Reliance Industries (RIL), the country’s most valuable company by market cap, reported a 13.5% increase in its net profits to a record high of Rs 11,640 crore for the quarter ended December, beating Bloomberg consensus estimates. Consumer businesses now account for over 37% of the consolidated Ebitda of RIL.
However, revenues for Q3FY20 fell 1.4% to Rs 1.68 lakh crore, primarily on account of a 10.6% decline in revenues from its oil-to-chemicals (O2C) segment, with lower product price realisation and 6.6% fall in Brent crude price. This was partially offset by the continuing growth momentum in consumer businesses, RIL said.
