Reliance Industries Ltd on Friday reported its highest-ever quarterly net profit of Rs 19,299 crore in January-March on the back of stronger earnings from the oil and petrochemicals business and steady growth in retail and telecom operations.
The oil-to-retail-to-telecom conglomerate’s consolidated net profit of Rs 19,299 crore, or Rs 28.52 per share, in January-March compared to Rs 16,203 crore, or Rs 23.95 a share, earnings in the same period a year back, according to the company’s stock exchange filing and press statement.
A stronger margin from refining crude oil into products like petrol and diesel, resilient fuel exports earnings on lower windfall tax and chemical business witnessing a buoyancy from the use of ethane as feedstock drove oil-to-chemical (O2C) business.
