{"id":365779,"date":"2020-07-31T11:57:28","date_gmt":"2020-07-31T06:27:28","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=365779"},"modified":"2020-07-31T11:57:28","modified_gmt":"2020-07-31T06:27:28","slug":"extraordinary-gain-bp-deal-other-income-boost-ril-net-profit-by-31-to-rs-13248-crore-in-q1","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/extraordinary-gain-bp-deal-other-income-boost-ril-net-profit-by-31-to-rs-13248-crore-in-q1\/","title":{"rendered":"Extraordinary gain: BP deal, other income boost RIL net profit by 31% to Rs 13,248 crore in Q1"},"content":{"rendered":"<p>Reliance Industries (RIL) on Thursday reported a 30.6% y-o-y growth in net profit to Rs 13,248 crore in the April-June quarter, largely driven by an exceptional gain and a lower tax payout. The bottomline got a boost of Rs 4,966 crore from an exceptional profit (net of taxes of Rs 1,508 crore) from the divestment of shares of Reliance BP Mobility Services and a lower tax liability. During the quarter, tax payout was lower by 71% y-o-y at Rs 923 crore and deferred tax gains of Rs 663 crore. The company also saw a 54% y-o-y growth in other income at Rs 4,388 crore.<\/p>\n<p>Lockdowns across the world impacted demand across its key business verticals \u2014 petrochemicals, refining and retail. Prices of crude oil fell on lower demand impacting refining margins. Lockdowns in India impacted retail sales while high fixed costs eroded segmental profits.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Reliance Industries (RIL) on Thursday reported a 30.6% y-o-y growth in net profit to Rs 13,248 crore in the April-June quarter, largely driven by an exceptional gain and a lower tax payout. The bottomline got a boost of Rs 4,966 crore from an exceptional profit (net of taxes of Rs 1,508 crore) from the divestment of shares of Reliance BP Mobility Services and a lower tax liability. During the quarter, tax payout was lower by 71% y-o-y at Rs 923 crore and deferred tax gains of Rs 663 crore. The company also saw a 54% y-o-y growth in other income [&hellip;]<\/p>\n","protected":false},"author":39,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[130,191,136],"tags":[],"class_list":["post-365779","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-oil-gas-the-economic-times","category-the-economic-times"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/365779","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/39"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=365779"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/365779\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=365779"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=365779"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=365779"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}