MENU

Published on 31/10/2020 11:50:21 AM | Source: PR Agency

RIL (Q2 FY2020-21) Financial and Operational Performance By Reliance Industries

Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel  https://t.me/InvestmentGuruIndia 

Download Telegram App before Joining the Channel

STRATEGIC UPDATES

* Jio Platforms Limited, a wholly owned subsidiary of Reliance Industries Limited, raised ₹ 152,056 crore from leading global investors including Facebook, Google, Silver Lake, Vista Equity Partners, General Atlantic, KKR, Mubadala, ADIA, TPG, L Catterton, PIF, Intel Capital and Qualcomm Ventures.

* Reliance Retail Ventures Limited (RRVL), a wholly owned subsidiary of Reliance Industries Limited, raised ` 37,710 crore of investments from leading global investors including Silver Lake, KKR, General Atlantic, Mubadala, GIC, TPG and ADIA.

* RRVL has entered into an agreement to acquire retail & wholesale business and the logistics & warehousing business of the Future Group for a consideration of ` 24,713 crore. This acquisition is subject to SEBI, CCI, NCLT, shareholders, creditors and other requisite approvals.

* RRVL acquires majority stake in leading digital pharma market place “Netmeds” for a consideration of ~ ` 620 crore.

* Qualcomm Technologies, Inc. and Jio Platforms Limited (Jio) along with its wholly owned subsidiary Radisys Corporation announced expanded efforts to develop open and interoperable interface compliant architecture based 5G solutions with a virtualized RAN. This work is intended to fast track the development and roll out of indigenous 5G network infrastructure and services in India.

* The Company supported job creation in the economy during the pandemic-impacted period and generated in excess of 30,000 new jobs during April – September 2020 in Consumer businesses and last mile delivery.

 

Commenting on the results, Mukesh D. Ambani, Chairman and Managing Director, Reliance Industries Limited said: “We delivered strong overall operational and financial performance compared to previous quarter with recovery in petrochemicals and retail segment, and sustained growth in Digital Services business. Domestic demand has sharply recovered across our O2C business and is now near pre-Covid level for most products. Retail business activity has normalised with strong growth in key consumption baskets as lockdowns ease across the country. With large capital raise in last six months across Jio and Retail business, we have welcomed several strategic and financial investors into Reliance family. We continue to pursue growth initiatives in each of our businesses with a focus on the India opportunity.”

 

To Read Complete Report & Disclaimer Click Here

 

Above views are of the author and not of the website kindly read disclaimer