Reliance Jio, Reliance Retail continue to thrive, profit, sales surge; check Q4 results highlights

Mukesh Ambani’s Reliance Jio’s fiscal fourth-quarter net profit surged almost 50% on-year to Rs 3,508 crore. Jio Revenue for the January-March quarter rose 19% on-year to Rs 18,278 crore; however, revenue fell on a sequential basis owing to lower number of days during the quarter. Meanwhile, RIL’s retail behemoth Reliance Retail reported a net profit of Rs 2,247 crore in the fiscal fourth quarter; while the revenue grew 23% on-year to Rs 46,099 crore. Business growth remained strong for the retail segment with the highest store opening reported in the period under review than all previous quarters combined.