RIL reports ₹7,206 cr profit in Q2, driven by petrochemicals

MUMBAI: Reliance Industries on Thursday reported a 24% fall in net profit even as revenue and margins rose on the back of a strong performance in petrochemicals. The Mumbai-based industry leader said its net profit in the July-September period fell to ₹7,206 crore from ₹9,345 crore last year.

The Mukesh Ambani-owned company, which recently disrupted India’s telecom market with the launch of Jio service through subsidiary Reliance Jio, said it will spend about ₹100,000 crore in building telecom infrastructure and improving services via Jio over the next four years, which will be over and above the ₹150,000 crore it has spent previously.

While the capital expenditure for the second quarter was ₹17,210 crore, that for the half year that ended on September 30 was ₹43,900 crore, including exchange rate difference capitalization. While the core areas of oil, refining and petrochemicals have been growing steadily, the conglomerate has also been making plans to boost presence in telecom, retail and digital segments.