Reliance Industries posts record quarterly net profit of Rs 29,550 crore, up 33.8 pc
Mumbai, Oct 30 (TNT) : Reliance Industries Ltd (RIL) on Friday reported its highest-ever quarterly consolidated net profit of Rs 29,550 crore for the September quarter, registering a year-on-year growth of 33.8 per cent, driven by strong performances in its Jio Platforms and Oil-to-Chemicals (O2C) businesses.
The company’s gross revenue rose 27.8 per cent to a record Rs 3,62,268 crore during the quarter.
Its consolidated EBITDA increased 23.9 per cent to an all-time high of Rs 62,409 crore.
In a relese, the company said its net profit for the first half of the current financial year crossed Rs 50,000 crore for the first time.
The O2C business recorded a 67.9 per cent growth in EBITDA to Rs 25,203 crore, while its revenue increased 44.2 per cent to Rs 2,31,601 crore.
Improved transportation fuel refining margins and polyester business margins reaching a three-year high contributed to the growth.
Despite disruptions in crude oil supplies through the Strait of Hormuz, the company secured supplies from multiple regions, including Latin America, North America and the Mediterranean, enabling it to process record volumes of crude oil and meet domestic fuel demand.
Jio Platforms registered growth in revenue and profitability, while Reliance Retail opened 303 new stores during the quarter and expanded its digital commerce operations. JioStar also reported revenue growth.
The Oil and Gas business recorded largely stable revenue, while coal-bed methane production increased.
Reliance continued investments in its New Energy projects as part of its long-term growth strategy.
TNT KS
