Reliance Industries Q3 result: Nobody believed in Mukesh Ambani‘s abilities in building consumer- focused businesses until about four years back. Reliance Retail had been struggling to find a place in the midst of unorganised retailers at that time. The launch of telecom business, Reliance Jio had been reaching nowhere as analysts believed Ambani could not crack into the telecom market, which is dominated by Bharti Airtel and Vodafone.
All those doubts on the ability of the richest Indian soon vanished into thin air. For instance, according to the third quarter number, the steep fall of Reliance Industries‘ (RIL) petrochemical earnings has been offset by the jump in retail volume and telecom subscriber base. RIL’s earnings before interest, depreciation, taxes and amortization (segment EBIDTA) increased 4.7 per cent to Rs 23,500 crore year-on-year (YoY). Out of that, the consumer business contributed 37 per cent or Rs 8,695 crore. It was 26 per cent a year back. In the third quarter, when the petrochemical EBIDTA fell by Rs 2,344 crore, the same from consumer businesses surged by Rs 2,815 crore.