The gross revenue of Isha Ambani-led Reliance Retail was Rs 69,948 crore, jumping 19 percent year-on-year from Rs 58,554 crore in the corresponding quarter last year.
Reliance Industries’ telecom division Jio Infocomm, which is led by Mukesh Ambani’s elder son Akash Ambani, on Friday announced that the company has collected net profit of Rs 4,863 crore for the quarter ended June. The huge standalone profit means that Jio Platforms has registered a growth of 12.17 percent year on year. The revenue from operations was Rs 24,042 crore, jumping 9.91 percent year on year. Jio Infocomm said that the revenue has increased 2.76 percent from Rs 23,394 crore in the previous quarter. According to company, its Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) for the quarter came in at Rs 12,278 crore, rising 0.55 percent QoQ from Rs 12,210 crore.
“Jio continues to make rapid progress in rolling out its True5G network. Jio is on track to complete pan India 5G rollout before December 2023. The new JioBharat phone is another innovation by Jio combining network and device capabilities to help accelerate ‘2G-MUKT BHARAT’ vision and democratize internet. With these investments, Jio is embarking on a journey to accelerate growth momentum across connectivity and digital platforms over the coming years,” said Akash M Ambani, Chairman, Reliance Jio Infocomm.
On the other hand, Reliance Retail, which is led by Mukesh Ambani’s daughter Isha Ambani also announced its financial results for June quarter on Friday. Reliance Retail, the retail arm of Reliance Industries, reported a revenue of Rs 69,962 crore, which is 19.5 percent more than previous year's Rs 58,569 crore.
The gross revenue of Reliance Retail was Rs 69,948 crore, jumping 19 percent year-on-year from Rs 58,554 crore in the corresponding quarter last year. According to company, the growth in revenue was led by growth in Grocery, Consumer Electronics (excluding Devices) and Fashion & Lifestyle.
"The sustained growth across consumption baskets has further consolidated our position as a market leader. We continue to innovate and invest in our stores and digital platforms to make shopping more engaging for our customers." said Isha M Ambani, Executive Director, Reliance Retail Ventures Limited.
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 "Good news for Mukesh Ambani, Isha Ambani, Akash Ambani as Reliance Jio, Reliance Retail record profits")
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