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Consumer Units Replace Refining As RIL’s Second-Biggest Business
The Mukesh Ambani-led firm generates a third of its operating income from consumer-focused telecom and retail businesses.
21 Oct 2019, 01:20 PM IST ![NDTV Profit](/icons/feather-without-circle.svg)
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![Mukesh Ambani, chairman of Reliance Industries in New Delhi, India. (Photographer: Prashanth Vishwanathan/Bloomberg)](https://media.assettype.com/bloombergquint%2F2019-09%2F9dc6543c-86e7-41ac-a0bb-2578c9ce0b28%2F233099374.jpg?rect=0%2C0%2C2847%2C1601&auto=format%2Ccompress&w=200)
Mukesh Ambani, chairman of Reliance Industries in New Delhi, India. (Photographer: Prashanth Vishwanathan/Bloomberg)
India’s most-valued company now relies on its consumer-facing businesses more than ever.Reliance Industries Ltd.—the first domestic company to reach Rs 9 lakh crore market capitalisation—now generates a third of its operating profit from retail and telecom units.The energy giant and the owner of the world’s largest crude oil refinery is not only India’s No. 1 retailer but also the nation’s biggest telecom operator. The combined share...
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