India’s most valuable company Reliance Industries on Friday posted a record quarterly net profit of Rs 11,640 crore as a turnaround in oil refining business together with the continued rise in the share of its consumer businesses of retail and telecom countered lower profitability in petrochemicals.
The oil-to-telecom conglomerate, led by richest Indian Mukesh Ambani, reported a net profit of Rs 11,640 crore, or Rs 18.4 per share, in October-December, up from Rs 10,251 crore, or Rs 17.3 a share, in the same period of the previous financial year, the company said in a statement.
This is the highest quarterly net profit earned by any private company, surpassing its own previous best of Rs 11,262 crore in the July-September 2019 period.
State-owned Indian Oil Corp (IOC) holds the distinction of posting the highest ever quarterly profit by any Indian firm when it had reported a net profit of Rs 14,512.81 crore in January-March 2013.
