Reliance’s Retail business shines with strategic adjustments; Jio Platform's ARPU set to rise: Deven Choksey
«On the other side, the consumer facing businesses both the Jio platform as well as retail, Jio platform in particular I think because of the better mix as far as the customers are concerned and at the same time higher ARPU that they have been blocking have produced good numbers,» says Deven Choksey, MD, DRChoksey FinServ Pvt. Ltd.
What were you pleasantly surprised by, the refining business or the strength in the retail business?
Deven Choksey: Well, I guess, the refining business, we were very clear that the O2C business would probably have relatively better quarter compared to the second quarter.
In fact, our last second quarter's commentary also, we said very clearly that the third quarter is going to have the stable refining margins and so would be the improvement in the profit performance for Reliance. Actually, it paid out that way.
So, I am in other side, it is a good conviction that one has possibly carried all along on this particular business. We believe that O2C business is going to continue the journey going forward as well though in the current year, in the current month, that is in January, there is some amount of distortion in the GRM margins, but I do not think that we have a long-term impact on the company's working.
On the other side, the consumer facing businesses both the Jio platform as well as retail, Jio platform in particular I think because of the better mix as far as the customers are concerned and at the same time higher ARPU that they have been blocking have produced good numbers.
