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Last Updated : Jun 08, 2018 02:38 PM IST | Source: Reuters

Reliance aims to raise consumer businesses' profits

RIL is aiming to raise the level of its profits from consumer-facing businesses such as retail and telecoms to that of its core energy operations, the company has said in its annual report.

India's Reliance Industries is aiming to raise the level of its profits from consumer-facing businesses such as retail and telecoms to that of its core energy operations, the company said in its annual report on Thursday.

Reliance, which launched telecoms venture Jio in late 2016, will continue to evaluate and deploy wire line and wireless technologies for business solutions to consumers and enterprises, Chairman Mukesh Ambani, India's richest man, said in a letter to shareholders.

Reliance is set to become one of the largest non-conventional gas producers in India through the production of coalbed methane, Ambani said.

The company, however, sounded a note of caution about its U.S. shale gas business, saying the business environment was challenging.

Disclaimer: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.
First Published on Jun 7, 2018 06:31 pm
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