Mumbai/Delhi, October 018
India’s most-valuable company Reliance Industries (RIL) today posted a record quarterly net profit of Rs 11,262 crore as a steady rise in the share of its consumer businesses of retail and telecom countered lower earnings from traditional petrochemical and refining segment.
The oil-to-telecom conglomerate, led by richest Indian Mukesh Ambani, reported a net profit of Rs 11,262 crore, or Rs 18.6 per share, in July-September, up from Rs 9,516 crore, or Rs 16.1 a share, in the same period of the previous financial year, the company said.
This is the highest quarterly net profit earned by any private company, surpassing its own previous best of Rs 10,362 crore in the January-March period.
State-owned Indian Oil Corp (IOC) holds the distinction of posting highest ever quarterly profit by any Indian firm when it had reported a net profit of Rs 14,512.81 crore in January-March 2013.
Reliance’s standalone net profit of Rs 9,702 crore was also a record high. It clocked a 4.8% rise in consolidated revenue at Rs 1,63,854 crore in Q2.
The company opened 337 more retail stores and added 24 million subscribers to its Jio mobile phone service that helped increase the profitability of the venture, even as its traditional oil refining and petrochemical businesses continued to see weak earnings.
Reliance Jio, the group’s telecom arm, posted a standalone net profit of Rs 990 crore, which was 45.4% more than the previous year, as subscriber base swelled to 355.2 million from 331.2 million at the end of the June quarter and 252 million in Q2 of the previous fiscal. — PTI
Jio profit zooms 45% at Rs 990 crore
First company to hit m-cap of Rs 9 lakh cr
1
5