New Delhi: Reliance Industries Limited (RIL) on Friday reported a consolidated net profit of Rs 17,265 crore for the quarter ended December 31, posting a year-on-year (YoY) growth of 9.3%, but marginally lower than the previous quarter as “inspection shutdown” and lower price realisation on its oil business hit earnings.
The company’s revenue from oil-to-chemicals business declined by 2.4% YoY to Rs 1.41 lakh crore ($17 billion) in the third quarter of the current financial year.
Oil-to-chemicals is the biggest contributor to Mukesh Ambani-led Reliance Industries Limited. Despite the decline, it accounted for nearly 57% of the company’s consolidated revenue of Rs 2.48 lakh crore (29.8 billion) recorded during the quarter under review.
