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<ul><li><keyword id="19896911" type="General" weightage="20" keywordseo="Reliance-Jio" source="keywords" meta.keywordsubtype="org" meta.entityname="Reliance Jio" meta.hostid="261" meta.entityid="Reliance Jio">Reliance Jio</keyword> has become the world's largest mobile operator in terms of data traffic.</li><li>The total traffic on the <keyword id="2003276" type="General" weightage="20" keywordseo="jio" source="Orion">Jio</keyword> network has reached 40.9 Exabytes, marking a 35.2 per cent year-on-year increase.</li><li>This surge is attributed to the growing adoption of <keyword id="19916120" type="General" weightage="20" keywordseo="5G" source="keywords">5G</keyword> and Home services.</li></ul>Reliance Jio, the telecom giant of India, has become the world's largest mobile operator in terms of data traffic, surpassing <keyword id="20669190" type="General" weightage="20" keywordseo="China-Mobile" source="keywords" meta.keywordsubtype="org" meta.entityname="China Mobile" meta.hostid="261" meta.entityid="China Mobile">China Mobile</keyword>. The announcement came on Monday as Jio revealed its quarterly results, showcasing staggering numbers and milestones achieved in various segments. As of March 2024, Jio boasts a subscriber base of 481.8 million, out of which 108 million subscribers are on Jio's True5G Standalone network. The number reflects Jio's stronghold in the Indian telecom market. According to a press release, the total traffic on the Jio network has reached 40.9 Exabytes, marking a 35.2 per cent year-on-year increase. This surge is attributed to the growing adoption of 5G and Home services. Notably, 28 per cent of the traffic comes from 5G subscribers, indicating a swift transition towards next-generation connectivity. Additionally, Jio's Fixed Wireless Access (FWA) services have contributed significantly to the data traffic. Since the onset of the COVID-19 pandemic, there has been a dramatic 2.4x increase in annual data traffic, with per capita monthly data usage skyrocketing to 28.7 GB from just 13.3 GB three years ago. This surge underscores the growing reliance on digital connectivity in India. Commenting on the results, <keyword id="3820" type="General" weightage="20" keywordseo="Mukesh-Ambani" source="Orion">Mukesh Ambani</keyword>, Chairman and Managing Director of Reliance Industries Limited, expressed his satisfaction with the company's performance and its contribution to the Indian economy. He highlighted the significant achievements, including becoming the first Indian company to cross the Rs 100,000-crore threshold in pre-tax profits. Ambani said, "Initiatives across RIL's businesses have made a remarkable contribution towards fostering growth of various sectors of the Indian economy. It is heartening to note that alongside strengthening the national economy, all segments have posted a robust financial and operating performance. This has helped the Company achieve multiple milestones. I am happy to share that this year, Reliance became the first Indian company to cross the Rs 100,000-crore threshold in pre-tax profits." Ambani also emphasized Jio's role in driving the digital transformation in India, from upgrading 2G users to smartphones to leading the effort in producing AI-driven solutions. He noted, "With over 108 million True 5G customers, Jio truly leads the 5G transformation in India. From upgrading the hitherto 2G users to smartphones, to leading the effort of producing AI-driven solutions, Jio has proved its capability in strengthening the nation's digital infrastructure." He reiterated Jio's commitment to strengthening the nation's digital infrastructure and its continued efforts to provide innovative solutions to consumers. The company's retail arm, Reliance Retail, also showed robust growth, with a 36 per cent increase in footfalls and strong digital commerce platforms offering a broad brand catalogue. "Reliance Retail continued to provide customers endless choices through its robust omni-channel presence. We continue to offer product differentiation and superior offline experience through stores remodelling and revamping of layouts. Our digital commerce platforms also provide newer solutions to users with a broad brand catalogue. Reliance Retail also works towards strengthening millions of merchants through its unique initiatives in new commerce space", said Ambani. In addition to its telecom and retail segments, Reliance Industries Limited has shown resilience in its Oil to Chemicals (O2C) segment, despite challenging market conditions. The KG-D6 block has achieved significant production milestones, accounting for 30 per cent of India's domestic gas production. Ambani emphasised, "Strong demand for fuels globally, and limited flexibility in refining system worldwide, supported margins and profitability of the O2C segment. Downstream chemical industry experienced increasingly challenging market conditions through the year." He added, "Despite headwinds, maintaining leading product positions and feedstock flexibility through our operating model that prioritises cost management, we delivered a resilient performance. The KG-D6 block has achieved 30 MMSCMD of production and now accounts for 30 per cent of India's domestic gas production." In terms of financial performance, Reliance Jio has achieved several remarkable milestones. The consolidated EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) at Rs 178,677 crore, while the consolidated Profit Before Tax (PBT) has surpassed Rs 100,000 crore. The company's market capitalization has crossed Rs 20,00,000 crore, further solidifying its position as one of India's most valuable companies. SEE ALSO:<a href="https://www.businessinsider.in/tech/mobile/news/google-pixel-8a-may-be-more-expensive-than-its-predecessor-as-per-a-new-leak/articleshow/109499394.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/google-pixel-8a-may-be-more-expensive-than-its-predecessor-as-per-a-new-leak/articleshow/109499394.cms" target="_blank">Google Pixel 8a may be more expensive than its predecessor, as per a new leak</a><a href="https://www.businessinsider.in/stock-market/news/vodafone-idea-fpo-allotment-how-to-check-allotment-gmp-and-more/articleshow/109504341.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/news/vodafone-idea-fpo-allotment-how-to-check-allotment-gmp-and-more/articleshow/109504341.cms" target="_blank">Vodafone Idea FPO allotment – How to check allotment, GMP and more</a><a href="https://www.businessinsider.in/business/telecom/news/telecom-companies-may-hike-tariffs-by-up-to-17-after-the-general-elections-as-per-analysts/articleshow/109240274.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/telecom/news/telecom-companies-may-hike-tariffs-by-up-to-17-after-the-general-elections-as-per-analysts/articleshow/109240274.cms" target="_blank">Telecom companies may hike tariffs by up to 17% after the general elections, predict analysts</a>

Reliance Jio emerges as World's largest mobile operator in data traffic, surpassing China mobile

The <keyword id="6355809" type="General" weightage="20" keywordseo="NCLT" source="Orion">NCLT</keyword> has granted <keyword id="375475" type="General" weightage="20" keywordseo="Future-Retail" source="Orion">Future Retail</keyword> Ltd (FRL) an extension of 90 days for concluding the <keyword id="5961445" type="General" weightage="20" keywordseo="Corporate-Insolvency-Resolution-Process" source="Orion">Corporate Insolvency Resolution Process</keyword> (CIRP) of the company. Allowing FRL's plea the Mumbai bench of the National Company Law Tribunal (NCLT) has extended the deadline to July 15, 2023, for concluding the CIRP of FRL. "... NCLT on April 13, 2023, heard the application and granted the said exclusion of 90 days from CIRP of FRL and consequent extension for completion of CIRP till July 15, 2023," said a regulatory filing from the company. This order was pronounced orally by NCLT on April 13, 2023, and a "written order is awaited", FRL added. The CIRP was initiated against FRL by NCLT on July 20, 2022, following loan default. The Insolvency and Bankruptcy Code (IBC) time frame for resolution is 330 days, inclusive of the time taken for litigation. As per Section 12(1) of the Code, the CIRP shall be completed within a period of 180 days from the date of initiation. However, NCLT may grant a one-time extension of 90 days. The maximum time within which CIRP must be mandatorily completed, including any extension or litigation period, is 330 days. Last week, FRL informed that they have received an Expression of Interest (EoI) from 49 players, including <keyword id="10926" type="General" weightage="20" keywordseo="Reliance" source="Orion">Reliance</keyword> Retail, Jindal Power Ltd and <keyword id="6367820" type="General" weightage="20" keywordseo="Adani-Group" source="Orion">Adani Group</keyword> for acquiring the assets of FRL. On March 23, 2023, the resolution professional (RP) of FRL invited new expressions of interest, where prospective buyers can bid for the debt-ridden firm "as a going concern or individual cluster or a combination of clusters of its assets", as it failed to attract a resolution plan in over four months. Earlier, it had received EoI and finalised 11 prospective bidders, including Reliance and April Moon Retail, but could not get a resolution plan despite two extensions in the deadline for submissions. The Committee of Creditors had provided two options in the EoI, for which the last date for submission was April 7, 2023. In the first option, the Prospective Resolution Applicant (PRA) could bid for the acquisition of Future Retail as a whole, including its shareholding interest in its subsidiaries. While under the second option, Future Retail's business has been distributed in five clusters diving business, in which PRAs can bid for "any individual cluster or any combination of clusters." As per the invitation, FRL currently has access to 302 leased retail stores spread across 23 states and Union Territories, consisting of 30 large format stores such as <keyword id="6357823" type="General" weightage="20" keywordseo="Big-Bazaar" source="Orion">Big Bazaar</keyword> and <keyword id="17144190" type="General" weightage="20" keywordseo="FBB-stores" source="Orion">FBB stores</keyword> and 272 small format stores. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/science/health/news/even-mild-covid-infection-can-cause-sudden-hearing-loss-study/articleshow/99488945.cms">Even mild Covid infection can cause sudden hearing loss: Study</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/science/health/news/pfizers-new-bivalent-mrna-covid-booster-vax-highly-effective-lancet/articleshow/99488979.cms">Pfizer's new bivalent mRNA Covid booster vax highly effective: Lancet</a>

NCLT grants 90 days extension to Future Retail for concluding insolvency

<ul><li>ukesh Ambani wants to scale <keyword id="58448" type="COMPANY" weightage="20" keywordseo="Reliance-Retail">Reliance Retail</keyword> among the top ten retailers globally.</li><li>Goldman Sachs has valued Reliance Retail at $88 billion and expects it to clock $44 billion in sales by 2025.</li><li>However, the company will continue to be the worst impacted subsidiary of <keyword id="6484187" type="COMPANY" weightage="20" keywordseo="ril">RIL</keyword> in Q1 of FY22 due to the pandemic.</li></ul>Reliance Retail continues to be an undisrupted leader in the organised retail segment with a scale that is more than six times the next competitor, <keyword id="6355199" type="ORGANIZATION" weightage="20" keywordseo="reliance-industries">Reliance Industries</keyword> chairperson and managing director Mukesh Ambani had said in the company’s 44th Annual General Meeting held last month. One in every eight Indian shops with Reliance Retail, Asia’s richest man added. Now, Ambani has set the target to be among the top ten retailers globally in the coming years. He projected a three fold growth for the retail business in the next three-five years. Even analysts believe that Reliance Retail could be among the biggest growth drivers for <keyword id="45442" type="COMPANY" weightage="20" keywordseo="Reliance-Industries-Limited">Reliance Industries Limited</keyword> in the long run. But the first quarter of the financial year 2022 (FY22) is not going to be a part of this picture. Analysts believe that Reliance Retail is going to face the worst impact of the second wave of COVID-19 that led to lockdown and restrictions across the country. <div type="image" title="Reliance Retail, the cash cow for Mukesh Ambani’s RIL, may be hit by the second wave of the pandemic" msid="84648255" hostid="261"></div> According to global financial services group <keyword id="6354527" type="UNKNOWN" weightage="20" keywordseo="nomura">Nomura</keyword>’s report published on July 19, Reliance Retail’s revenue would drop 23% and EBITDA [earnings before interest, taxes, depreciation, and amortisation] would fall another 30% in April-June quarter compared to the last quarter of FY2021 (January to March). The company’s EBITDA margin would be at 7.1%, compared to 7.9% in the fourth quarter of the last financial year, due to lower contribution from fashion and lifestyle, the report added. Reliance Retail had reported a revenue of ₹1,53,818 crore, which is almost a third of Reliance Industries Limited’s ₹5,39,238 crore consolidated revenue. The retail unit reported a post-tax profit of ₹5,481 crore in FY21. The company EBITDA was at an all-time high in the fourth quarter of FY21. SEE ALSO <a href="https://www.businessinsider.in/business/news/byjus-acquires-us-based-epic-plans-to-invest-1-billion-in-the-north-american-market/articleshow/84612303.cms">BYJU's acquires another American startup, plans to spend $1 billion on US expansion</a> <a href="https://www.businessinsider.in/tech/news/youtube-is-testing-shopping-feature-on-live-streams-for-select-creators/articleshow/84628204.cms">YouTube is testing shopping feature on live streams for select creators</a>

Reliance Retail, the cash cow for Mukesh Ambani’s RIL, may be hit by the second wave of the pandemic

<ul><li>Analysts believe that <keyword id="3820" type="General" weightage="20" keywordseo="mukesh-ambani" source="Orion">Mukesh Ambani</keyword>’s <keyword id="6355199" type="General" weightage="20" keywordseo="reliance-industries" source="Orion">Reliance Industries</keyword> could end the financial year 2021-22 on a high.</li><li>A continuation in the earnings upcycle is expected as chemical prices are rising, broadband subscribers are picking up, online retail gains traction and new energy investment picks up steam.</li><li>Shares of RIL have gained nearly 10%, outperforming benchmark index Sensex that tumbled nearly 6% so far in 2022.</li><li>The stock will remain in focus as investors await the firm’s March quarter earnings that is scheduled on May 6, Friday.</li></ul>Reliance Industries could bring cheer to its investors with the March earnings scheduled to be announced later today (May 6) as analysts believe the Mukesh Ambani-led company is looking at growth in three of its key businesses — refining, retail and telecom. Reliance Industries’ shares will be in focus as investors await the firm’s March quarter earnings that is scheduled on May 6, Friday. <div type="image" title="RIL chart 5" height="900" width="1200" msid="91356059" hostid="261"></div>Reliance Industries could see earnings upcycle as chemical prices are rising, broadband subscribers are picking up, online retail gains traction and new energy investment picks up, according to a report by Morgan Stanley as it states “an earnings upgrade cycle is taking hold and is key to reversing RIL's past year of underperformance.” Analysts at Yes Securities second the views as they say Reliance Industries is expected to report improvement in its earnings — on both quarterly and annual basis — on account of stronger refining margins. The revenue, however, would face a partial offset due to weaker margins in petrochemicals. Also read: <a href="https://www.businessinsider.in/business/telecom/news/reliance-jio-could-post-a-blockbuster-5000-crore-profit-in-the-march-quarter-say-analysts/articleshow/91316654.cms">https://www.businessinsider.in/business/telecom/news/reliance-jio-could-post-a-blockbuster-5000-crore-profit-in-the-march-quarter-say-analysts/articleshow/91316654.cms</a> Retail and telecom to drive Reliance’ growth, with refining gains offset by rising crude oil prices This would be the seventh quarter of sequential improvement in Reliance’ earnings. In the March quarter, refining and telecom are expected to drive growth with some offsets from the petrochem side, say analysts. In fact, <keyword id="6354504" type="General" weightage="20" keywordseo="reliance-jio" source="Orion">Reliance Jio</keyword> could post a <a href="https://www.businessinsider.in/business/telecom/news/reliance-jio-could-post-a-blockbuster-5000-crore-profit-in-the-march-quarter-say-analysts/articleshow/91316654.cms">blockbuster ₹5,000 crore profit</a> in the March 2022 quarter. Analysts are gung-ho about the telecom sector’s performance in the March 2022 quarter. Analysts say that the telecom segment is expected to benefit from higher average revenue per user (ARPU) realisation whereas the retail segment would reap the benefits of sales traction driven by growth in network. Notably, RIL has invested more than <a href="https://www.businessinsider.in/retail/news/asias-richest-man-mukesh-ambani-is-on-a-shopping-spree-for-private-fashion-labels/articleshow/90439055.cms">$1 billion in acquiring assets and building capabilities</a> of <keyword id="58448" type="General" weightage="20" keywordseo="reliance-retail" source="Orion">Reliance Retail</keyword>. Also read: <a href="https://www.businessinsider.in/retail/news/reliance-industries-retail-business-could-reach-new-heights-all-thanks-to-increased-investments-and-muted-covid-wave/articleshow/91312838.cms">https://www.businessinsider.in/retail/news/reliance-industries-retail-business-could-reach-new-heights-all-thanks-to-increased-investments-and-muted-covid-wave/articleshow/91312838.cms</a> “With rising penetration and market share wins ahead in consumer businesses (telecom tech and retail), we see the medium term growth story remaining intact as well,” said Goldman Sachs. Besides, recently the stock has been rising on hopes of its new hydrogen energy segment. Reliance best positioned to capitalise on hydrogen (new energy) segment Global investment banking firm Morgan Stanley expects the hydrogen segment of RIL to contribute 10% to its earnings with a net asset value of $10 billion by the end of this decade (by 2030). Analysts at Morgan Stanley believe <a href="https://www.businessinsider.in/business/corporates/news/analysts-up-mukesh-ambanis-ril-target-price-by-over-20/articleshow/90981139.cms">hydrogen adoption plans </a>are quickly progressing in India in line with global peers, which makes RIL best positioned to capitalise on this segment. “For RIL, strong cash flow generation in the best in class old energy business (low cost structure and highest complexity) can fund the capex of the New Energy business and in turn drive one of the fastest and most profitable net zero transitions by 2035 amongst large energy companies, on our analysis,” said analysts at Goldman Sachs. <div type="javascript" title="Custom" contenttype="Image"><cdata><![CDATA[]]></cdata></div> SEE ALSO: <a href="https://www.businessinsider.in/business/telecom/news/reliance-jio-could-post-a-blockbuster-5000-crore-profit-in-the-march-quarter-say-analysts/articleshow/91316654.cms">Reliance Jio could post a blockbuster ₹5,000 crore profit in the March quarter, say analysts</a> <a href="https://www.businessinsider.in/retail/news/reliance-industries-retail-business-could-reach-new-heights-all-thanks-to-increased-investments-and-muted-covid-wave/articleshow/91312838.cms">Reliance Retail could touch new heights thanks to a muted third wave of COVID-19 and increased investments</a>

Reliance Industries could see an earnings boost driven by its three pillars — refining, retail and telecom

Leading homegrown robotics company <keyword id="10869180" type="General" weightage="20" keywordseo="addverb" source="Orion">Addverb</keyword> Technologies on Tuesday said that Reliance is investing up to $132 million in the company to become its largest shareholder. The funding will accelerate its expansion in Europe and the US, enabling Addverb to set up the biggest robotic manufacturing facility at a single location. Addverb said that it plans to start an innovation lab with bases in Europe, the US and India to solve the complex problems in the field of human-robotic collaboration. "We deploy 10 per cent of our revenue on R&amp;D which has played a pivotal role in helping us create an extensive product portfolio. With growing urbanisation and the onset of Covid, companies are transforming supply chains across industries and robotics will play a critical role in making these supply chains more agile and flexible," said Sangeet Kumar, CEO and Co-founder, Addverb Technologies. Addverb earlier raised around $11 million led by Jalaj Dani, co-promoter of Asian Paints, making its total funding close to $143 million since its inception in June 2016. "Reliance was already one of our esteemed clients with whom we had co-created and delivered highly automated warehouses for their Jio-Mart grocery business," Kumar informed. "This strategic partnership will help us leverage 5G, battery technology through new energy initiatives, advances in material sciences (carbon fibre) to deliver more advanced and affordable robots," he added. The association will also provide the company an opportunity to deploy robots at scale in omni-channel distribution centres across different segments. "With this round of funding we are planning to deploy our robots across hospitals and airports," the company informed. Addverb Technologies is based in Noida. It has developed highly automated warehouses for brands such as Reliance, Flipkart, HUL, Asian Paints, Coca-Cola, Pepsi, ITC, Marico and others. Addverb has a capacity to manufacture a variety of 10,000 robots of various kinds at its manufacturing facility in Noida that was inaugurated by Niti Aayog CEO Amitabh Kant in March last year. SEE ALSO: <a href="https://www.businessinsider.in/budget/news/decline-in-car-bike-and-scooter-sales-is-now-hurting-hdfc-bank/articleshow/88960539.cms">Shrinking car and two-wheeler sales is now hurting India’s biggest private bank</a> <a href="https://www.businessinsider.in/careers/news/8-in-10-people-are-looking-to-switch-jobs-in-2022-linkedin-says/slidelist/88966651.cms">8 in 10 Indians are looking to switch jobs in 2022</a>

Reliance Retail buys 54% stake in robotics firm Addverb Tech for $132 million

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Reliance Jio emerges as World's largest mobile operator in data traffic, surpassing China mobile

ANI

NCLT grants 90 days extension to Future Retail for concluding insolvency

PTI

Reliance Retail, the cash cow for Mukesh Ambani’s RIL, may be hit by the second wave of the pandemic

Kritti Bhalla

Reliance Industries could see an earnings boost driven by its three pillars — refining, retail and telecom

Bhakti Makwana

Reliance Retail buys 54% stake in robotics firm Addverb Tech for $132 million

IANS

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