Record Profits Propel Reliance Industries to New Heights
Reliance Industries reported a record quarterly profit of Rs 26,994 crore for the April-June quarter, marking a 78.3% growth compared to the previous year. This increase was driven by consumer businesses and investment sales. The company's diverse portfolio, including retail, telecom, and petrochemicals, contributed to this impressive financial performance.
- Country:
- India
Reliance Industries, India's most valuable company, announced its highest-ever quarterly profit of Rs 26,994 crore for the April-June period, showcasing a remarkable 78.3% increase from the previous year. This achievement underscores the company's strong consumer businesses and strategic investment sales.
The conglomerate's diversified operations, spanning oil-to-retail-to-telecom, have driven substantial growth. Revenue from operations rose by 5.26% to Rs 2.48 lakh crore. Notably, the Jio Platforms digital services business expanded its consumer base to 498.1 million, boosting net profits.
Reliance continues to show resilience amidst global volatility, with its O2C business thriving on domestic fuel demand and value-added offerings. Retail sector profits also surged by 28.3% as the company expanded its store network and strengthened its FMCG brand portfolio.
(With inputs from agencies.)
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