New Delhi: The gap between Reliance Industries Ltd’s standalone and consolidated net profit has more than doubled to Rs 22,400 crore in the last couple of years, as the retail and telecom businesses housed in separate subsidiaries saw significant growth, a report said.
“The gap between Reliance’s standalone and consolidated profit after tax (PAT) has increased significantly – from Rs 8,400 crore in FY20 (April 2019 to March 2020) to Rs 22,400 crore in FY23, as telecom and retail have ramped up,” JP Morgan said in a note that used data from the firm’s annual reports to reconcile the difference between the two reported profit numbers.
