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RIL AGM 2021: JioPhone 3, laptop, 5G, dividend, Saudi Aramco deal update; what to expect from Mukesh Ambani
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In the largest consolidation in the domestic online pharmacy sector, unicorn PharmEasy has acquired Medlife for an undisclosed amount. According to the deal, Medlife users will become Pharmeasy customers with Medlife discontinuing operations from now on. The consolidated entity will be serving around 2 million customers every month, said the company. “This acquisition significantly strengthens our position in the healthcare industry, and further helps us in providing quality healthcare to more number of Indian households. Moving forward, we aim to be of even better service to the people,” said Dhaval Shah, co-founder of PharmEasy, in a post on LinkedIn. “Medlife customers just need to login to the PharmEasy app to start using their Medlife account via the same mobile number. All their digitised prescriptions and saved addresses dating back to a year will be available on the PharmEasy app,” he added. Apart from the users, PharmEasy will also be onboarding Medlife’s re
Reliance takes steps to expand its pharma biz
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RIL had acquired a 60% stake in Netmeds for ₹620 crore not only to strengthen its e-commerce play but also to beef up its healthcare portfolio using Jio platform.
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Mukesh Ambani-led Reliance Industries Ltd (RIL) is expanding its presence in the pharma sector and has operationalized 114 pharmacies. It is engaging customers through outreach initiatives, an RIL official said, adding that the company has started a pilot for hyperlocal delivery in Bengaluru.
“Pharma is a business which we are in the process of establishing. We’re activating Netmeds, which we acquired in September last year, and a whole round of impactful activation and campaigns which have gone behind it, said Dinesh Thapar, group chief financial officer, Reliance Retail, after the company’s fourth-quarter earnings announcement on 30 April.
Mukesh Ambani-led Reliance Industries Ltd (RIL) on Friday reported consolidated net profit of Rs 13,227 crore for the quarter ended March 31, 2021 (Q4FY21), up 108 per cent from Rs 6,348 crore logged in the corresponding quarter last year (Q4FY20). Sequentially, the profit rose 1 per cent. It was Rs 13,101 crore in the December quarter (Q3FY21). The company s board declared a dividend of Rs 7 per share for the financial year 2020-21. The oil-to-telecom conglomerate s revenue from operations rose 11 per cent to Rs 1.54 trillion as compared to Rs 1.39 trillion in the year-ago period. We have registered robust recovery in O2C and retail segment, and resilient growth in Digital Services business. Sustained high utilization rates across sites and improvement in downstream product deltas as well as transportation fuel margins aided O2C earnings growth., said Mukesh Ambani, Chairman of Reliance Industries.
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