Reliance Industries Ltd (RIL) Chairman and Managing Director Mukesh Ambani highlighted strong growth in the company’s upstream and digital services segments, reducing the impact of underperformance of the Oil and Chemicals (O2C) segment on the father. Poor demand and supply conditions globally posed challenges for O2C operations. In a news release, Ambani listed several objectives of the project, including increasing commercial productivity, starting production of solar PV modules by the end of the year, revenue per capita per user (ARPU) and increased customer engagement in RIL’s digital services
While this was better than the predicted 11–13% decline, RIL’s consolidated net profit for the September quarter was ₹16,563 crore, down 4.78% from ₹17,394 crore in the same quarter last year In line with market estimates Quarterly revenue of Rs. up marginally by 8% to ₹2,40,357 crore. Notably, Reliance Retail posted a profit of ₹2,935 crore, while Jio Platforms posted a record profit of ₹6,536 crore.
Ambani highlighted the importance of RPU products as ARPU growth and better customer connectivity is the key driver for growth in digital services He also mentioned the development of GeoAir Fiber in digital connecting Indian cities, villages and small and medium enterprises being a factor in the explosive growth in the home broadband market.
Ambani shared his views on the future by highlighting the integration of artificial intelligence and innovative technology solutions in the country He highlighted the growth in consumer touch point product offerings at retail , whose alliances with top domestic and international brands have been Reliance’s own It is able to serve a wide range of customers thanks to its omnichannel retail approach.
Ambani also reiterated that RIL is committed to expanding its retail portfolio, and expects more robust growth in the next three years. He announced that Energy Giga’s first new plant will start producing solar PV modules before the end of the year. RIL’s renewable energy business is well positioned to play a key role in the global clean energy transition thanks to its range of renewable solutions, including solar, energy storage systems, green hydrogen, bio-energy and wind.
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