Have balance sheet to support growth at Jio, retail and O2C: RIL

Reliance Industries said it has applied for the use of niclosamide as a potential drug to treat Covid-19 and developed a cost-effective diagnostic kit to detect the disease, among other measures that leverage its intellectual capital to fight the pandemic. In its annual report for 2020-21 released on Wednesday, RIL said Jio Platforms has tied up with US chipmaker Qualcomm for local manufacturing of 5G equipment.

The company said it had prepaid $7.8 billion of long-term foreign currency debt in the year and become a “net debt zero” company in FY21. In the year, the digital commerce and merchant partnerships business notched up a 10% share in Reliance Retail’s total revenue of Rs 1,53,818 crore, rising from almost nothing in the previous year.