The development comes months after the board of directors of Reliance Industries approved the appointment of Isha, Akash and Anant as non-executive directors in August this year
According to the company, Jio Infocomm has a 439.3 million subscriber base at present
Following the company’s double-digit increase in profit in the March quarter, brokerage firms have given a 'buy' rating for the company.
Reliance Industries net profit growth is expected to be 4-7% QoQ inQ4, according to research firms
RIL has boasted its oil business as the crown jewel, but the financial figures of its data operations, led by the Jio brand, are symbolic of the changing dynamics of India's bellwether company.
The aim is to add a million in headcount in three years, primarily in the retail arm, as the company transforms itself into an enterprise that now includes two mega consumer and technology businesses.
The oil-to-telecom behemoth has created a strong balance sheet that supports growth plans for three hyper-growth engines—Jio, Retail, and O2C. And as part of CSR, it’s also in the healthcare space.
The oil-to-telecom conglomerate is trying its best to deal with the second wave of Covid-19-induced disruptions in its retail operations. But it will be difficult for Reliance Retail to escape unhurt.
The surge in Coronavirus cases across the country threatens to derail the growth reported by consumer-focussed companies in the March quarter.
The Mukesh Ambani-led cash-rich giant is all set to carve out its traditional oil-to-chemicals business into an independent subsidiary, and create a holding structure by itself.
