Billionaire Mukesh Ambani owned, oil to chemical, telecom and retail conglomerate, Reliance Industries, on January 21 reported a consolidated profit after tax (PAT) of Rs 18,549 crore for the quarter ended December 2021, up 42 per cent from Rs 13,101 crore registered in the corresponding quarter of the last financial year. The company had reported a profit of Rs 13,680 crore in the September 2021 quarter.
Consolidated revenue for the country’s most valuable company by market-capitalisation came in at Rs 1,91,271 crore, up by 62 per cent for the quarter from Rs 1,17,860 crore in the year-ago period. Revenues in the previous quarter were Rs 1,67,611 crore.
The strong growth was driven by robust performance across businesses especially from refining, telecom, retail and E&P (exploration and production) businesses. The margins in its refining and petchem business witnessed a healthy growth along with the volumes in these businesses. Higher ARPUs (average revenue per user) in telecom and strong rebound in retail demand aided the growth in its telecom and retail business.
The Reliance Industries stock opened at Rs 2,452, down Rs 25.5 from its previous close on the National Stock Exchange on January 21. The stock has generated returns of 19 per cent in the past one year and gained 8 per cent in the past one month.
Disclaimer:Network18 and TV18 – the companies that operate news18.com – are controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.
Read all the Latest News, Breaking News and Coronavirus News here.
Source: News18