Reliance Retail and Reliance Jio will be “hyper growth platforms” for the Mukesh Ambani-led conglomerate in the next 10 years — which the company calls its golden decade.
Reliance IndustriesBSE 1.89 % sees robust and sustainable growth in both consumer-facing sectors, apart from strong cash flows from its flourishing core businesses of energy and petrochemicals, as it reaps rewards of ambitious capital expenditure in recent years, it said in a presentation after the quarterly earning.“The golden decade has begun. Reliance Retail and Reliance Jio (are) hyper growth platforms. Annuity cash flows from energy and materials businesses,” it said.
Reliance Industries’ net profit, which crossed Rs 9,000 crore in the June quarter, has so far depended heavily on its core businesses of refining and petrochemicals, which are enjoying high margins, but its retail segment has already started making a healthy contribution to turnover. The company said its fuel retail business was also growing rapidly, with average sales higher than rivals and good credibility as it did not have a single complaint of malpractices, such as tampering at pumps.