RIL Q3 Results: PAT rises 12.5% YoY, beats estimates; sales slump 21%

MUMBAI: India’s largest listed company Reliance Industries today reported a 12.5 per cent year-on-year rise in its consolidated net profit to Rs 13,101 crore, which was above analysts’ estimates.

The oil-to-telecom conglomerate reported consolidated revenues of Rs 1.2 lakh crore, up 21.10 per cent year-on-year.

The weak topline performance of the company was attributable to the continued struggles of the refining business and retail business of the company due to the Covid-19 pandemic.

Analysts had expected the city-based company to report a consolidated net profit of Rs. 11,420 crore on consolidated revenues of Rs 1.27 lakh crore.