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Wednesday, December 08, 2021

RIL Q2 profit up 46%; sharp retail recovery, sustained growth in O2C, digital: Ambani

Net profit of Rs 13,680 crore, or Rs 20.88 per share, in July-September compared with Rs 9,567 crore, or Rs 14.84 a share, in the same period a year back, the company said in a statement.

By: ENS Economic Bureau | Mumbai |
Updated: October 23, 2021 1:08:41 pm
Reliance, Mukesh Ambani, Jio, Jiophone, Diwali, Google, Indian express, Indian express news, current affairs, India news

With all its businesses reflecting “growth over pre-Covid levels”, Reliance Industries Ltd (RIL) saw a 46 per cent rise in consolidated net profit at Rs 15,479 crore for the September quarter of FY22 as against Rs 10,602 crore in the same period of last year. RIL’s gross revenue for the period was Rs 1,91,532 crore, 49.2 per cent above Rs 1,28,385 crore a year ago.

Reliance Jio Platforms posted a 23.5 per cent rise in net profit at Rs 3,728 crore for the quarter. Jio’s gross revenue for the quarter was Rs 23,222 crore, higher by 15.2 per cent. Reliance Retail achieved a gross revenue of Rs 45,426 crore for the second quarter, a growth of 10.5 per cent year-on-year and higher than pre-Covid period. Its net profit for the quarter was Rs 1,695 crore, 74.2 per cent higher.

“All our businesses reflect growth over pre-Covid levels. Our operational and financial performance reflects sharp recovery in the retail segment and sustained growth in oil-to-chemicals (O2C) and digital services business. Our O2C business benefited from sharp recovery in demand across products and higher transportation fuel margins,” said RIL chairman & MD Mukesh Ambani.

RIL said Jio and Google are working together to make JioPhone Next available more widely in time for Diwali season.

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