India’s Reliance Industries has posed a 14.8% of a single year for the 3rd quarter, This is worth Rs.240,963 crore ($29.1 billion). This has a profit of Rs.17,806 crore which os 0.6% of the YoY.
The lower margin has a delta chain has declined with lower margins in monoethylene and polyester due to the slow demand stream during the COVID-19 period. The PTA markets remained muted due to the downstream recovery.
As it is the time of recovery from the COVID-19 period, the demand for polyester is set to improve with the wedding season in the domestic China region. The retail revenue is worth Rs.67,623 crore which is 17.2% of the total revenue.
RIL has set a record for the highest ever foot worth Rs.201 million across formats and geographics in FY 2023. RIL has also strengthened the product and the acquisitions of Centro footwear, now known as V Retail.
According to Mukesh Ambani, Managing Director, Reliance Industries, “Our teams across businesses have done an excellent job in delivering strong operating performance through a challenging environment. All segments contributed to the robust growth in consolidated EBITDA on YoY basis,”