Reliance Ind .'s quarterly net profit rose 12.5 per cent to Rs 13,101 crore

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(Commercial Representative) Mumbai, Ta. Saturday, January 23, 2021

Reliance Industries Ltd's net profit for the third quarter ended December 31, 2020 grew by 12.5 per cent to Rs 12,101 crore from Rs 11,60 crore in the year-ago period. Of course, the company's revenue from oil to chemicals business has declined sharply. Consolidated revenue fell 5 per cent to Rs 1.5 lakh crore.

Commenting on the company's results, Chairman and Managing Director Mukesh D. "At a time when the Indian economy is on the verge of recovery, Reliance Industries has achieved commendable performance in the third quarter of FY21," Ambani said. The company has seen encouraging recovery in the autos and retail segments. This has led to steady growth in the digital services business. The company is proud to employ more than 50,000 people since March 2020.

Reliance Jio, a telecom subsidiary of the company, also posted a net profit of Rs 4 crore on a consolidated basis, up 12.5 per cent on a consolidated basis, and revenue of Rs 12.5 crore, an increase of 2.8 per cent. In the third quarter, Reliance Retail Ventures Ltd sold 10.04 per cent equity holdings for Rs 4.5 crore to raise funds. On a consolidated basis, the retail venture grew its net profit by 2.1 per cent to Rs 150 crore in the second quarter.


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