Latest news with #MukeshAmbani-led
India.com
16 hours ago
- Business
- India.com
Big worry for LG, Whirlpool after Mukesh Ambani acquires Kelvinator... will these brands survive?
Big worry for LG, Whirlpool after Mukesh Ambani acquires Kelvinator... will these brands survive? Mukesh Ambani-led Reliance Retail Ltd has on Friday acquired Kelvinator brand which manufactures home appliances products. Notably, Reliance Retail had manufacturing and distribution rights in 2019. This new takeover will further strengthen Reliance Retail's presence in the consumer electronics market. The company is operating electronics stores under the Reliance Digital banner. But this acquisition, has got the existing players in the durable market including LG and other companies worried. Electrolux Group was a hit in the 70s and 80s This brand was very popular in India at one time. Electrolux Group entered the Indian market in 1960. The company had developed a large customer base between 1970 and 1980. At that time the tagline of this company used to be 'The Coolest One'. In 1995, Whirlpool of India Ltd acquired Kelvinator India Ltd. After this acquisition, the company entered the refrigerator market. In 2019, Kelvinator re-entered the Indian market after signing a deal with Reliance Retail. Currently, it sells refrigerators, washing machines, air conditioners etc. under the Kelvinator brand. The company is selling these products with the help of Reliance Digital store network and other retailers. Let us tell you, Reliance Digital currently operates 400 stores in the country. How big is the consumer durable market? This is equal to 0.60 percent of the country's GDP. It is expected to grow at a CAGR of 11 percent. According to the report, by 2029, the size of the country's consumer durable market will be equal to 3 trillion dollars. The total turnover of Reliance Retail Limited was Rs 3,30,870 crore in FY 2025. The EBITDA of the company was Rs 25,053 crore.
Business Upturn
16 hours ago
- Business
- Business Upturn
Mukesh Ambani'S JioStar business earns more in Q1 FY26 than BCCI's entire FY25
By Aditya Bhagchandani Published on July 19, 2025, 15:30 IST Mukesh Ambani-led JioStar business — the joint venture between Reliance Industries and Walt Disney's India media operations — posted a revenue of ₹11,222 crore in the first quarter of FY26, surpassing the Board of Control for Cricket in India's (BCCI) entire income for FY25. BCCI, as per its audited annual report, earned ₹9,741.71 crore in the full financial year FY25, with the Indian Premier League (IPL) contributing ₹5,761 crore to its coffers. Other streams of income for BCCI included ₹1,042 crore from ICC distributions, ₹813 crore from media rights, ₹377 crore from the Women's Premier League (WPL), ₹361 crore from men's international matches, and about ₹986 crore as interest income. In contrast, JioStar generated ₹11,222 crore in just the April–June 2025 quarter, with the IPL 2025 season being the biggest growth driver for its business. The company also posted an EBITDA of ₹1,017 crore, with its digital platform JioHotstar achieving a subscriber base of 287 million during the IPL and reaching over 800 million viewers on TV. According to Reliance Industries, IPL 2025 delivered record-breaking viewership with 1.19 billion viewers across TV and JioHotstar. The merger of JioCinema and Disney+ Hotstar into JioHotstar earlier this year allowed JioStar to consolidate its dominance in both OTT and linear television. On the linear TV front, Star Plus retained its leadership in the Hindi general entertainment category, while regional channels like Star Pravah, Star Jalsha, and Asianet also held top positions in their respective markets. The figures highlight how the IPL has evolved into a lucrative property not just for the BCCI but even more so for broadcasters and streaming platforms. With its quarterly revenue already exceeding BCCI's full-year income, JioStar has solidified its position at the center of India's sports and entertainment economy. Ahmedabad Plane Crash Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
The Print
18 hours ago
- Business
- The Print
Reliance Industries Q1 profit jumps 78 pc to Rs 26,994 cr on better show by consumer businesses
The net profit was also 39 per cent higher quarter-on-quarter when compared to Rs 19,407 crore earnings in the preceding three months ended on March 31. The oil-to-retail-to-telecom conglomerate's consolidated net profit attributable to owners of the company stood at Rs 26,994 crore, or Rs 19.95 per share, in April-June 2025 compared to Rs 15,138 crore earnings in the year-ago period, according to an exchange filing. New Delhi, Jul 18 (PTI) India's most valuable company Reliance Industries on Friday reported its highest-ever quarterly profit of Rs 26,994 crore for the April-June quarter, reflecting a growth of 78.3 per cent over the year-ago period, driven by consumer businesses and investment sales. Revenue from operations was up by 5.26 per cent to Rs 2.48 lakh crore in the first quarter of 2025-26 compared to Rs 2.36 lakh crore in the year-ago period. Other income includes Rs 8,924 crore, being proceeds of profit from the sale of listed investments, the company stated in the filing. Billionaire Mukesh Ambani-led company continued to post an uptick in its consumer businesses — retail and telecom. While Jio was helped by a rise in consumer base, the retail business delivered steady performance due to an increase in footfalls at its expanded store network. The mainstay oil refining and petrochemicals business, called O2C, posted a 1.5 per cent decline Y-o-Y due to a fall in crude oil prices and lower volumes on account of the planned shutdown. Segment revenues were supported by increased domestic placement of transportation fuels through Jio-bp, a company statement said. RIL Chairman and Managing Director Mukesh Ambani said that Reliance has begun FY26 with a robust all-around operational and financial performance. 'Consolidated EBITDA for the first quarter of FY26 improved strongly from the year-ago period, despite significant volatility in global macros. During the quarter, energy markets encountered heightened uncertainty, with sharp fluctuations in crude prices. Our O2C business delivered strong growth, with thrust on domestic demand fulfillment and offering value-added solutions through the Jio-bp network. Performance was supported by improvement in fuel and downstream product margins,' Ambani said. Jio Platforms, the digital services business, posted a 25 per cent rise in net profit to Rs 7,110 crore in the first quarter. Its consumer base rose to 498.1 million at June end from 488.2 million at March end, and average per user revenue (ARPU) increased to Rs 208.8 from Rs 206.2. Jio Platforms' gross revenue climbed 19 per cent year-on-year (YoY) to Rs 41,054 crore in Q1 FY26, according to the earnings statement released by parent Reliance Industries. Reliance Industries noted that Jio has scaled newer heights during the quarter, including crossing 200 million 5G subscribers and 20 million home connections. 'Jio AirFiber is now the largest FWA (Fixed Wireless Access) service provider in the world, with a base of 7.4 million subscribers. Our Digital Services business consolidated its market position with a robust financial and operational performance,' Ambani said. Also aiding the business was consumers migrating to its latest offering 5G services and cricket world cup. 'Retail's business … customer base expanded to 358 million, along with significant improvement across operating metrics. We are focusing on strengthening the portfolio of own FMCG brands, which resonate with the tastes of Indian consumers,' Ambani said. Profits from retail business climbed 28.3 per cent to Rs 3,271 crore as store count rose to 19,592 from 19,340 as on March 31. Gross revenue of Reliance Retail Venture Ltd (RRVL) in the first quarter rose by 11.3 per cent to Rs 84,171 crore against Rs 75,615 crore in the same period of the previous fiscal. O2C (Oil to Chemicals) EBITDA increased by 10.8 per cent Y-o-Y due to favourable margin on domestic fuel retail, improvements in transportation fuel cracks and PP, PVC delta, the company said. The growth was partially offset by lower volumes on planned turnaround and decline in polyester chain margins. PTI PRS RKL MBI MR This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
Economic Times
a day ago
- Business
- Economic Times
Reliance Industries' Q1 consolidated profit at record Rs 26,994 crore
Live Events Healthy Telecom, Digital Showing Retail New Energy (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Mukesh Ambani-led Reliance Industries (RIL) reported a 78% rise in June quarter earnings, posting a record consolidated net profit of ₹26,994 crore, attributable to the company owners, up from ₹15,138 crore in the same period last year. Earnings were boosted by strong double-digit growth in the consumer businesses and a one-time gain of ₹8,924 crore from sale of a stake in Asian Paints . Excluding the exceptional item, profits rose 25%.Consolidated profit after tax was ₹30,681 crore, up 76% from ₹17,448 crore in the year earlier. Reliance on Friday said consolidated quarterly Ebitda and net profit were at their revenue increased by 6% to ₹2.73 lakh crore, while Ebitda rose 35.7% to ₹58,024 crore."Reliance has begun FY26 with a robust, all-round operational and financial performance," chairman and managing director Ambani said. "Consolidated Ebitda for Q1 improved strongly from the year-ago period, despite significant volatility in global macros."He added that the registered customer base of the retail businesses expanded to 358 million and that it was focusing on strengthening its portfolio of its own FMCG brands."The performance of our businesses and growth initiatives gives me confidence that Reliance will continue its stellar track record of doubling every four to five years," he stock ended nearly flat at ₹1,476.85 on Friday. Earnings were announced after market Platforms, which houses the telecom and digital units, posted a 25% year-on-year rise in first quarter net profit, boosted by the continued addition of data users. Jio Platforms ' consolidated net profit rose to ₹7,110 crore, from ₹5,698 crore a year earlier, and ₹7,022 crore in the preceding three-month period, the company said. Average revenue per user (ARPU) rose 1.3% sequentially to ₹208.8, from ₹206.2. JioStar, the media and entertainment unit, reported revenue of ₹9,904 crore and Ebitda of Rs 1,017 crore. A blockbuster IPL season helped push JioHotstar app downloads past 1 billion on Android and viewership to a record 1.19 billion across TV and JioHotstar. Monthly active users averaged over 460 retail division, which had 19,592 stores at the end of June selling grocery, consumer electronics and apparel, posted net revenue of ₹73,720 crore. Net profit rose 28% to ₹3,271 crore, while gross revenue increased 11% to ₹84,171 crore from the year previous. "Retail's business performance registered customer base expanded to 358 million, along with significant improvement across operating metrics," Ambani said. Reliance Retail 's biggest segment -consumer electronics and devices-was impacted due to the early monsoon onset but recovery is underway. It opened 388 new stores in the first quarter and had 77.6 million square feet of retail space at the end of continued to expand quick hyperlocal deliveries, posting 68% growth sequentially, and a 175% on-year surge in daily orders. Average bill value at the consumer electronics business rose 26% and conversions increased 200 basis points from the year before. AC sales, however, were hit by the rainy season starting early. In the fashion and lifestyle division, growth picked up with multiple initiatives undertaken in the last four quarters, and the emerging formats of GAP, Azorte and Yousta posting 59% growth. These account for over 170 stores. Within grocery, it saw broad-based growth across categories with home and personal care growing at 15%, fruits and vegetables at 15% and packaged foods at 13%.The consumer products business, which includes Campa and Independence, recorded sales of ₹4,400 crore during the quarter. "Reliance Retail delivered resilient performance during this quarter driven by our relentless focus on operational excellence, geographical expansion and sharper product portfolio," said Isha Ambani, executive director, Reliance Retail Ventures. "Our continued investments in cutting-edge technologies and differentiated product offerings have enabled us to serve our customers better and scale with agility."Earlier in the day, the company said it had acquired Kelvinator, a strategic move poised to amplify its leadership in India's fast-growing consumer durables oil-to-chemicals (O2C) business saw Ebitda rise 11% to ₹14,511 crore due to favourable margins on domestic fuel retail, and improvements in transportation fuel cracks. This was partially offset by lower volumes and polyester chain margins. Reliance BP Mobility's retail fuel network expanded to 1,991 outlets, outpacing industry growth. Revenue dipped 1.5% to Rs 1.55 lakh crore from a year earlier due to lower crude prices and planned maintenance Jio-bp combine expanded 35% in petrol and diesel sales in the quarter, from the year company said it will start operationalising new energy generation projects in the next four to six quarters on a full-scale basis and will be installing around 50 megawatts of modules and 175 megawatt hours of batteries each is also setting up dedicated transmission lines from Kutch to Jamnagar to get the energy to the latter site.
Time of India
a day ago
- Business
- Time of India
Reliance Industries' Q1 consolidated profit at record Rs 26,994 crore
Mukesh Ambani-led Reliance Industries (RIL) reported a 78% rise in June quarter earnings, posting a record consolidated net profit of ₹26,994 crore, attributable to the company owners, up from ₹15,138 crore in the same period last year. Earnings were boosted by strong double-digit growth in the consumer businesses and a one-time gain of ₹8,924 crore from sale of a stake in Asian Paints . Excluding the exceptional item, profits rose 25%. Consolidated profit after tax was ₹30,681 crore, up 76% from ₹17,448 crore in the year earlier. Reliance on Friday said consolidated quarterly Ebitda and net profit were at their highest. 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"Reliance has begun FY26 with a robust, all-round operational and financial performance," chairman and managing director Ambani said. "Consolidated Ebitda for Q1 improved strongly from the year-ago period, despite significant volatility in global macros." He added that the registered customer base of the retail businesses expanded to 358 million and that it was focusing on strengthening its portfolio of its own FMCG brands. "The performance of our businesses and growth initiatives gives me confidence that Reliance will continue its stellar track record of doubling every four to five years," he said. Healthy Telecom, Digital Showing RIL's stock ended nearly flat at ₹1,476.85 on Friday. Earnings were announced after market hours. Jio Platforms, which houses the telecom and digital units, posted a 25% year-on-year rise in first quarter net profit, boosted by the continued addition of data users. Jio Platforms ' consolidated net profit rose to ₹7,110 crore, from ₹5,698 crore a year earlier, and ₹7,022 crore in the preceding three-month period, the company said. Average revenue per user (ARPU) rose 1.3% sequentially to ₹208.8, from ₹206.2. JioStar, the media and entertainment unit, reported revenue of ₹9,904 crore and Ebitda of Rs 1,017 crore. A blockbuster IPL season helped push JioHotstar app downloads past 1 billion on Android and viewership to a record 1.19 billion across TV and JioHotstar. Monthly active users averaged over 460 million. Retail The retail division, which had 19,592 stores at the end of June selling grocery, consumer electronics and apparel, posted net revenue of ₹73,720 crore. Net profit rose 28% to ₹3,271 crore, while gross revenue increased 11% to ₹84,171 crore from the year previous. "Retail's business performance registered customer base expanded to 358 million, along with significant improvement across operating metrics," Ambani said. Reliance Retail 's biggest segment -consumer electronics and devices-was impacted due to the early monsoon onset but recovery is underway. It opened 388 new stores in the first quarter and had 77.6 million square feet of retail space at the end of June. JioMart continued to expand quick hyperlocal deliveries, posting 68% growth sequentially, and a 175% on-year surge in daily orders. Average bill value at the consumer electronics business rose 26% and conversions increased 200 basis points from the year before. AC sales, however, were hit by the rainy season starting early. In the fashion and lifestyle division, growth picked up with multiple initiatives undertaken in the last four quarters, and the emerging formats of GAP, Azorte and Yousta posting 59% growth. These account for over 170 stores. Within grocery, it saw broad-based growth across categories with home and personal care growing at 15%, fruits and vegetables at 15% and packaged foods at 13%. The consumer products business, which includes Campa and Independence, recorded sales of ₹4,400 crore during the quarter. "Reliance Retail delivered resilient performance during this quarter driven by our relentless focus on operational excellence, geographical expansion and sharper product portfolio," said Isha Ambani, executive director, Reliance Retail Ventures. "Our continued investments in cutting-edge technologies and differentiated product offerings have enabled us to serve our customers better and scale with agility." Earlier in the day, the company said it had acquired Kelvinator, a strategic move poised to amplify its leadership in India's fast-growing consumer durables sector. The oil-to-chemicals (O2C) business saw Ebitda rise 11% to ₹14,511 crore due to favourable margins on domestic fuel retail, and improvements in transportation fuel cracks. This was partially offset by lower volumes and polyester chain margins. Reliance BP Mobility's retail fuel network expanded to 1,991 outlets, outpacing industry growth. Revenue dipped 1.5% to Rs 1.55 lakh crore from a year earlier due to lower crude prices and planned maintenance shutdowns. The Jio-bp combine expanded 35% in petrol and diesel sales in the quarter, from the year before. New Energy The company said it will start operationalising new energy generation projects in the next four to six quarters on a full-scale basis and will be installing around 50 megawatts of modules and 175 megawatt hours of batteries each day. It is also setting up dedicated transmission lines from Kutch to Jamnagar to get the energy to the latter site.
