RIL Q2 Results: Reliance Industries posted a profit of Rs 13,656 crore, revenue of Rs 2.32 lakh crore

Reliance Industries Q2 Results: The country’s largest private company Reliance Industries has declared the financial results for the second quarter of the financial year 2022-23. The company’s net profit in the second quarter stood at Rs 13,656 crore as against Rs 13,680 crore in the same quarter last year. The company’s revenue has increased by 33.7 percent and it has been Rs 2.32 lakh crore. At the same time, the consolidated revenue of Reliance Group grew by 32.4 percent to Rs 253,497 crore, which is 32.4 percent higher than the same quarter last year.

The operating profit of Reliance Industries stood at Rs 34,663 crore with a jump of 14.5 per cent in the quarter. The company said that due to the windfall tax imposed by the government on July 1, 2022, the company has suffered a burden of Rs 4039 crore. According to the company, after excluding special excise duty, consolidated operating profit grew by 27.8 per cent to Rs 38,702 crore in September 2022.

On the announcement of Reliance Industries results, the company’s chairman Mukesh Ambani said, “The performance of our O2C business reflects weak demand and weak margin environment in downstream chemical products. Transportation fuel margin was better than last year but was much lower than last quarter. The performance has been impacted by the introduction of special additional excise duty during the quarter to ensure stable supply and less volatility in the domestic market, he added.

Reliance Jio profit up 28%
Reliance Jio Infocomm, a subsidiary of Reliance Industries, has also declared its results for the second quarter of 2022-23. During the second quarter, the company’s profit has increased by 28 percent to Rs 4518 crore as compared to this quarter of the previous year. Whereas profit has increased by 4 percent compared to the first quarter of this year. The company’s revenue in the second quarter has been Rs 22,521 crore, which is 20 percent more than the same quarter last year. The company’s result has been better due to the addition of new customers and increase in the average revenue per user.

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *