Reliance Jio Infocomm Limited (Reliance Jio), the telecom arm of Mukesh Ambani-controlled Reliance Industries Limited (RIL), is all set to launch its 4G services in the "coming months." The company gave the information in a presentation on Saturday, a day after declaring its fourth quarter results.
The company said results of 4G services rolled out to RIL Group employees, partners, vendors and associates in December last year on a trial basis was successful.
"Test program to be progressively upgraded into commercial operations in coming months," RIL said in its presentation to analysts on the audited results for the fourth quarter ended March 2016, a copy of which was filed with the stock exchanges.
The company said the response to the trial rolled out to about 5 lakh users was "encouraging."
"Initial feedback very encouraging; established smooth operations of all aspects of network and business. All digital applications also being tested extensively. Average monthly consumption per user in excess of 18GB within first month of service and increasing rapidly. Average voice usage is over 250 minutes within first month," the presentation said.
The company declared its fourth quarter and full year results on Friday.
Net profit rose to a record Rs. 7,398 crore for the fourth quarter, up 15.9 percent from Rs. 6,381 crore in the corresponding quarter in the previous financial year. Revenues declined 8.9 percent to Rs. 64,569 crore.
The gross refining margin (GRM) was $10.8 per barrel during the quarter, highest in the last seven years, the company said. However, on a sequential basis, the GRM was down from $11.8/bbl in the December 2015 quarter. The company said that around 950 retail outlets of the company were operational as on March 31, 2016.
For the full-year ended March 31, 2016, RIL posted a consolidated net profit of Rs. 27,630 crore, up 17.2 percent from Rs. 23,566 crore. Revenues declined 23.8 percent to Rs. 2,96,091 crore from Rs. 3,88,494 crore in 2014-15.
The company did not declare final dividend on Friday. It had declared an interim dividend of 105 percent last month, entailing a payout of Rs. 3,717 crore ($561 million).
The RIL stock closed at Rs. 1,038.75 on the BSE on Friday.