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.
Reliance 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.
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.