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Reliance Industries posts record September-quarter profit of Rs 29,550 crore

Oil-to-chemicals and digital segments drove the gain, though sources give differing profit comparisons and retail earnings weakened.

By idly desk · from 2 reports · · 2 min read
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The gist

Story
  • Reliance Industries reported a record consolidated net profit of Rs 29,550 crore for the September quarter.
  • Oil-to-chemicals earnings rose sharply, with reported segment EBITDA up about 68%, per multiple outlets.
  • Retail revenue grew about 6.4%, but retail profitability weakened, according to Economic Times reporting.

What's new

Reliance Industries Ltd has reported a record consolidated net profit for the September quarter, with outlets citing a figure of Rs 29,550 crore. The Times of India and Economic Times attribute most of the growth to the oil-to-chemicals segment, whose EBITDA reportedly rose about 68 percent. Consolidated gross revenue was reported at roughly Rs 3.62 lakh crore. Reliance Retail's gross revenue rose 6.4 percent to Rs 91,716 crore, though one Economic Times report says festive-season timing and digital spending weighed on that segment's profit.

Why it matters

The results point to the group's reliance on energy-linked chemicals business, which benefited from elevated energy prices according to Economic Times. Investors were directed by one outlet to watch the figures ahead of Monday trading, and the reported decline in debt was cited as an improvement to the company's financial position.

What others say

Reports differ on the year-on-year comparison. Economic Times cites a 41 percent rise to Rs 25,548 crore in one story, while another Economic Times report and the Times of India cite a profit of Rs 29,550 crore with growth of about 34 percent. The sources do not reconcile these two profit figures.

What we don't know yet

The sources do not clearly explain why the reported profit figures differ, and the full breakdown of the company's results is not provided in these reports.

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