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Morgan Stanley pegs Jio Revenues at $1 bn in 2016-17
Expecting Reliance Jio to launch its 4G services over the next 3-9 months after an investment to date of over $19 billion, Morgan Stanley expects the retail-to-refining major to log revenues of $1 billion from the telecom business this financial year.
In a post-results analysis, the top investment banker said it also expected Jio to have more than 30 million subscribers by the end of this financial year doubling to 60 million by the next, with an average revenue per user that will be 1.3 times to 1.8 times higher than the industry level.
It said the current voice and data realisation per user was Rs.200.
"Capex (capital expenditure) spend is to be front-ended, expected at over $4.5 billion in 2016-17 -- thus (it) would take the total investments into the venture to over $23 billion into the launch, among highest in the industry," it said.