Reliance Industries Q2FY21 profit at Rs. 9567 Crore
The oil to telecom conglomerate Reliance Industries on Friday posted consolidated net profit at Rs. 9567 crore, a 15 percent y-o-y decline, for the just ended September quarter of FY21. In the corresponding quarter last year, the firm logged a profit of Rs. 11262 crore.
Refining revenue declined 36%, said Reliance, which runs the world's biggest oil refining unit. Petrochemicals revenue also fell 23%.
In Q1FY21, the company reported profit at Rs. 13,248 crore while adjusted profit came in at Rs. 8380 crore. This is owing to an exceptional income stream to the tune of Rs. 4966 crore from stake sale in Reliance BP Mobility to BP.
Besides on the results Mukesh Ambani, Chairman and Managing Director, Reliance Industries said: "We delivered strong overall operational and financial performance compared to previous quarter with recovery in petrochemicals and retail segment, and sustained growth in digital services business. Domestic demand has sharply recovered across our O2C business and is now near pre-Covid level for most products." "With large capital raise in the last six months across Jio and Retail business, we have welcomed several strategic and financial investors into Reliance family. We continue to pursue growth initiatives in each of our businesses with a focus on the India opportunity," he added