Mukesh Ambani calling Jio Happy New Year offer till March 2017

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Mukesh Ambani-owned Reliance Industries (RIL) further extended the free usage period for Jio services to its existing and new customers till March 31, 2017, pushing the start of Jio’s commercial operations to the next financial year.
“Starting December 4, 2016, every new Jio user will get Jio’s data, voice, video and the full bouquet of Jio applications and content, absolutely free, till March 31, 2017. We are calling this Jio Happy New Year offer. The benefits will be available to all subscribers signing up for Jio services up to March 3, 2017,” said Mukesh Ambani, chairman, Reliance Industries, in a live video address over the firm’s social media channels to its stakeholders. Ambani further added that all existing customers under the Jio Welcome offer would automatically be signed up for the new offer on January 1, and get extended benefits till March 31, 2017.

The decision to further extend promotional services will push RIL’s accounting for both the depreciation on capital invested in telecom and earnings from this vertical to the next financial year, say analysts. They point out that the larger and adverse impact, however, would be on the incumbents.

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