Billionaire Mukesh Ambani’s Oil-to-telecom conglomerate Reliance Industries Ltd reported a 12.5 percent rise for consolidated net profit at Rs 13,101 crore for the third quarter. However, the Group’s operations revenue was impacted largely due to the corona virus outbreak and fell by 22 percent.
With their separate Oil-to-Chemicals (O2C) business segment, Reliance has reflected their new strategy and management matrix for the company. The O2C platform will further move downstream and become closer to customers. It will not only create planet-friendly but also affordable energy to meet the growing needs of the Indian economy.
Jio and Reliance Retail comprises of about 56 percent of the pre-tax profit (EBITDA) of RS 8,483. Jio Platforms, which provides digital and telecom services recorded 15.5 percent rise in net profit to ₹3,489 crore whereas the retail segment saw its’ profit increased by 76.3 percent to ₹2,482 crore.