MAM
Reliance Industries Ltd announces annual and quarterly financial results
Mumbai: Reliance Industries Limited (RIL) has reported a remarkable financial performance for the year ended 31 March 2024 highlighted by Jio Platforms (JPL) crossing the Rs 20,000 crore mark in annual net profit. The company has also announced a dividend of Rs 10 per share.
As per the report for the fiscal year, RIL’s gross revenue reached Rs 1,000,122 crore (approximately $119.9 billion), marking a 2.6 per cent increase year-on-year. This growth was underpinned by robust performance across consumer businesses and upstream operations. Jio Platforms experienced a notable revenue increase of 11.7 per cent year-on-year, driven by significant subscriber growth of 42.4 million in both mobility and home segments, alongside improvements in average revenue per user (ARPU).
The company’s EBITDA for the year saw a 16.1 per cent increase year-on-year, reaching Rs 178,677 crore (approximately $21.4 billion), reflecting positive contributions from all key operational segments. Jio Platforms’ EBITDA rose by 12.8 per cent year-on-year, benefiting from higher revenue and margin improvements.
Depreciation expenses increased by 26.1 per cent year-on-year to Rs 50,832 crore (approximately $6.1 billion), primarily due to an expanded asset base across all businesses, heightened network utilization in the Digital Services sector, and ramped-up upstream production. Finance costs rose by 18.1 per cent year-on-year to Rs 23,118 crore (about $2.8 billion), attributed to higher liability balances and increased market interest rates. Tax expenses also grew by 26.2 per cent year-on-year to Rs 25,707 crore (around $3.1 billion), due to the utilisation of tax credits from the previous financial year. Consequently, profit after tax increased by 7.3 per cent year-on-year to Rs 79,020 crore (about $9.5 billion). The capital expenditure for the year amounted to Rs 131,769 crore (approximately $15.8 billion), focusing on pan-India 5G rollouts, retail infrastructure expansion, and new energy ventures, excluding spectrum-related costs.
For the fourth quarter, RIL reported gross revenue of Rs 264,834 crore (approximately $31.8 billion), up 10.8 per cent year-on-year, driven by double-digit growth in the O2C and consumer businesses.
Reliance Industries Ltd chairman and managing director Mukesh D. Ambani said, “Initiatives across RIL’s businesses have made a remarkable contribution towards fostering growth of various sectors of the Indian economy. It is heartening to note that alongside strengthening the national economy, all segments have posted robust financial and operating performance. This has helped the Company achieve multiple milestones. I am happy to share that this year, Reliance became the first Indian company to cross the Rs 100,000-crore threshold in pre-tax profits.
Performance of the digital services segment has been boosted by the accelerated expansion of the subscriber base, supported by both mobility and fixed wireless services. With over 108 million True 5G customers, Jio truly leads the 5G transformation in India. From upgrading the hitherto 2G users to smartphones to leading the effort of producing AI-driven solutions, Jio has proved its capability to strengthen the nation’s digital infrastructure.
Reliance Retail continued to provide customers endless choices through its robust omnichannel presence. We continue to offer product differentiation and superior offline experience through stores re-modelling and revamping of layouts. Our digital commerce platforms also provide newer solutions to users with a broad brand catalogue. Reliance Retail also works towards strengthening millions of merchants through its unique initiatives in the new commerce space.
Strong demand for fuels globally, and limited flexibility in refining systems worldwide, supported the margins and profitability of the O2C segment. The downstream chemical industry experienced increasingly challenging market conditions through the year. Despite headwinds, maintaining leading product positions and feedstock flexibility through our operating model that prioritises cost management, we delivered a resilient performance. The KG-D6 block has achieved 30 MMSCMD of production and now accounts for 30 per cent of India’s domestic gas production.
We remain committed to our projects and initiatives, including those in the New Energy segment, which will bolster the company, and help it deliver sustainable growth for the future.”
MAM
Nielsen launches co-viewing pilot to sharpen TV measurement
Super Bowl pilot to refine how shared TV audiences are counted
MUMBAI: Nielsen is taking a fresh stab at one of television’s oldest blind spots: how many people are actually watching the same screen. The audience-measurement giant on February 4 unveiled a co-viewing pilot that uses wearable devices to better capture shared viewing, starting with America’s biggest broadcast stage.
The trial begins with Super Bowl LX on NBC on February 8, 2026, before extending to other high-profile live sports and entertainment events in the first half of the year. The goal is simple but commercially potent: count viewers more accurately, especially during live spectacles that pull families and friends to one screen.
The new approach leans on Nielsen’s proprietary wearable meters, wrist-worn devices that resemble smartwatches. These passively capture audio signatures from TV content, logging exposure to shows, films and live events without requiring viewers to sign in or self-report. In theory, fewer clicks, fewer lapses, better data.
Karthik Rao, Nielsen’s ceo, cast the move as part of a broader measurement push. He said the company’s task is to keep pushing accuracy as clients invest heavily in live programming that draws mass audiences. The co-viewing pilot, he added, builds on upgrades such as Big Data + Panel measurement, out-of-home expansion, live-streaming metrics and wearable-based tracking.
Co-viewing is not new territory for Nielsen, which has long tried to estimate how many people sit before a single set. What is new is the heavier integration of wearables and passive detection to reduce reliance on active inputs from panel homes.
For now, the pilot comes with caveats. Co-viewing estimates from the trial will not be folded into Nielsen’s Big Data + Panel ratings, which remain the industry’s trading currency. Instead, pilot findings will be shared with clients a few weeks after final Big Data + Panel ratings are delivered. Clients may disclose those findings publicly.
More impact data will follow later this year. Full integration into Nielsen’s marketing-intelligence suite is slated as a longer-term play, with a target of bringing co-viewing into currency measurement for the 2026–2027 season. This is only phase one, with further co-viewing enhancements planned beyond 2026 and additional timelines to be announced.
The push fits a wider pattern. Nielsen has in recent years expanded big-data integration, adopted first-party data for live-streaming measurement and broadened out-of-home tracking. It also positions itself as the reference point for streaming metrics through products such as The Gauge and the Nielsen Streaming Top 10.
In a market where billions of ad dollars hinge on decimal points, counting who is in the room matters. If Nielsen can pin down shared viewing, the humble sofa could become prime measurement real estate. The race to count every eyeball just found a new wrist to watch.
Brands
Delhivery chairman Deepak Kapoor, independent director Saugata Gupta quit board
Gurugram: Delhivery’s boardroom is being reset. Deepak Kapoor, chairman and independent director, has resigned with effect from April 1 as part of a planned board reconstitution, the logistics company said in an exchange filing. Saugata Gupta, managing director and chief executive of FMCG major Marico and an independent director on Delhivery’s board, has also stepped down.
Kapoor exits after an eight-year stint that included steering the company through its 2022 stock-market debut, a period that saw Delhivery transform from a venture-backed upstart into one of India’s most visible logistics platforms. Gupta, who joined the board in 2021, departs alongside him, marking a simultaneous clearing of two senior independent seats.
“Deepak and Saugata have been instrumental in our process of recognising the need for and enabling the reconstitution of the board of directors in line with our ambitious next phase of growth,” said Sahil Barua, managing director and chief executive, Delhivery. The statement frames the exits less as departures and more as deliberate succession, a boardroom shuffle timed to the company’s evolving scale and strategy.
The resignations arrive amid broader governance recalibration. In 2025, Delhivery appointed Emcure Pharmaceuticals whole-time director Namita Thapar, PB Fintech founder and chairman Yashish Dahiya, and IIM Bangalore faculty member Padmini Srinivasan as independent directors, signalling a tilt towards consumer, fintech and academic expertise at the board level.
Kapoor’s tenure spanned Delhivery’s most defining years, rapid network expansion, public listing and the push towards profitability in a bruising logistics market. Gupta’s presence brought FMCG and brand-scale perspective during a period when ecommerce volumes and last-mile delivery economics were being rewritten.
The twin exits, effective from the new financial year, underscore a familiar corporate rhythm: founders consolidate, veterans rotate out, and fresh voices are ushered in to script the next chapter. In India’s hyper-competitive logistics race, even the boardroom does not stand still.
MAM
Meta appoints Anuvrat Rao as APAC head of commerce partnerships
At Locofy.ai, Rao helped convert a three-year free beta into a paid engine, clocking 1,000 subscribers and 15 enterprise clients within ten days of launch in September 2024. The low-code startup, backed by Accel and top tech founders, is famed for turning designs into production-ready code using proprietary large design models.
Before that, Rao founded generative AI venture 1Bstories, which was acquired by creative AI platform Laetro in mid-2024, where he briefly served as managing director for APAC. Alongside operating roles, he has been an active investor and advisor since 2020, backing startups such as BotMD, Muxy, Creator plus, Intellect, Sealed and CricFlex through a creator-economy-led thesis.
Rao spent over eight years at Google, holding senior partnership roles across search, assistant, chrome, web and YouTube in APAC, and earlier cut his teeth in strategy consulting at OC&C in London and investment finance at W. P. Carey in Europe and the US.
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