New Delhi. Perhaps this is the golden period in the history of Reliance Industries. Every company of Reliance Industries is making profits. Mukesh Ambani’s decision to give telecom company Jio in the hands of son Akash Ambani and Reliance Retail Ventures Limited in the hands of daughter Isha Ambani seems to be proving correct.
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Reliance Industries currently has the highest market capitalization in the country. Reliance’s telecom company Jio and retail business have earned record profits in the last quarter of the last financial year.
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Company’s revenue increased by 2 percent
Reliance Industry released the Q4 results and said that the company’s revenue in the fourth quarter is Rs 19,299 crore, which is two percent more than the same quarter of the previous financial year 2021-22.
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Jio’s increased profits
Looking at the Q4 results, Jio has registered a net profit of Rs 4,716 crore, which is 13 per cent higher than the last quarter of FY 2021-22. Let us tell you that Jio had earned a net profit of Rs 4,638 crore in the December 2022 quarter.
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Retail business also rocked
Reliance’s retail business is in the hands of Mukesh Ambani’s daughter Isha Ambani. Giving information about Reliance Retail Business, Isha Ambani said that Reliance Retail is also growing rapidly every year and is achieving year-on-year growth.
In the retail business, customers get good products at affordable prices, due to which the trust of customers has increased year after year on Reliance’s retail business.
Reliance’s Oil to Chemicals business posted operating profit despite uncertainties in the international market and difficulties in commodity trading. The company is also planning to list and demerge Jio Financial Services Limited this year.
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Jio Cinema dominates OTT
In view of the rapidly growing OTT craze in the country, Jio has finally started moving towards it rapidly. First Jio Cinema took the digital and broadcasting rights of FIFA World Cup and now it has ended the monopoly of Disney+Hotstar by taking digital rights of IPL. Jio is now preparing its Jio Cinema app to compete with other OTT platforms including Netflix, Hotstar, Prime Video.
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