Reliance Jio's Lyf brand sells 15 lakh devices in Q1 FY18

Key Highlights

• Reliance Lyf is the sister brand of Reliance Jio.
• Its retail stores sold 26 lakh Lyf and JioFi devices in Q4FY17.
• The company added 18 new Reliance Retail stores during the quarter. 

Indian mobile handset company, Reliance Lyf, sold 15 lakh devices inclusive of accessories and mobile phones in the first three months this fiscal, Reliance Industries Ltd said on Thursday.

“Reliance Retail’s device distribution business sold 1.5 million LYF devices and accessories during the quarter,” RIL said while announcing its first quarter results.

In the fourth quarter of FY16, Reliance Retail said that they sold 26 lakh LYF and JioFi devices along with nearly 1 crore units in the last financial year, a report by ET Telecom said on Thursday.

The company registered a 28% rise in profit to Rs 9108 crore.

“Our Company recorded yet another strong quarterly performance with net profit of Rs 9,108 crore, up 28% Y-o-Y. Our industry leading portfolio of assets in the refining and petrochemicals business contributed to considerable improvement in our earnings for the quarter,” Mukesh D. Ambani, Chairman and Managing Director, Reliance Industries Limited said.

The company said it added 18 new Reliance Retail stores during the quarter. “Reliance Retail added 18 stores during 1Q FY18 and operated 3,634 stores across 703 cities with an area of over 13.8 million sqft as on 30th June, 2017.”

“Reliance Retail recommissioned 17 petro retail outlets during the quarter and now operates 465 outlets. All petro outlets are fully automated with real time monitoring and control systems. Reliance Retail has implemented daily price change seamlessly across all outlets from day one onwards, ensuring timely and correct price implementation for our customers,” RIL added.

On its telecom services launched a year ago the company said, “Since commencement of services, Jio has become the fastest growing technology company in the world with more than 100 million in just 170 days, followed by the largest free to paid services migration.”  

Also Read: Reliance Industries' Q1FY18 net profit rises by 28% to Rs 9080 crore