RIL AGM: Jio announces launch of fiber-based broadband service JioGigaFiber
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Reliance IndustriesNSE 0.43 % chairman Mukesh Ambani addressed the company's 41st annual general meeting (AGM) at Birla Matushri Sabhagar in Mumbai.
The oil-to-telecom conglomerate continued with its trend of making big announcements related to its telecom arm Jio. In its previous AGM, the company had announced the launch of Jio phone.
Jio, which was launched in 2016, has shaken the Indian mobile telephony market with attractive offers and has fiercely impacted competition forcing price revisions by competitors.
The buzz is that Jio is expected to officially roll out the much anticipated JioFiber Fibre to the Home (FTTH) services. The wired broadband technology is already being tested in select cities. JioFiber reaches directly to your home whereas other services reach only till the building. This will ensure high data speeds to the end user.
Jio earned a profit of Rs 510 crore for the fourth quarter, growing 1.2 per cent sequentially. The company had logged a profit of Rs 504 crore in the Oct-Dec quarter.
The RIL chairman could also shed light on the e-commerce plan of its retail arm.
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Karnataka Chief Minister Siddaramaiah on Tuesday staged a dharna here protesting against the delay in release of drought relief funds by the Centre and criticised Prime Minister Narendra Modi and Home Minister Amit Shah over the issue.
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The solution can handle up to 10,000 transactions per second (TPS), and enables five times faster access to Unified Payments Interface (UPI) innovations for businesses, the company said.
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