Reliance Industries Limited - strong quarterly numbers and turnaround of Jio and Retail business.

Reliance Industries Limited (RIL) is an Indian conglomerate holding company headquartered in Mumbai, Maharashtra, India. 

Reliance owns businesses across India engaged in energy, petrochemicals, textiles, natural resources, retail, and telecommunications. 

Reliance is one of the most profitable companies in India, the largest publicly traded company in India.

On 18 October 2007, Reliance Industries became the first Indian company to breach $100 billion market capitalization.

The company is ranked 148th on the Fortune Global 500 list of the world's biggest corporations as of 2018.

Today, the company reported a consolidated profit after tax of Rs 10,104 crore for the June quarter, up 6.8 percent from a year ago beating street expectations. 

More important are the many business turnarounds

a) Reliance Jio Infocom Limited :  Reliance Jio registered a healthy growth with profit growing 6.1 percent sequentially to Rs 891 crore. It also reported a subscriber base of 331.3 million in the first quarter against analyst expectations of 306.7 million. The subscriber base was 332.5 million in the quarter ended March 2019.

b) Reliance Retail  :  Reliance Retail saw 47.5% increase in revenue to ₹38,196 crore from ₹25,890 crore a year earlier. Segment operating profit rose 66.2% to ₹1,777 crore from ₹1,069 crore during the period under consideration.

RIL said on Friday it has entered into an agreement with Brookfield Infrastructure Partners Lp for investments of₹25,215 crore in Tower Investment Trust.

RIL will get ₹12,000 crore from the transaction, which will be used to repay the existing financial liabilities of the tower business, said Jio.

Clearly some of the best seem to be turning around and if they really do then Reliance's ability to generate cash profits can grow by leaps and bounds. 

Surely a stock to watch out for!

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