Reliance’s profit down 7 percent
The consolidated net profit of Reliance Industries Limited, the country’s largest company doing business from petroleum to telecom, declined 7 percent to Rs 12,273 crore in the first quarter of the current financial year. The second wave of the Kovid-19 pandemic has also affected the company’s retail business.
The company said in the information given to the stock market that earlier in the same quarter of the financial year 2020-21, the consolidated net profit was Rs 13,233 crore. The company’s operating income increased to Rs 1,44,372 crore in the quarter under review from Rs 91,238 crore in the year-ago quarter.
The company’s digital arm Jio Platforms reported a 44.9 per cent jump in net profit at Rs 3,651 crore in the first quarter of the current fiscal. It had a net profit of Rs 2,519 crore in the same quarter of 2020-21 a year ago. Reliance Jio’s operating income grew 9.8 per cent to Rs 18,952 crore in the quarter ended June 2021 from Rs 17,254 crore in the year-ago quarter.
