Jio's consolidated revenue from operations rose 18.9 per cent on a year-on-year basis to Rs 18,278 crore during the fourth quarter of FY21.
Reliance Industries has built India's largest 4G network by charging some of the lowest data rates in the world.
Airtel will receive a consideration of Rs 1,037.6 crore from Jio for proposed transfer. Jio will assume future liabilities of Rs 459 crore relating to the spectrum.
Through this agreement, Airtel will receive a consideration of Rs 1,037.6 crore from Jio for the proposed transfer. In addition, Jio will assume future liabilities of Rs 459 crore relating to the spectrum, Bharti Airtel said in a separate statement.
By offering a bundled connectivity plan at 1/10th the existing price (Rs 15-20K/month) in the market, Jio is looking to expand the addressable market in the MSME segment.
Telecom giant Bharti Airtel bid Rs 18,699 crore to pick up 355.45 megahertz (MHz) out of the 855.60 MHz of radiofrequency, giving it "most formidable" spectrum holding in the country.
Jio - which emerged as the top buyer picking up spectrum for Rs 57,122.65 crore in the auctions - said it has well-balanced spectrum for services and future upgradation to 5G technology.
Billionaire Mukesh Ambani's Reliance Industries Ltd on Friday reported a better-than-expected 12 per cent rise in December quarter net profit on improving oil-to-chemical business, strong continued momentum in retail and steady telecom unit Jio.
Jio Platforms, which provides digital and telecom services, had posted a net profit of Rs 3,020 crore in the previous quarter.
Reliance has moved a petition in Punjab and Haryana High Court seeking urgent intervention of government authorities to bring a complete stop to illegal acts of vandalism by miscreants.
Mukesh Ambani-owned Reliance Jio Infocomm has announced that all voice calls from Jio to other networks in India will be free from January 1, 2021 as Interconnect Usage Charge (IUC) regime comes to an end.
Reliance Jio has approached the telecom regulator, saying that its rivals Bharti Airtel and Vodafone India have resorted to "unethical" means and have spread "false" rumours that the Mukesh Ambani-led company will benefit from the recent farm bills.
Telecom operators Reliance Jio, Bharti Airtel and Vodafone Idea said 5G spectrum identified by the government for auction is not enough and proposed prices are too high.
Reliance Jio has plans to launch 5G services in the second half of 2021, Reliance Industries Chairman Mukesh Ambani said on Tuesday. Speaking at the India Mobile Congress, Ambani said policy steps are needed to accelerate an early rollout of 5G, and to make it affordable and available everywhere.
Reliance Jio has urged telecom regulator Trai to work out a mandatory schedule for periodic spectrum auctions to ensure that telecom operators do not have to wait long for radiowaves to meet their network requirements.
Billionaire Mukesh Ambani's Reliance Industries Ltd on Friday reported a 15 per cent drop in second quarter net profit after the pandemic-hit oil demand dragged down continued good showing in consumer-facing businesses such as telecom.
Global investment firm KKR on Thursday said it has floated a separate company, Virescent Infrastructure, to acquire renewable energy assets in India. Virescent currently owns 317 MW of solar assets located in Maharashtra and Tamil Nadu.
Reliance Jio has launched new, revamped `JioPages', its Made-in-India mobile browser that is available in eight Indian languages and promises enhanced browsing experience while focusing on data privacy.
Qualcomm Technologies and Reliance Jio on October 21 announced they achieved over a 1 Gbps milestone speed on the Jio 5GNR solution, leveraging the Qualcomm 5G RAN Platforms.
Reliance Jio is planning to launch a 5G smartphone for less than Rs 5,000 and gradually reduce the price to Rs 2,500-3,000 a unit when it scales up the operation, according to a company official.