NEW DELHI: Mukesh Ambani- led Reliance Industries Limited (RIL) on Wednesday reported its highest ever quarterly net profit of Rs 9,516 crore, a 17.4 per cent rise year-on-year, for the July-September period.
The company reported a net profit of Rs 8,109 crore in the corresponding quarter of last fiscal.
Its net profit stood at Rs 8,109 crore in the second quarter of the previous fiscal, the company said in a statement. RIL’s revenue rose 54.5 per cent to Rs 1,56,291 crore during the said quarter.
The company’s total revenues increased by 54.5 percent on a YoY basis to Rs 1,56,291 crore. RIL reported revenues of Rs 1,01,169 crore in the corresponding quarter of last fiscal.
Commenting on the results, Mukesh D. Ambani, Chairman and Managing Director, Reliance
Industries Limited said: “Our Company delivered robust operating and financial results for the
quarter despite macro headwinds, with strong growth in earnings on Y-o-Y basis. Our integrated
refining and petrochemicals business generated strong cash flows in a period of heightened volatility in commodity and currency markets. Our world-class petrochemicals assets contributed record earnings; endorsing benefits of diversified feedstock, integration and superior product portfolio’.
“Use of ethane feedstock at Nagothane cracker from this quarter has further enhanced feedstock
optionality. Our commitment to create consumer value is gathering momentum, with the robust scale-up of Indiacentric consumer facing businesses. The financial performance of both Retail and Jio reflect the benefits of scale, technology and operational efficiencies. Retail business EBITDA has grown three fold on Y-o-Y basis whereas Reliance Jio EBITDA has grown nearly 2.5 times. Jio has now crossed 250 million subscriber milestone and continues to be the largest mobile data carrier in the world.” he added.
