Mukesh Ambani’s new money-minting machines: Retail, Digital arms now make nearly half of RIL’s revenues

By: |
January 22, 2021 8:50 PM

RIL’s total revenue stood at Rs 1.28 lakh crore while the combined revenue from the digital services and retail business was at Rs 60,565 crore.

RIL, mukesh ambani, reliance industries, wealth creatorReliance Industries Chairman Mukesh Ambani.

Mukesh Ambani’s efforts to bolster his new cash cows is again bearing fruit for India’s largest listed private company. In the third quarter of the financial year 2021, the retail and digital services arms of Reliance Industries Ltd (RIL) reported a revenue of Rs 36,887 crore and Rs 23,678 crore, making nearly 50% of the oil-to-telecom conglomerate’s revenue for the quarter under review. While revenue from digital services arm was already above pre-pandemic levels, the retail business is yet to recover to pre-covid levels.

RIL’s total revenue stood at Rs 1.28 lakh crore while the combined revenue from the digital services and retail business was at Rs 60,565 crore, nearly 48% of the total revenue of the firm. The Retail arm reported a net profit of Rs 1,830 crore, up 88% from the previous quarter. Jio Platforms, on the other hand, reported a net profit of Rs 3,489 crore, up 15.5% from the previous quarter. 

Key figures

  • Reliance Retail saw an addition of 327 new stores taking its tally to 12,201 physical stores across the country.
  • The total customer base of Jio at the end of 2020, stood at 410.8 million.
  • Jio’s Average Revenue Per User (ARPU) came in at Rs 151 per subscriber per month against Rs 145 in the previous quarter. 
  • Average data consumption per user per month for Jio was strong at 12.9 GB.
  • Average voice consumption was at 796 minutes per user per month.

Traditional cash cows

The traditional cash cows of RIL, the refining and petrochemical arms, have this time been merged into once Oil to Chemical segment. “In line with this vision (new energy), our O2C business has formally reorganised its reporting segments to reflect our new strategy and management matrix for this enterprise,” RIL Chairman, Mukesh Ambani said in a statement. He added that the reorganised structure will enable RIL to pursue attractive new opportunities for growth, with strategic partnerships with the best and the biggest in this business globally. He further said that O2C segment will increasingly move further downstream.

Also Read: RIL beats expectations: Reliance Industries Q3 net profit soars over 12% to Rs 13,101 crore

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, Check out latest IPO News, Best Performing IPOs, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1IndiGo says no direction to company in arbitration award related to promoters’ feud
2WPP settles with US SEC charges of bribery in India, other FCPA violations; to pay $19 mn to watchdog
3MP govt has begun process to set up diamond park in Panna: Chouhan