Reliance Industries (RIL) on Friday posted Rs 12,273 crore net profit for the quarter ended on June 30. The oil-to-telecom conglomerate posted a net profit of Rs 13,233 crore during the same period last year.
Revenue of Mukesh Ambani-led company increased to Rs 1.4 lakh crore during the quarter under review. India’s largest company by market capitalisation reported Rs 1,00, 929 crore revenue in Q1FY21. Company’s Earnings before interest, taxes, depreciation, and amortization (EBITDA) grew 27.6 per cent year-on-year to Rs 27,550 crore.
Commenting on Reliance Industries’ quarterly performance, Mukesh D. Ambani, chairman and managing director, Reliance Industries Limited said,
“I am happy that our Company has delivered robust growth despite facing a highly challenging operating environment caused by the second wave of the COVID pandemic. The results of the First Quarter of FY2022 clearly demonstrate the resilience of Reliance’s diversified portfolio of businesses that cater to large parts of the consumption basket.”
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“In our O2C business, we generated strong earnings through our integrated portfolio and superior product placement capabilities. Along with our partner bp, we commissioned the satellite cluster in KG D6 and continued to ramp up production, contributing to 20% of gas production in India. This will be a major
contribution to our country’s energy security,” he added.
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Source: News18