Reliance’s net profit increased by 43% in the second quarter

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New Delhi: Mukesh Ambani’s Reliance Industries today reported a 43 percent increase in net profit for the September quarter, as the company’s divisions, ranging from oil to retail, performed admirably, expanding both sequentially and year-on-year.

on a year-to-year comparison In July-September, the company reported a net profit of Rs 13,680 crore, or Rs 20.88 per share, compared to Rs 9,567 crore, or Rs 14.84 per share, in the same period a year ago, according to a statement.

While improved realisation and a strong jump in crude oil prices benefited the old economy, retail saw footfalls return to pre-COVID levels, and telecom company per user earnings increased. Revenue increased by 49% to Rs 1,91,532 crore.

Reliance has four business verticals: oil to chemical, which includes refineries, petrochemical facilities, and gasoline retailing; retail, which includes both brick-and-mortar shops and e-commerce; digital services, which includes telecom subsidiary Jio; and new energy.

On-demand recovery, 02C posted its fifth straight quarter of sequential gain. EBITDA increased by 4% quarter-on-quarter and 43.9 percent year-on-year to Rs 12,720 crore.

Jio Platforms recorded a net profit of Rs 3,728 crore, up 23.5% from the previous quarter, as per telecom user revenue increased to Rs 143.6 per month from Rs 138.4 in the previous quarter.