After being hit by the pandemic last year and the second wave this year, the Indian economy has been growing slowly but gradually. There are many companies that have reported losses in their first quarterly report for 2021, while many have doubled their profits compared to last year.

Reliance Industries Ltd. (RIL), for example, has also managed to double its net profit between January and March of this year compared to the profit obtained last year in the same quarter. In particular, many of Reliance’s businesses have not been running.

For example, the Oil to Chemicals vertical saw 4.5% revenue growth, however, profits declined to the same extent despite a one-time gain of ₹ 4,420 crore from the sale of its oil pumps. gasoline.

While, Trust Jio has reported a profit decline of almost 4% with a net profit of ₹ 3,508 crore. To add, Jio has reported more than 15 million new subscribers between January and March. But this may not benefit the company in the long run. According to many studies, it has been understood that many people regard Jio as their secondary simulator.

So how has Reliance made twice the benefits compared to the previous year?

The retail section of Reliance Industries has reportedly done quite well. On April 30, Reliance Retail, the retail arm of Reliance Industries Ltd (RIL), reported a 45 percent year-on-year increase in its net profit of Rs 2,247 crore by the end of the first quarter of 2021.

The company’s revenue for the period stood at Rs 47,064 crore, which was up 23.2 percent compared to last year.

The company said in a press release: “Reliance Retail offers resilient performance in the context of an unprecedented and challenging operating environment, arising out of the COVID pandemic situation that emerged earlier in the year.”

Despite the pandemic, Reliance Retail opened 1,456 stores in the year, bringing the total number of outlets to more than 12,000, covering more than 33 million square feet. However, Due to COVID19 restrictions, the company witnessed 65 percent of footfalls compared to last year, while only 80 percent of its stores were operational.

Reliance Trends’ small-town revenue has doubled over the year. This contributes about 50 percent of the brand’s sales. The company further reported that it has also integrated around 400 Reliance Trends Stores with JioMart.

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