27-April-2024
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RJio writes down Rs12,000 crore of intangible assets for FY16
26-Apr-2017

Reliance Jio has written down ?12,000 crore of intangible assets for FY16. The company also disclosed to analysts that its capital expense was partly met with suppliers credit of RS.41,000 crore.Reliance Jio;s subscriber base hit 108.9 million subscribers as of March 31, 2017. The operator has over one lakh mobile towers and it plans to add another one lakh towers to the network in the coming months. “RJio clarified that as of the 109 million subscribers at March-end, 72 million had signed on to the Prime offer. Additionally, it highlighted that there have been far more sign-ups during April. The company also said that most of the Prime sign ups have also taken the higher recharge of Rs303 (valid for three months),” said a report from analysts at JP Morgan. The operator’s capital expenditure stood at Rs.19,000 crore in the fourth quarter ended March 31 and is expected to be Rs.18,000 crore in the first quarter of FY18 .“Company will continue to focus on targeting high ARPU subscribers. Total Jio capex till date stands at Rs.1,79,000 crore, which was funded by Rs.47,000 crore of debt, Rs.45,000 crore of equity, Rs.25,000 crore of OCPS, Rs.22,000 crore of deferred spectrum liability and suppliers credit of Rs.41,000 crore,” said a report from Emkay Research.

News Source:- http://www.thehindubusinessline.com/info-tech/rjio-writes-down-12000-crore-of-intangible-assets-for-fy16/article9663480.ece