Reliance Industries net profit rises 12.5% to Rs 13,101 crore in Q3
Billionaire Mukesh Ambani’s Reliance Industries Ltd on Friday described a twelve.five per cent rise in consolidated net revenue to Rs 13,one zero one crore for the quarter finished December, 2020 compared to Rs 11,640 crore during the same period of time a calendar year ago. The net revenue was Rs 9,567 crore in September(2020) quarter.
Consolidated net revenue arrived in at Rs one.23 trillion in December quarter compared to Rs one.fifty seven trillion during the calendar year-ago period of time, the firm said in a filing. The revenue was Rs one.16 trillion crore in the September quarter 2020.
The firm’s electronic arm Reliance Jio revenue arrived in at Rs three,489 crore.
Reliance, which operates the world’s biggest refining advanced, said revenue from the oil-to-substances division fell virtually 30 per cent in the quarter from a calendar year previously. The enterprise houses Reliance’s oil refining and petrochemicals operations.
The firm’s whole fees fell 22 per cent.
“The Group’s operations and revenue during the period of time had been impacted owing to Covid-19. We have taken into account the probable impact of Covid-19 in planning of the unaudited consolidated economical success, together with its evaluation of recoverable worth of its belongings dependent on inner and external info upto the date of acceptance of these unaudited consolidated economical success and current indicators of long run financial situations,” the firm said in a filing.
Shares of Reliance Industries finished 2.4 per cent decreased on Friday.
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