If you are an Indian and if you want to have mobile phone connection absolutely free, then Reliance Industries Limited has an interesting offer for you. Yes, Reliance Industries Chairman Mukesh Ambani today announced the launch of the JioPhone, which will be free of cost for Indians.
All that a subscriber has to do is pay a refundable security deposit of Rs 1500 and wait for three years to get it back. The pre-bookings for the 100 percent 4G compatible JioPhone that will be launched on August 15, will commence on August 24.
RelianceJio's offer of Life-long free voice calls and 4G data streaming at 'zero price' is certain to evoke pretty strong response from mobile users. The phone features include calls and text messaging on voice command, Internet surfing and cable to connect the device to Television to view contents, including videos.
Ambani said that the advent of the 'intelligent' phone will make the 2G feature phone obsolete and added that the company hopes to bring about 5 million phones to the market a week.
The user-friendly phone will feature a 2.4 QVGA display along with an alphanumeric keypad and will support a micro SD card slot. It will come pre-loaded with JioMusic, JioCinema and JioTV.
FM Radio and torch light are among the other features the phone will contain. The phone, which can be operated on voice command also faclitates use of keyboard while speaking to the phone.
This is as far as Reliance Industries' mobile offer is concerned. Another big announcement that Mukesh Ambani made at the company's 40th Annual General Meeting was that the company will issue bonus shares in the ratio of 1:1 for its shareholders.
This is Reliance Industries Limited's first bonus issue after 2009 when it had come out with a 1:1 bonus. Prior to that, the company issued 1:1 bonus in 1997. And 14 years before that, in 1983, Reliance Industries had issued bonus shares in the ratio of 3:5.
After trading hours on 20 July 2017, Reliance Industries reported consolidated net profit of Rs 9108 crore for the quarter ended June 2017, up 28% over year-ago quarter.Revenue was up 26.7% in the first quarter of 2017-18, compared to corresponding quarter of the previous year.
The sharp jump in the company's revenue in the first quarter was due largely to robust performance of its core businesses. Turnover increased 26.7% to Rs 90,537 crore, that included an impressive contribution of Rs 11,571 crore from organised retail.
Refining margins soared to a nine-year high of $11.9 per barrel, while profitability of the petrochemicals business hit a record high.
The company earned close to Rs 1100 crore from the sale of stake in Gulf Africa Petroleum Corp. Without the exceptional item, RIL's profit in the first quarter was still up by a handsome 12.8%.
Reliance Industries shares ended up 3.75% at Rs 1586.20 on BSE on Friday, after hitting a record high of Rs 1592.20. The RIL counter clocked a volume of 1.976 million shares on Friday, nearly 5 times the average daily volume of 3.89 lakh shares.
On the National Stock Exchange, the stock gained 3.6f% to Rs 1584. It touched a high of Rs 1591.70. The counter on NSE recorded a volume of 22.2 million shares in the session.
