BusinessIs Jio Really Profitable? Audit To Answer Doubts And Controversies
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Is Jio Really Profitable? Audit To Answer Doubts And Controversies
Jio spent billions during rollout period without the costs showing up
Its depreciation and amortization costs also surprised analysts
Jio's entry nipped profits of Airtel, Idea and Vodafone
Jio's auditor, Deloitte Haskins & Sells LLP, is conducting an annual review of Reliance's numbers.
A smartphone in India cost more than $200 just two years ago. Now you can get a decent phone for nothing but a refundable deposit of $23. Data packages are cheap, and a startup company even throws in free voice calls for life. For this, consumers can thank Mukesh Ambani, a 61-year-old petrochemicals titan who is the country's richest man. From his perch overseeing Reliance Industries Ltd., one of India's largest conglomerates, Ambani...