Reliance Industries AGM: Mukesh Ambani’s may launch JioFiber and other updates

Posted on by KNBT

NEW DELHI: Reliance Industries Limited (RIL) chairman and managing director (MD) Mukesh Ambani is addressing the shareholders of the company at its 41st annual general meeting (AGM) in Mumbai.
In the last AGM, Ambani unveiled the company’s flagship Jio Phone for ‘effectively Rs 0’.

Here is a rundown of what is expected:

* In his AGM speech, Mukesh Ambani launched broadband and fixed line service JioGigafiber

* RIL also unveiled an upgraded version of JioPhone called ‘JioPhone2’

* YouTube, Facebook and WhatsApp will now be available on the Jiophone, and will work just as well as any Android or iOS experience, the company announced

* Mukesh Ambani says, RIL has paid the highest GST and income tax among private players

* The company’s profits were up 20.8 per cent to Rs 36,075 crore last year

* Jio users have doubled in the last year, says Ambani

* He says, there are more than 25 million JioPhone users

* In the last 12 months, RIL has made 12 deals worth Rs 28,900 crore, news agency Bloomberg reported.

Read full story: Ambani’s 12 deals in 12 months

* Ten of these are related to his consumer business. Ambani has also capitalized on India’s ongoing bad-debt issues with purchases of distressed or insolvent companies including a local textile-maker, a carbon-fiber firm and the wireless assets of his brother Anil Ambani’s debt-laden Reliance Communications.

* Reliance Industries reported a consolidated net profit of Rs 9,459 crore for the March quarter, up 17 percent compared to the same quarter of the previous year.

* The RIL stock was up 1 per cent at Rs 999.50 at 10.35 am.

 

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