RIL Q2 result: Reliance Industries consolidated net profit up 17.4% at 9,516 crore
Reliance industries reported a 17.4% rise in quarterly net profit as sales and exports from the recently expanded petrochemical business. (RIL) has posted a consolidated net profit of ` 9,516 crore up 17.4% (YoY) in quarterly profit in its September quarter (Q2). RIL reported quarterly consolidated revenue of ` 156,291 crore ($21.6 bn), up 54.5%, even as quarterly segment revenue of digital services crossed ` 10,000 crore. It also revealed a record quarterly EBIT for petrochemicals, re- tail and that digital services Jio subscriber base crossed 250 million mark.
RIL’s fuel retail business has felt the impact of cut in fuel prices as it had to match the prices offered by state-run oil marketing companies and their revenue jump from 54.5% to ` 156,291 crore is due to higher oil prices.