Despite the disturbances caused by the Covid pandemic, Reliance Industries, India’s largest firm by market capitalisation, on Friday reported a 12.55 per cent rise in consolidated net profit at Rs 13,101 crore for the quarter ended December 2020 (Q3), as against Rs 11,640 crore in the same period a year ago.
On a quarter-on-quarter basis, the net profit rose 37 per cent from Rs 9,567 crore in the September quarter. The net profit before exceptional item for the December quarter was Rs 15,015 crore, higher by 41.6 per cent, RIL said.
Consolidated revenue from operations declined 21.1 per cent to Rs 123,997 crore as against Rs 157,165 crore in the year-ago period. “The outbreak of coronavirus pandemic globally and in India is causing significant disturbance and slowdown of economic activity. The group’s operations and revenue during the period were impacted due to Covid-19,” the company said.
