Jio to touch 100 mn subscribers in next 3 years

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Reliance Industries ’ quarterly earnings beat estimates with standalone profit rising 17.9 percent year-on-year (YoY) to Rs 7,704 crore while the income from operations fell 0.3 percent YoY to Rs 64,344 crore. Jal Irani of Edelweiss Financial Services said that it has upgraded the company’s target price by 10 percent to Rs 1,410 per share. Edelweiss is constructive on the company’s Jio business. 

 

Reliance Jio is likely to touch 100 million subscribers in next three years, Irani says. Till September this year, Jio had 16 million subscribers and it continues to add 1-1.2 million subscribers on daily basis.