Q2-17: Reliance: Jio busts records, organised retail grows 63 percent


BENGALURU: The Mukesh D Ambani led Reliance Industries Limited (RIL) organized retail segment - Reliance Retail,  continued its growth momentum and profitability in the quarter ended 30 September 2016 (Q2-17, current quarter), while its digital services offering Jio has broken all records in terms of subscriber acquisition.

The RIL earnings release for Q2-17 says that Jio has created a world record by crossing 1.6  crore (16 million) subscribers in its first month of operations (September 2016). RIL says that Jio has achieved this growth faster than any other telecom operator or start up in the world including the likes of Facebook, WhatsApp and Skype.

Ambani, said, “We are delighted and humbled by the enthusiastic adoption of Jio by India. Jio is built to empower every Indian with the power of data.”

Further, RIL claims that Jio applications have been very popular on the network. In 1 week from launch, all the 12 Jio applications were ranked in the top 15 applications on Playstore and Appstore. All the Jio applications, including JioTV, JioCinema, JioMusic, JioMagazine, JioNews, which bouquet is worth Rs. 15,000 for an annual subscription, have been provided complimentary for all active Jio subscribers up to 31 December 2017.

Organised Retail

RIL’s Organised Retail segment revenue in the current quarter increased 63 percent year-over-year (y-o-y) to Rs 8,079 crore as compared to Rs 4,856 crore and increased 21.2 percent quarter-over-quarter (q-o-q) from Rs 6,666 crore. 

The segment’s EBIT increased 42.1 percent y-o-y to Rs 162 crore from Rs 114 crore and increased 9.5 percent q-o-q from Rs 148 crore.

RIL says that during the quarter, Reliance Retail added 59 stores across various store concepts and strengthened its distribution network for consumer electronics. Omni commerce channel offerings www.footprint360.com and www.ajio.com gained traction during the quarter. As on 30September 2016, Reliance Retail operated 3,442 stores across 679 cities with an area of over 1.3 crore (13 million) square feet.

RIL numbers

RIL achieved a turnover of Rs 81,651 crore ($ 12.3 billion), an increase of 9.6 percent, as compared to Rs 74,490 crore in the corresponding period of the previous year. Increase in revenue is primarily on account of increase in volumes in refining, petrochemical and retail businesses.

Operating profit before other income and depreciation (before exceptional item) increased by 20.2 percent on a y-o-y basis to Rs 11,176 crore ($ 1.7 billion) from Rs 9,301 crore in the previous year. Strong operating performance from refining and petrochemicals businesses was partially offset by lower contribution from Oil &  Gas business due to lower volumes and weak price environment says that company.

Profit after tax excluding exceptional items was higher by 43.1 perc ent at Rs 7,206 crore ($ 1.1 billion) as against Rs 5,035 crore in the corresponding period of the previous year. 

Basic earnings per share (EPS) excluding exceptional items for the quarter ended 30th September 2016 was Rs 24.4 as against Rs 17.1 in the corresponding period of the previous year.

Note:The unit of currency in this report is the Indian rupee - Rs (also conventionally represented by INR).The Indian numbering system or the Vedic numbering system has been used to denote money values. The basic conversion to the international norm would be:

(a) 100,00,000 = 100 lakh = 10,000,000 = 10 million = 1 crore.

(b) 10,000 lakh = 100 crore = 1 arab = 1 billion.Skype, www.footprint360.com, www.ajio.com, Q2-17

Latest Reads

India fastest-growing market in first year for Amazon: Jeff Bezos

MUMBAI: Amazon’s unstoppable march continues worldwide, including India. Putting an end to the speculation around the number of Amazon Prime subscribers, Amazon CEO Jeff Bezos has finally revealed the data in a letter to shareholders. The e-commerce giant has crossed 100 million subscribers for...

iWorld Over The Top Services
TVF ropes in Vivek Saxena as north head for brand partnerships

MUMBAI: The Viral Fever (TVF), a digital platform, has announced Vivek Saxena as north head for brand partnerships. Saxena has joined TVF from Hotstar where he was managingagency relationship nationally with Publicis, IPG and Omnicom Media Group.

iWorld Over The Top Services
Introducing Mobile Previews

One of the best ways to know if you’ll like a new series or movie is to watch a quick trailer. Today, we are excited to introduce mobile previews (launching today on iOS and coming soon to Android) to the mobile experience. Mobile previews present members with a fun, simple, and easy way to learn...

iWorld Over The Top Services
FuboTV raises $75 million from Fox, AMC Networks and Sky

Days after ESPN launched its new streaming service ESPN+, FuboTV, a three-year old streaming TV service for sports fans, is announcing the close of $75 million in Series D funding. The round included new investor AMC Networks and existing investors 21st Century Fox, Luminari Capital, Northzone,...

iWorld Over The Top Services
Facebook's Q1 ad spend on 4C grows by 62%

MUMBAI: Marketing technology company 4C, in its latest report, reveals that spend across major social and mobile platforms in the first quarter of 2018 increased significantly year-on-year (YoY) with the greatest revenue growth on 4C witnessed by Snapchat (234 per cent) and Instagram (136 per cent...

iWorld Social Media
ALTBalaji's Sethi reaffirms faith in originals

MUMBAI: Among the plethora of over-the-top (OTT) players that sprung up in the Indian market, we have Balaji Telefilms’ ALTBalaji, which is striving to understand content through the eyes of its customers. The platform takes customer feedback seriously to predict which content will work. After...

iWorld Over The Top Services
Shilpa Shetty makes digital debut with Amazon dating show

MUMBAI: In order to build a strong footprint in India, Amazon Prime Video has announced a new show Hear Me. Love Me around the concept of blind dating.  Bollywood actress and fitness guru Shilpa Shetty will host the show marking her debut on a digital platform.

iWorld Over The Top Services
Netflix beats earnings forecasts riding on global user additions

MUMBAI: Exceeding user addition forecasts, Netflix’s first quarter (Q1) earnings were in line with expectations while revenue bettered estimates.

iWorld Over The Top Services
Jio shifts focus to wired broadband

After bringing about a massive change in the usage of wireless internet and market dynamics, Reliance Jio is looking at the broadband or wired internet sector. According to a media report, Jio is working at full steam to launch broadband in homes towards the end of this year.

iWorld Broadband

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories