Mumbai (Maharashtra): Reliance Industries Limited (RIL) achieved consolidated revenue of Rs 659,205 crores ($ 87.1 billion), an increase of 5.4 per cent as compared to Rs 625,212 crore in the previous year. Increase in revenue is primarily on account of higher revenues from the Consumer businesses.
“Digital Services business and the Retail business recorded an increase of 40.7 per cent and 24.8 per cent respectively, in revenue as compared to the previous year. Revenues for the Refining and Petrochemicals business declined in line with fall in average oil and product prices for the year,” said RIL in a release.
During the 4Q Financial Year 2019-20, the pandemic outbreak also impacted the Petrochemical segment with demand slowdown in most end-use markets including consumer discretionary and packaging demand, read the release.
“While RIL maintained near-normal utilization at all major facilities, gradual resumption of economic activity in the coming months is expected to aid demand recovery for fuels and petrochemical products. non-grocery retail business was impacted by nation-wide lockdown,” it added.
“Retail segment operated most of its food and grocery formats in consonance with local directives. Retail grocery stores ensured the supply of essential goods and other items of daily use to consumers. Retail business leveraged its network of collection centres and actively engaged with key suppliers to ensure priority supplies and assured quantity of essentials,” it read.
Digital Services ensured uninterrupted connectivity for families, businesses and government agencies; further enabling health-care at home, work from home and learn from home under its “Corona Haarega, India Jeetega” initiative. (ANI)
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