Reliance Industries Ltd (RIL) more than doubled its March quarter consolidated net profit from a year ago to ₹14,995 crore, even as revenue rose a more sedate 14% to ₹1.72 lakh crore. For 2020-21, consolidated net profit came in at ₹53,739 crore, up 35% from ₹39,880 crore a year ago, while consolidated revenue fell from ₹659,997 crore to ₹539,238 crore.
The decrease in revenue from a year earlier was primarily due to lower volumes and realisation across key products in the oil-to-chemicals, or O2C, segment. The retail segment also reported lower revenue due to the pandemic. This, however, was partially offset by higher revenue from the digital services segment on account of continued subscriber traction and higher Arpu (average revenue per user), the company said.
