MUMBAI: Reliance Industries (RIL), India’s largest company in terms of market value, reported a 46% rise in quarterly profit on Friday, helped by higher price realisations in its oil-to-chemicals (O2C), digital services (Jio) and retail businesses. Profit grew to Rs 15,479 crore in the Q2FY22.
Revenue totalled over Rs 1.7 lakh crore, up 50%, as markets revived after the second wave of the pandemic in Q1FY22. Operating profit edged up 30% to Rs 30,283 crore in the July through September months, aided by strong earnings in its three main businesses. “The results demonstrate the inherent strengths of our businesses and the robust recovery of the Indian and global economies. All our businesses reflect growth over pre-Covid levels,” said chairman and MD Mukesh Ambani.
Operating profit of O2C increased 44% to Rs 12,720 crore due to higher volumes and price realisations.
