Reliance Industries (RIL) on Friday after market hours reported a consolidated net profit of Rs. 13,227 crore for the quarter ended March 31 as compared to Rs. 6,348 crore (including exceptional) in the same quarter last year. The sequential growth in profit was 1 percent. Profit in December quarter was at Rs 13,101 crore.
The consolidated revenue from operations has come in at Rs. 154,896 crore, up 11% from Rs. 139,535 crore year-on-year (YoY). Sequential increase in topline has been 24.9 percent.
"We have registered robust recovery in O2C and retail segment, and resilient growth in Digital Services business. Sustained high utilization rates across sites and improvement in downstream product deltas as well as transportation fuel margins aided O2C earnings growth," said Mukesh Dhirubhai Ambani, Chairman and Managing Director.
He further said, "The consumer businesses have proved to be a digital and physical lifeline for the nation in these challenging times."
This year in February, Mukesh Ambani group announced reorganisation of its O2C business into a wholly owned subsidiary-Reliance O2C Limited.
The firm has announced a dividend of Rs. 7 per share.
The company's performance in the quarter was boosted by a one-off gain of Rs 797 crore in comparison to a one-time loss of Rs 4,267 crore in the year-ago quarte
On Friday, the shares of Reliance Industries ended 1.42 percent lower at Rs 1994.45 apiece on the BSE.