Among them, Reliance Retail Ventures’ net profit increased by 6.2 percent to Rs 2,400 crore. This event itself is a record. Currently, the company’s operating profit has increased by 25 percent year-on-year to Rs 4,773 crore. Isha Ambani, Executive Director, Reliance Retail Ventures said, “Our results this quarter demonstrate the inherent strength and efficiency of our business model that enables us to serve our customers at all times. We strive to provide the best shopping experience across all our stores and digital platforms so that our bond is further strengthened.” is deep. with our customers and vendors.”
Meanwhile, Reliance Retail expanded its physical store network with the opening of 789 new stores. Its digital commerce and new business business grew by 38 percent and contributed 18 percent to revenues. Particular improvements were seen in its electronics business, fashion and lifestyle segment, grocery business and pharmaceutical business.
On the other hand, Reliance Jio’s standalone net profit rose 28.3 percent year-on-year. The company’s total revenue grew by around 19 percent. 22,998 crore in cash value. The company’s profit rose nearly 3 percent even as its revenue fell 13.3 percent. As a result, the telecom major’s network operating costs rose nearly 16 percent to Rs 7,227 crore a year. The company’s EBITDA grew by 26 percent year-on-year to Rs 12,009 crore. License fees and spectrum usage costs fell by 6 percent year-on-year to Rs 2,120 crore.
On the other hand, the expenditure on personnel rose marginally to Rs 400 crore in the last quarter from Rs 361 crore a year ago. The debt-to-equity ratio stood at 0.17 as of December 31, compared with 0.18 a quarter ago and 0.12 a year ago. Jio platform revenue grew 21 percent year-on-year to Rs 29,195 crore. With this, the profit increased by 25 percent year on year. As of December 31, Reliance Jio’s total subscriber base stood at 432.9 million, up from 427.6 million a few days ago. Reliance Jio Infocomm Chairman Akash Ambani said, “Jio True5G has reached 134 cities in three months and will roll out across India by December 2023. Jio is supposed to wear this performance.” Jio is also poised to reach over 100 million subscribers with JioFiber and JioAirFiber.