Billionaire Mukesh Ambani’s Reliance Industries Ltd on Friday reported a better-than-expected 12 per cent rise in December quarter net profit on improving oil-to-chemical business, strong continued momentum in retail and steady telecom unit Jio.
Consolidated net profit in October-December stood at Rs 13,101 crore, compared to Rs 11,640 crore net earning in the same period a year back, the company said in a statement.
While oil-to-chemical or O2C business improved quarter-on-quarter, it was lower than year-ago earnings but this was more than made good by a spurt in consumer-facing businesses of telecom and retail which now contribute to 51 per cent of earnings as compared to 37 per cent a year back.
