Reliance Industries reported a consolidated net profit of Rs 13,101 crore in the December quarter, up 12.5 per cent over the same period in the previous year as lower expenses cushioned earnings even as revenues declined.
Consolidated net sales in the period under review stood at about Rs 1.18 trillion, down 23 per cent from the year-ago period because the oil to chemicals, oil and gas, and retail revenue segments took a hit.
A much lower current tax in the December quarter at Rs 295 crore compared to that in the corresponding period last year at Rs 1,996 crore, coupled with a sharp fall in finance costs, also lent support to the company’s bottom line in the quarter.
