iWorld

Q3-2016: Reliance organised retail continues on growth path, Jio launched

https://www.indiantelevision.com/sites/default/files/styles/smartcrop_800x800/public/images/internet-images/2016/01/27/Untitled-1.jpg?itok=FDGevEWP

BENGALURU: The Mukesh D Ambani led Reliance Industries Limited’s (RIL) organised retail segment - Reliance Retail, continued its growth momentum and profitability in the quarter ended 31 December, 2105 (Q3-2016, current quarter, Q3-16).

RIL chairman and managing director Ambani said, “Our portfolio of world-class refining and petrochemical assets are paying-off handsomely. Refining business delivered yet another record performance on the back of seven-year high refining margins and highest ever crude throughput. In the current nine-month period, our refining business EBIT has surpassed the record earnings it achieved in FY-2015. The petrochemical business also delivered amongst its best quarterly performance, driven by robust polymer margins. The benefits of low crude oil and energy prices for our downstream businesses clearly outweigh the impact of these factors on our upstream segment, reflecting in the record earnings for the quarter.”

“In the last quarter we also achieved significant milestones in our consumer facing businesses. In the biggest ever launch, Jio services have been offered to over 100,000 group employees and their families enabling them to experience the world-class digital services and applications, and help co-creating the best experience for all our customers. Our retail business crossed Rs 6,000 crore quarterly revenue milestone with a footprint now encompassing over 3,000 stores in 371 cities,” added Ambani.

Revenues from RIL’s retail segment for Q3-2016 grew by 28.9 per cent YoY to Rs 6,042 crore (8.9 per cent of consolidated net turnover) as compared to Rs 4,686 crore (five per cent of consolidated net turnover) and grew 18.7 per cent QoQ as compared to Rs 5,091 crore (7.2 per cent of consolidated net turnover). RIL says that consolidated its leadership position in the grocery category. It further optimised its network operations to enhance profitability across the grocery retailing chain. Several private label products were launched under various grocery and general merchandise categories during the quarter. These continue to attract consumers due to compelling value proposition and great quality.

The business delivered operating profit growth of 10.5 per cent YoY at Rs 147 crore (2.4 per cent margin)in Q3-2016 as against Rs 133 crore, and grew 25.6 per cent QoQ as compared to Rs 117 crore in Q2-2016.

RIL numbers

For Q3-2016, RIL achieved a consolidated net turnover of Rs 68,261 crore, a decrease of 27 per cent YoY, as compared to Rs 93,528 crore in Q3-2015 and 3.7 per cent lower than the Rs 70,901 crore in the immediate trailing quarter.

However, RIL’s net profit after tax (PAT) increased 39.3 per cent YoY in Q3-2016 to Rs 7,431 crore as compared to the Rs 5,271 crore in Q3-2015 and increased 9.4 per cent as compared to the Rs 6,709 crore in the previous quarter.

Reliance Jio Infocomm Limited

Reliance Jio Infocomm Limited (RJIL), a subsidiary of RIL, is rolling out a state-of-the-art pan India digital services business. In addition to fixed and wireless broadband connectivity offering superior voice and data services on an all-IP network, RJIL says that it will also offer end-to-end solutions that address the entire value chain across various digital services in key domains such as education, healthcare, security, communication, financial services, government-citizen interfaces and entertainment. RJIL aims to provide anytime, anywhere access to innovative and empowering digital content, applications and services, thereby propelling India into global leadership in digital economy. RJIL aims to bring connected intelligence to the country through its extensive true 4G connectivity.

RJIL is the first telecom operator to hold pan India Unified License. It holds 751.10 MHz of liberalised spectrum across the 800 MHz, 1800 MHz and 2300 MHz bands. RJIL plans to provide seamless 4G services using LTE in 800 MHz, 1800 MHz and 2300 MHz bands through an integrated ecosystem. The combined spectrum footprint across frequency bands provides significant network capacity and deep in-building coverage. In addition, RJIL has entered into agreements with RCOM for change in spectrum allotment in the 800 MHz band from RCOM to RJIL across nine circles and sharing of spectrum in the 800 MHz band across 17 circles.

Media business

Consolidated revenue and EBITDA of Network18 Media & Investments Limited was Rs 906 crore and Rs 95 crore, respectively during the quarter. Network18’s news channels (CNBC-TV18, CNBC Awaaz and CNN-IBN) and entertainment channels (Colors, Vh1, MTV, Nick) continued to be leaders in their respective genres says the company. Network18’s digital properties Moneycontrol and Bookmyshow continued to be market leaders. Moneycontrol launched new Android and iOS versions of Moneycontrol App during the quarter.

Latest Reads

https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/10/18/zee5.jpg?itok=f3WsjIB0
ZEE5 to stream 'Bhram' on October 24

MUMBAI:  The OTT giant ZEE5 is coming out with a new series titled 'Bhram' which will be a one of its kind psychological thriller with an extra topping of horror. 2019 is the year that has seen Indian cinema progress to greater heights not just in mainstream cinema but even in the OTT space. ZEE5...

iWorld Over The Top Services
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/10/18/nikhil.jpg?itok=tw0uHXsb
Nikhil Gandhi moves to TikTok from Times Network

MUMBAI: TikTok has appointed Nikhil Gandhi as Tiktok India head. In his new role Gandhi will be responsible development and operation of TikTok India. Prior to the new appointment, Gandhi was associated with Times Network as President and COO. Gandhi has over 20 years of experience in leadership...

iWorld Social Media
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/10/18/snapdeal.jpg?itok=J6VnH-uO
Snapdeal witnessed 50% growth over last year from two Diwali sale editions

MUMBAI: Snapdeal, one of India’s largest value-focused online marketplaces, concluded the first two of its Bharat-focused Diwali sales on a high note. Snapdeal witnessed a 50 per cent growth over last year from the first two sale editions of this year and is confident of the momentum continuing in...

iWorld e-commerce
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/10/17/sachin.jpg?itok=tzqdFe5S
Sachin, Sehwag to open for India again

MUMBAI: Master Blaster Sachin Tendulkar, one of the most fearsome opening batsman of all time Virender Sehwag, the legendary West Indian Brian Lara, lethal Aussie speedster Bret Lee, one of Sri Lanka’s most stylish and dependable batsman of all time Tillakaratne Dilshan and the one and only, who...

iWorld Over The Top Services
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/10/17/sacred-games-2.jpg?itok=Uod5pUBv
Netflix’s mobile-only plan in India exceeds expectations; to help invest more in content

Netflix has bounced back in its Q3 2019 financials by posting revenue of $5.245 billion, which was almost in line with analysts’ prediction of $5.25 billion and was up by 31 per cent y-o-y. While the expected earnings per share were $1.04, Netflix boosted that by delivering $1.47. This is almost...

iWorld Over The Top Services
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/10/17/1.jpg?itok=upOxDFu0
Ali Hussein promoted to CEO at Eros Now

MUMBAI: Ali Hussein has been elevated to the post of chief executive officer (CEO) at Eros Now, the digital arm of Eros International PLC. Hussein joined the organisation as chief operating officer in 2018. His experience spans over 15 years in the media entertainment and digital space. Ali has...

iWorld Over The Top Services
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/10/17/zee5.jpg?itok=u_rdJ2L2
ZEE5 and Wework host discussion on changing landscape of the digital world

MUMBAI: Addressingthe rapidly evolving digital ecosystem in India, ZEE5 India and WeWork India today co-created an evening of discussions on the Changing Landscape of the Digital World.Tarun Katial, CEO – ZEE5 India, India’s fastest growing ConTech brand, and Ryan Bennett, CWeO of WeWork India,...

iWorld Over The Top Services
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/10/16/shemaroo.jpg?itok=atyubwGc
ShemarooMe’s platform design gets recognized at ‘India’s Best Design Awards 2019’

MUMBAI: Shemaroo’s video-streaming OTT platform- ShemarooMe's design has bagged India’s Best Design Project 2019 award at the recently concluded ‘India’s Best Design Awards 2019’ organized by Indi Pool for the work done by Fractal Ink Design Studio on its user interface and experience. The award is...

iWorld Over The Top Services
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/10/16/rohit.jpg?itok=id4qqfpn
VICE Media Group taps Rohit Tugnait as Commercial Director, India

MUMBAI: VICE Media Group, the world’s largest independent youth media company, is pleased to announce the appointment of senior media executive Rohit Tugnait as Commercial Director for its India territory.  Tugnait will lead the commercial teams based in Mumbai, Bangalore and Delhi and will be...

iWorld Over The Top Services

Sign up for our Newsletter

subscribe for latest stories