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Jio’s 72 million paid users credit positive for Reliance: Moody’s
Newcomer Jio’s 72 million paid customers are “credit positive” for parent Reliance Industries as subscriber enrolment reduces cash flow uncertainty of the telecom business, Moody’s Investors Service said on Wednesday.
New Delhi: Newcomer Jio’s 72 million paid customers are “credit positive” for parent Reliance Industries as subscriber enrolment reduces cash flow uncertainty of the telecom business, Moody’s Investors Service said on Wednesday.
Moody’s calculation shows that Jio will be able to generate revenue of about Rs 213 billion (Rs 21,300 crore) for the current financial year, assuming all 72 million users pay Rs 303 per 28 days between July 2017 and March 2018, reports PTI.
On the enrolment of paid subscribers, Moody’s Investors Service said, “This is credit positive as the subscriber enrolment reduces cash flow uncertainty of the telecom business, on which RIL has spent over Rs 1.7 trillion (Rs 1,70,000 crore) over the last six years.”
Jio, in February, said it has enrolled 100 million users for its free services that was slated to end on March 31.
