RIL Q1 profit rises 4% to nearly Rs 14k cr

Mumbai: Reliance Industries (RIL), India’s largest company in terms of market value, reported a modest rise in quarterly profit on Friday, helped by higher price realisations in its retail, oil-to-chemicals (O2C) and the digital services (Jio) businesses. Profit grew 4% to Rs 13,806 crore in Q1FY22. Revenue totalled over Rs 1.4 lakh crore, up 58%, even as it faced disturbance in its activities due to the second wave of the pandemic. If the Rs 4,966-crore exceptional gain of Q1FY21 is excluded, then the company’s Q1FY22 profit is up 67%.

Operating profit edged up 28% in the April through June months, aided by strong earnings in its three main businesses.