Reliance Industries Ltd’s consolidated net profit rises 12.5% to Rs 13,101 crore
Reliance Industries (RIL) on Friday reported consolidated net profits of Rs 13,101 crore for the three months to December, 2020 , an increase of 12.5% y-o-y.
The oil- to- retail conglomerate’s consolidated revenue from operations for the quarter were down 22% y-o-y to Rs 1.23 lakh crore. The RIL stock, which is trading below its record September highs, closed at Rs 2,047.95 on Friday, down 2.45%, on a day when the markets were weak.
In a quarter in which the economy was recovering from the disruption caused by the pandemic, RIL’s performance was somewhat mixed. Jio Platforms fared reasonably well ; the subsidiary has received Rs 1.52 lakh crore from investors for a combined stake of 32.88%.
