Eleven years after Reliance Industries Ltd (RIL) began shuttering its fuel retail outlets, it has regained market share in petrol and diesel sales to pre-2006 levels.
While petrol and diesel sales nationwide grew 9% and 3%, respectively, in 2018-19 from a year ago, RIL outperformed the industry with figures of 21% and 16%, respectively, the company said in a presentation to analysts after its quarterly earnings.
Till 2006, when RIL’s fuel sales were at its peak, it had a market share of 14.3% in diesel and 7.2% in petrol. “With 1,372 outlets, we clocked highest-ever exit volume at 5.6 million kilolitres in March 2019,” RIL said in the presentation. A kiloliter equals 1,000 litres.
