The oil-to-telecoms conglomerate, led by billionaire Mukesh Ambani, said on Friday consolidated profit climbed to 132.27 billion rupees ($1.79 billion) in the fourth quarter, from 63.48 billion rupees a year earlier. Analysts on average had expected a profit of 134.91 billion rupees, according to Refinitiv data.
Overall, revenue edged up 11% to 1.55 trillion rupees.
Products like Snac tac noodles and Yeah! colas are Reliance’s private label brands - and billionaire Ambani’s not-so-secret weapons as he sets his sights on dominating a grocery market that’s already worth a cool $608 billion and set to grow more than 20% by 2024, according to Forrester Research.