Reliance: The Reliance Group is no longer just an oil extraction and refinery company, but has also become India’s largest telecom and retail company. But who will write the new fate of Reliance in the future?
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Mumbai: At one time, Reliance Industries was recognized in the country as well as in the world by its crude oil and petroleum products business. But today the picture is completely different. The Reliance Group is no longer just an oil extraction and refinery company, but has also become India’s largest telecom and retail company. But who will write the new fate of Reliance in the future?
Reliance Jio and Reliance Retail under Reliance Industries have done well in recent times. Today, Reliance Corporation is going to announce their annual earnings results. All eyes are on Reliance’s presentation of this report. That’s because, from this report, it can be predicted that the burden of Reliance will be on whose shoulders in the future?
Reliance Jio’s profit rose 12.3 per cent in the October-December quarter, according to Reliance Industries’ financials for the third quarter (October-December) of the financial year 2023-24. This largest company in the telecom sector brought in Rs 5208 crore to Reliance’s coffers. Whereas in the same quarter of the financial year 2022-23, Jio’s profit figure was Tk 4638 crore.
Similarly, Reliance Retail also created a new record by achieving huge profits. Reliance Retail’s business grew by 32 percent. The company made a profit of Tk 3,165 crore in the third quarter of the financial year 2023-24. Whereas the profit figure in retail business in October-December 2022-23 was Tk 2400 crore.
Reliance Industries has not yet separated these two companies. Both are not separately listed on the stock market, yet the company separately announces the financial results of its two new businesses. If you look at the statistics of this year, it will be understood, who has made more profit, retail or Jio. Let’s see if the owner of the company Mukesh Ambani makes any big announcement in the annual report.
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