Reliance logs ₹12,273 crore profit in Q1

Reliance Industries Ltd (RIL) on Friday reported a consolidated net profit of ₹12,273 crore for the quarter ended June 30, down 7.25% from ₹13,233 crore a year ago, as the second wave of Covid-19 impacted businesses. Revenue from operations rose 58% to ₹1.44 lakh crore, compared with ₹91,238 crore a year ago.

A Bloomberg poll had estimated consolidated net sales of ₹1.47 lakh crore and a consolidated net profit of ₹13,022.90 crore.

Consolidated earnings before interest, tax, depreciation and amortization, (Ebitda) for the quarter stood at ₹27,550 crore, higher by 27.6%. Ebitda is a measure of a company’s profitability.

“Our company has delivered robust growth despite facing a highly challenging operating environment caused by the second wave of the Covid pandemic,”