iWorld
Jio signs up 16 million 4G subs; target, 100 million
MUMBAI: Think Big. Think Global. That’s been the motto of Reliance Industries chairman Mukesh Ambani. And, now the world’s biggest start-up Reliance Jio Infocomm Ltd. (Jio) — which he has been incubating for more than half a decade — has announced that it has achieved a global first.
The number of registered sign-ups Jio has achieved in the first month of its 4G commercial launch – September 2016 — has crossed 16 million. That’s a faster adoption rate than that achieved by any telco or any start-up like Facebook, WhatsApp and Skype.
And, of course, Ambani is pleased as punch by the consumer response. Said he in a press release: “We are delighted and humbled by the overwhelming response across India to the Jio Welcome Offer. Jio is built to empower every Indian with the power of data. We are delighted that people have recognized this and are utilizing our services to the fullest. We are customer-obsessed and committed to improve every day to exceed expectations of our customers.”
Observers say Jio’s subscriber number could have been higher had Ambani and Jio managed to not run into a wall with older competitors like Airtel, Vodafone, Idea. Jio – which has made calls free – reported humungous amount of call failures because its rivals disallowed call connections by the newbie’s users.
Jio is looking to disrupt the entire Indian telecom ecosystem. While all Indian telcos charge for calls, Jio announced that it would not be charging for calls made using its network. And it announced cheaper data plans than rivals. It has been running its Jio Welcome Offer wherein all its services – including data and apps – are free for customers until 31 December 2016. Last week, it announced an offer for iPhone users wherein buyers of the 7, the 7 Plus, the 6, the 6 Plus, 6S, 6S Plus, and the 5SE would not be charged for data and services for 12 months.
To top it all, Jio has introduced Aadhaar-based paper-less Jio SIM activation across 3,100 cities and towns. This enables the customer to complete the SIM activation process in a matter of minutes, with only his/her Aadhaar number.
The press release states that the “this process will be extended across the country and fully stabilized for satisfactory on-boarding experience in the next few weeks.”
Ambani announced at the company’s AGM at the beginning of this month that Jio had set its ambitions high. His goal was to have 100 million subscribers to its services within a year.
Rivals have been scrambling to ward off the Jio onslaught, dropping prices for data and bandwidth, as well as offering value added services at promotional rates.
The overall Indian telecom sector has been seeing shifts too. According to the latest telecom data up to 31 July 2016, the wireless telecom subscriber base shrank to 1034.2 million as against 1035.1 million in end June. Amongst the big losers in the month were Reliance Communications which shed 32.4 lakh customers, and Tata Teleservices and Sistema lost 6,96,325 and 2,28,626 subscribers.
Bharti Airtel led in the gainers table, adding a net 10.7 lakh new customers, taking its total sub base to 256.8 million, whereas Vodafone added 326,248 to take its tally to 199.7 million. Idea signed up 256,170 users taking its final number to 176.4 million.
With Jio expected to spread out its availability further in the coming months, observers are expecting the battles to continue.
Gaming
Bluestone FY26 revenue rises to Rs 2,436 crore, turns profitable
Q4 profit at Rs 31 crore, full-year profit at Rs 13 crore vs loss last year.
MUMBAI: From sparkle to numbers, Bluestone seems to be polishing more than just jewellery this year. Bluestone Jewellery and Lifestyle Limited reported a sharp turnaround in FY26, with revenue from operations rising to Rs 2,436 crore (Rs 24,364 million), up from Rs 1,770 crore (Rs 17,700 million) in FY25. The company posted a full-year profit of Rs 13 crore (Rs 131.79 million), a significant recovery from a loss of Rs 222 crore (Rs 2,218 million) a year ago.
Total income for the year stood at Rs 2,486 crore (Rs 24,860 million), compared to Rs 1,830 crore (Rs 18,300 million) in the previous year, reflecting both topline growth and improved operational momentum.
The March quarter, however, told a more nuanced story. Revenue from operations came in at Rs 681 crore (Rs 6,814 million), down from Rs 748 crore (Rs 7,486 million) in the year-ago period, though higher than Rs 461 crore (Rs 4,613 million) in the preceding December quarter. Net profit for Q4 stood at Rs 31 crore (Rs 311.81 million), compared to Rs 68 crore (Rs 688 million) a year earlier, but a clear reversal from a loss of Rs 51 crore (Rs 512 million) in Q3.
Margins were shaped by higher input costs, with raw material consumption rising to Rs 2,204 crore (Rs 22,043 million) for the full year, alongside employee benefit expenses of Rs 282 crore (Rs 2,824 million) and finance costs of Rs 210 crore (Rs 2,104 million). Other expenses came in at Rs 371 crore (Rs 3,715 million), slightly lower than Rs 393 crore (Rs 3,938 million) in FY25.
On the balance sheet front, total assets expanded to Rs 4,961 crore (Rs 49,610 million) as of March 31, 2026, from Rs 3,532 crore (Rs 35,322 million) a year earlier, driven largely by a surge in inventories to Rs 2,672 crore (Rs 26,718 million). Equity also strengthened to Rs 1,803 crore (Rs 18,030 million), nearly doubling from Rs 911 crore (Rs 9,107 million).
Cash flows reflected the cost of growth. Net cash used in operating activities stood at Rs 199 crore (Rs 1,990 million), while investing activities saw an outflow of Rs 239 crore (Rs 2,392 million). Financing activities, however, generated Rs 497 crore (Rs 4,971 million), helping the company end the year with cash and cash equivalents of Rs 108 crore (Rs 1,075 million), up from Rs 49 crore (Rs 487 million).
Earnings per share for FY26 came in at Rs 1.10, a sharp improvement from a negative Rs 79.74 in FY25, underlining the shift from losses to profitability.
With revenue scaling up, costs still glittering on the higher side, and profitability finally back in the black, BlueStone’s FY26 performance suggests a business mid-transition less about shine alone, and more about sustaining it.
