Mumbai: Reliance Industries, the oil-to-telecom conglomerate, made significant strides its retail and telecom business with Reliance Retail crossed Rs 1,00,000 crore revenue milestone, while Jio now serves over 300 million consumers.
The company opened more retail stores and added 26.6 million new subscribers to its Jio mobile phone service that helped increase the profitability of the venture as its traditional oil refining business witnessed margin pressures on fluctuating international oil prices.
"During financial year 2018-19, we achieved several milestones and made significant strides in building Reliance of the future. Reliance Retail crossed Rs 1,00,000 crore revenue milestone, Jio now serves over 300 million consumers and our petrochemicals business delivered its highest ever earnings,” RIL CMD Mukesh Ambani said.
Its retail business, comprising 10,415 stores, saw pre-tax business profit jump 77.1 per cent to record Rs 1,923 crore....