RIL net profit rises 9% in Oct-Dec qtr
Revenue almost flat at Rs 2.2 lakh cr
image for illustrative purpose
New Delhi: Reliance Industries Ltd on Friday reported a 9 per cent rise in its December quarter net profit as a planned maintenance-induced weakness in oil business earnings was offset by stability in retail and telecom verticals.
Net profit of Rs 17,265 crore, or Rs 25.52 per share, in October-December - the third quarter of the current 2023-24 fiscal - was 9.3 per cent higher than Rs 15,792 crore, or Rs 23.19 a share, earning a year back, according to a company’s stock exchange filing. The revenue from operations was almost flat at Rs 2.2 lakh crore.
“Reliance has delivered yet another quarter of robust operating and financial performance, thanks to the exceptional efforts put in by teams across its businesses,” said Mukesh D Ambani, Chairman and Managing Director, Reliance Industries Limited.
The retail segment has also delivered an impressive financial performance with its rapidly expanding physical as well as digital footprint. Reliance Retail remains focused on enriching customer shopping experience by adding new brands and offerings to its portfolio, he added.
Its New Commerce initiatives continue to support the growth journey of millions of small merchants through technology, generating immense societal value, he further said.
