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Q2-2016: Reliance Jio to ramp beta program; organized retail on growth path

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BENGALURU: The Mukesh Ambani led Reliance Industries Limited (RIL) organised retail segment - Reliance Retail, continued its growth momentum and profitability in the quarter ended 30 September, 2105 (Q2-2016, current quarter).

 

RIL chairman and managing director Ambani said, ?Reliance Retail achieved a milestone of Rs 5,000 crore quarterly turnover mark for the first time, reflecting continuing growth momentum in physical retailing. In Digital Services, we have substantially completed the network roll-out across the country and initiated the process of beta testing of our network and platforms.?

 

?We achieved record levels of EBITDA and profits for the quarter, underscoring our ability to optimally utilise our assets across the value chain to leverage favourable market conditions. Refining business performance was notable, as it benefited from a combination of high utilisation levels, advantageous crude market opportunities and strong global fuels demand. Petrochemicals segment performance reflects strong volume growth, product mix improvement and lower energy costs,? he said.

 

?We maintained a rapid pace of construction activity during the quarter. The company?s world-scale petroleum coke gasification facility and ethylene cracker complex remains on track for its planned 2016 start-up,? added Ambani.

 

Revenues for Q2-2016 grew by 22 per cent Yo-Y to Rs 5,091 crore from Rs 4,167 crore and 8.4 per cent QoQ from Rs 4698 crore. RIL says that all format sectors grew through store additions as well as like for like growth ranging up to 16 per cent. The business delivered PBDIT growth of 12.9 per cent at Rs 210 crore in Q2-2016 as against Rs 186 crore in the corresponding period of the previous year, and PBIT growth of 3.4 per cent from Rs 203 crore in Q1-2016.

 

Further, Reliance Retail expanded its reach with a net addition of 110 stores during the quarter. As on 30 September, 2015, Reliance Retail operated 2,857 stores across over 250 cities in India.

 

The company says that Reliance Retail 2.0 initiatives encompassing fashion and lifestyle e-commerce, development of market place platform and building distribution ecosystem for Reliance Jio devices are on track and gearing up for rollout in a staged manner.

 

Reliance Retail would soon launch its own brand of 4G LTE smartphones under the brand LYF. The brand built on the premise of unmatched user experience will offer high performance handsets that deliver a true 4G experience comparable to the best in the world. LYF range of smartphones with features like Voice over LTE (VoLTE), Voice over Wi-Fi (VoWi-FI), HD Voice and HD quality video calling will enable users to experience a new digital life.

 

LYF phones will reach consumers across the country through one of the widest distribution and retail network for smartphones. The devices will soon be available at multi-brand outlets (MBOs) and modern trade including Reliance Retail stores across India.

 

RIL numbers

 

For Q2-2016, RIL achieved a turnover of Rs 75,117 crore, a decrease of 33.8 per cent, as compared to Rs 113,396 crore in Q2-2015 and 9.6 per cent lower than the Rs 83064 crore in the immediate trailing quarter.

 

However, RIL?s net profit after tax (PAT) increased 12.5 per cent in Q2-2016 to Rs 6720 crore as compared to the Rs 5972 crore in Q2-2015 and increased 8 per cent as compared to the Rs 6222 crore in the previous quarter.

 

Sale of Network18 shares

 

In July 2015, RIL sold 3.25 crore shares of Network18 Media & Investments Limited, (representing 3.10 per cent of the equity capital of NW18) to bring down the aggregate shareholding of the promoter and promoter group to 75 per cent and increase the public shareholding to 25 per cent as mandated by Clause 40A of the listing agreement pursuant to Securities Contract (Regulation) Rules, 1957.

 

Reliance Jio Infocomm Limited

 

Reliance Jio Infocomm Limited (RJIL), a subsidiary of RIL, has substantially completed its network roll-out across the country. The network is currently being tested and optimised. Most of the business platforms have been rolled out and are being tested in a limited use environment. Large number of testers have been employed by the company across the country to facilitate extensive testing of network and business platforms.

 

The company expects to ramp up its beta program over the next few weeks to further optimise the network, prior to commercial launch of operations. Financial year 2016-17 is projected to be the first year of commercial operations for RJIL.

 

RJIL has launched Wi-Fi hot spots across several locations in the country and has entered into agreements with some of the State and Local Authorities to provide Wi-Fi services. RJIL has also started rolling out last-mile connectivity for its fibre-to-the-home (FTTH) business.

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