Billionaire Mukesh Ambani’s Reliance Industries Ltd on Friday reported a 41.5 per cent rise in its third-quarter net profit, helped by an uptick in two ‘Rs’ — refining and retail, a recent tariff hike accelerating growth at Jio and a one-off gain from sale of US shale gas business.
The oil-to-retail-to-telecom conglomerate’s consolidated net profit climbed 35.6 per cent sequentially and 41.5 per cent over the year-ago period to Rs 18,549 crore in the quarter ended December 31, 2021, the firm said in a statement.
Consolidated revenue of the nation’s biggest company by market value rose 9.5 per cent over the previous three months and 52.2 per cent year-on-year to Rs 209,823 crore.
