RIL Q2 consolidated net rises 12.5% to Rs 8,109 cr; Jio loss at Rs 271 cr
.jpg)
Buoyed by higher margins from its core refining and petrochemical businesses, oil-to-telecoms conglomerat Reliance Industries today reported a 12.5% increase in second-quarter consolidated net profit at Rs 8,109 crore as compared with last year’s figure of Rs 7,206 crore.
Consolidated revenue increased by 24% to Rs 1,01,169 crore during the quarter ending September as against Rs 81,651 crore in year-ago period.
Profit on a standalone basis, which includes the company's refining, petrochemicals and oil and gas exploration businesses, stood at Rs 8,265 crore, compared with Rs 7,704 crore a year earlier, a 7% increase.
Reliance Jio's net loss, however, widened to Rs 271 crore as against Rs 21 crore in the previous quarter ending June.
The gross refining margin (GRM) was at $12 per barrel during the quarter under review as against $10.10 per barrel in year-ago period.
On Friday, the RIL scrip on BSE closed 0.5% higher at Rs 876.70.
Ahead of its quarterly earnings announcement, RIL’s shares jumped nearly 4% on Thursday. The company's market valuation zoomed to its highest ever, by Rs 20,328.1 crore at Rs 5,52,515.10 crore.
Other Latest News
.webp)
As the results for the Maharashtra polls will be announced tomorrow, Shiv Sena (UBT) leader Sanjay Raut on Friday exuded confidence in the victory of the Maha Vikas Aghadi (MVA), saying that around 160-165 MLAs will be elected from MVA.
Reacting to the speculations of the CM face from Maha Vikas Aghadi, Raut asserted that no formula has been made yet for the selection of the CM face as everyone will sit together and choose the CM.
.webp)
The Supreme Court on Friday issued a notice to the Enforcement Directorate (ED) in response to a petition from former Delhi Deputy Chief Minister and Aam Aadmi Party (AAP) leader Manish Sisodia. Sisodia sought a relaxation of the bail condition that mandates him to appear before the investigating officer every Monday and Thursday.
An SC bench of Justices BR Gavai and KV Viswanathan said that it would make a decision on the matter during the next hearing without any adjournment.
.webp)
Kenya's president said Thursday he has cancelled multimillion-dollar airport expansion and energy deals with Indian tycoon Gautam Adani after US bribery and fraud indictments against one of Asia's richest men.
President William Ruto in a state of the nation address said the decision was made based on new information provided by our investigative agencies and partner nations. He didn't specify the United States.
.webp)
Asserting that the relationship between India and the US is built on a strong foundation, the White House has expressed confidence that it can navigate the ongoing crisis surrounding bribery charges against Indian billionaire Gautam Adani.
At her daily news conference, White House Press Secretary Karine Jean-Pierre told reporters on Thursday that the administration is aware of the charges against Adani.
.webp)
Prime Minister Narendra Modi on Monday (local time) held a bilateral meeting with his Italian counterpart, Giorgia Meloni, on the sidelines of the G20 Summit in Brazil. PM Modi stated that their discussions focused on strengthening ties in defence, security, trade, and technology. He remarked, "India-Italy friendship can greatly contribute to a better planet."
.webp)
.webp)
.webp)
.webp)
