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Reliance Net Profits Rises 31%, Exceptional Income Supports

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Reliance Industries saw its net profits including exceptional items rise 30.6 per cent at Rs 13,248 crores for the quarter ending June 30, 220. Net Profits were supported by a one-time gain of Rs 4,966 crore from the transfer of its Reliance BP Mobility stake to BP Global.

Revenue for the quarter was Rs 100,929 crore, while EBITDA for the quarter was placed at Rs 21,585 crore. EPS including exceptional items for the quarter was Rs 20.7 per share, increased 22.1% Y-o-Y. Commenting on the results, Mukesh D. Ambani, Chairman and Managing Director, Reliance Industries Limited said:

"I am humbled and inspired by the exemplary commitment and empathy of the Reliance family during the Covid-19 pandemic. The severe demand destruction due to global lockdowns impacted our hydrocarbons business but the flexibility in our operations enabled us to operate at near normal levels and deliver industry leading results. Our consumer facing businesses became the life-line for individuals and businesses with our Retail and Jio teams working hard to ensure millions got essential goods and services through the lockdown.

Reliance Net Profits Rises 31%, Exceptional Income Supports
 

We completed the largest fund raise in Indian Corporate history in this quarter. I thank the millionsof individual investors who supported our Rights Issue and welcome all our new partners to an

exciting new phase of growth at Reliance."

Jio reported good numbers with standalone net profit of at Rs 2,520 crore (182.8% YoY growth). Total Customer base as on 30th June 2020 was placed at 398.3 million.

Read more about: reliance jio
Story first published: Thursday, July 30, 2020, 20:41 [IST]
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