Jio set to foray into video conferencing space with JioMeet platform

Reliance Industries has announced that it is gearing up to launch a nationwide video conference platform, called JioMeet, under its subsidiary Jio Platforms. With social distancing and the nation-wide lockdown, Work From Home will be the norm for a long time to come. Video conferencing has become a lifeline for Indian workplaces to keep in touch and conduct business.

Zoom, Google Meet, Cisco Webex, Microsoft Teams are the platforms that have seen tremendous growth during the COVID-19 period. JioMeet will be competing with these players. Further details are awaited.

Meanwhile, Jio Digital has seen a 26.6 per cent growth in its standalone operating revenue at ₹ 14,835 crore in Q4 FY2020. At ₹ 2,331 crore, standalone net profit has jumped 177.5 per cent; while exceptional item (income) during the quarter of ₹ 31 crore related to reversal of provision on AGR dues.

Jio reported standalone EBITDA of ₹ 6,201 crore and EBITDA margin of 41.8 per cent in Q4 FY2020. A release issued stated that Jio has become the digital lifeline of 388 million Indians with seamless wireless and wireline data connectivity across the country. The platform has seen gross addition of 24 million subscribers in Q4 FY2020, with churn at sub-1 per cent.