't be profitable anytime soon either. I don't get this. Jio has been posting profits for a while[1]. 1. https://economictimes.indiatimes.com/markets/stocks/news/reliance-jio-infocomm-posts-third-straight-quarterly-profit/articleshow/65172420.cms https://economictimes.indiatimes.com/markets/stocks/news/rel...
- kamaal 8y agoIts profit if you completely discount away the debt they have :) Or if you think they started at 0 investment. Or if you thinking on lines of completely discounting their initial capital 'investment' by not calling it Debt. It is debt nevertheless. Its like say took like a crore to start a business, and you are making like a profit of 50000 a month. Its profit, but it isn't exactly profit in an absolute sense, given you have to pay back 1 cr. The thing about companies like Reliance is they can afford to do this. They have debt of $37 billion(https://telecom.economictimes.indiatimes.com/news/cash-rich-reliance-looks-to-raise-3-billion-as-13-billion-debt-matures/64542402 https://telecom.economictimes.indiatimes.com/news/cash-rich-...) and they want to raise another $3 billion. So yes, they post profits. Based on what your definition of profit is.