RIL’s profit before tax dips 6%; petroleum retail biz valued at $2.04 bn
Reliance Industries Ltd on Thursday reported a 6 per cent fall in profit before tax at Rs 13,508 crore in the quarter ended June 30, 2020 as against a PBT of Rs 14,366 crore reported during the same quarter last year.
The company’s net profit, however, rose about 31 per cent to Rs 13,248 crore during April-June 2020 against Rs 10,141 crore in the same quarter last year. Its total income stood at Rs 95,626 crore against Rs 165,199 crore recorded in April-June 2019 indicating improved margins.
The outbreak of the Covid-19 pandemic globally and in India is causing significant disturbances and leading to a slowdown of economic activity, the company said in a statement. “The group’s operations and revenue during the current quarter were impacted due to Covid-19.
