Reliance net profit jumps 46% in Q1
The Hindu
New Delhi Billionaire Mukesh Ambani's Reliance Industries Ltd on Friday reported a 46% jump in n
Billionaire Mukesh Ambani's Reliance Industries Ltd on Friday reported a 46% jump in net profit for the three months ended June on the back of bumper earnings from oil and telecom businesses.
The oil-to-retail-to-telecom conglomerate's consolidated net profit rose to ₹17,955 crore during April-June period — the first quarter of 2022-23 fiscal year — from ₹12,273 crore in the year-ago period, it said a stock exchange filing.
The latest quarter earnings, however, could not better the record net profit of ₹18,549 crore reported by the company in the three months ended December 2021.
Reliance Jio Infocomm on Friday reported a nearly 24% rise in its June quarter net profit to ₹4,335 crore as tariff hike boosted revenues. The company clocked revenue from operations of ₹21,873 crore in the just-ended quarter, which was 21.5% higher than the year-ago period, according to a filing.
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