RIL net rises 4.2% to ₹13,806 cr. as refining lifts revenue by 57%
The Hindu
Incremental output from KG D6 block helps double Oil & Gas business revenue
Reliance Industries Ltd. (RIL) on Friday reported first-quarter net profit rose 4.2% to ₹13,806 crore, as higher price realisation in the oil to chemicals (O2C) business helped propel a 57% jump in overall revenue. Revenue surged to ₹1,58,862 crore, from ₹1,00,929 crore a year earlier, aided by a doubling of revenue from the Oil & Gas business due to incremental production from KG D6 block, and increased revenues from the Jio and Retail units, RIL said in a release. “Our company has delivered robust growth despite facing a highly challenging operating environment caused by the second wave of the COVID pandemic,” CMD Mukesh D. Ambani said in the release. “The results... clearly demonstrate the resilience of Reliance’s diversified portfolio of businesses that cater to large parts of the consumption basket.”More Related News