RIL Posts Record Rs 11,640 crore profit in December Quarter

MUMBAI: Reliance IndustriesNSE 2.80 % (RIL) reported a 13.5% rise in quarterly net profit, buoyed by strong performance of its consumer-facing businesses and robust refining margins, which made up for a fall in income from its petrochemicals business, a major contributor to the conglomerate’s income.

The company also said it was sticking to its target of being netdebt free by March next year and that talks over Saudi Aramco’s proposed acquisition of equity stake in RIL’s oil-to-chemicals (OTC) business were progressing although the complex transaction was unlikely to be finalised in the current fiscal year.