Reliance Industries Ltd said it will launch its 4G/LTE wireless services commercially in the coming months. Reliance Industries, has invested about $20 billion (around 1.35 Lakh crores) on building India's biggest 4G network. Its Jio unit currently has 1.5 million users including the group's employees and others testing the network.
Both investors as well as rivals in the telecoms industry are keenly waiting for the services to be launched as Reliance seeks to reshape the Indian telecom market with low-priced offerings.
Reliance bought its first airwaves in 2010, is due to launch the services commercially since December last year. "The test program will be progressively upgraded into commercial operations in coming months," Reliance said in a statement on Friday as it reported its earnings for the three months to June 30.
Consolidated net profit rose to Rs. 71.13 billion ($1.1 billion) for the three months to June 30, from Rs. 60.24 billion a year earlier, beating analysts' expectation of Rs. 65.15 billion. Revenue for the quarter, however, fell 13.4 percent year-on-year to Rs. 714.51 billion on lower crude oil prices.
Both investors as well as rivals in the telecoms industry are keenly waiting for the services to be launched as Reliance seeks to reshape the Indian telecom market with low-priced offerings.
Reliance bought its first airwaves in 2010, is due to launch the services commercially since December last year. "The test program will be progressively upgraded into commercial operations in coming months," Reliance said in a statement on Friday as it reported its earnings for the three months to June 30.
Consolidated net profit rose to Rs. 71.13 billion ($1.1 billion) for the three months to June 30, from Rs. 60.24 billion a year earlier, beating analysts' expectation of Rs. 65.15 billion. Revenue for the quarter, however, fell 13.4 percent year-on-year to Rs. 714.51 billion on lower crude oil prices.
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