Diesel, the most-used fuel in India is more expensive than ever before, and petrol prices also are hovering around record levels in several cities. Controls on diesel pricing were lifted four years ago, after freeing petrol rates first.
When it posted results for July through September last year, Jio’s operating earnings were $220 million. Overall, it had a loss of $41 million, and subscriber numbers were growing 12 percent a quarter. But, Jio packed six months of sales into one quarter while counting only 3 months of expenses.