INSUBCONTINENT EXCLUSIVE:
Reliance Industries profit for the financial year came in at record Rs 53,739 crore.The country's most valuable company - Reliance
Industries - on Friday reported that its net profit rose 108 per cent to Rs 13,227 crore in quarter ended March 2021 from Rs 6,348 crore
during the corresponding period a year ago
On a sequential basis, Reliance Industries profit rose 1 per cent from Rs 13,101 crore
Its revenue from operations rose 11 per cent to Rs 1.55 lakh crore
The oil-to-telecom giant's profit for the financial year came in at record Rs 53,739 crore with growth of 34.8 per cent, Reliance
Industries said in a press release
was Rs 97,580 crore down 4.6 per cent
Reliance Industries digital arm Reliance Jio's net profit during the quarter advanced 0.5 per cent to Rs 3,508 crore and operating profit
came in at Rs 8,573 crore
Reliance Jio's average revenue per user (ARPU) fell to Rs 138.2 per subscriber per month as against Rs 151.0 per subscriber per month in
During the quarter Reliance Jio added 1.54 crore new customers.Its retail arm - Reliance Retail's net profit for March quarter jumped 23
per cent to Rs 2,247 crore
The company had 12,711 operational physical stores and opened 826 stores during the quarter, Reliance Industries said in a press
release."Grocery hit its all-time high revenues with a strong double-digit growth Q-o-Q, as it continued to serve the needs of customers
across the country, particularly for essentials post the emergence of the COVID situation," Reliance Industries added.Reliance Industries
oil-to-chemicals business saw its revenue decline by 29 per cent on account of lower volumes and price realization across key products
Sharp demand contraction in the first half of the year impacted growth for the year
The product price realization was lower in line with decline in average crude and feedstock prices, Reliance Industries said."These are
extraordinarily challenging times for India
Our immediate priority is to help our country and community tide over the COVID crisis
We have deployed our best resources in strengthening the nation's fight against the pandemic
Our facilities in Jamnagar are producing lifesaving medical grade oxygen, which is the crucial need of the hour in many states
We have also taken urgent steps to bolster the nation's capacity to swiftly transport medical oxygen
These efforts complement our other initiatives such as distributing free meals to the needy, supplying PPEs to frontline workers and setting
up world class COVID-care facilities
To me, these contributions are far more satisfying than our Company's strong, overall operational and financial performance for the year,"
Mukesh Ambani, Chairman and Managing Director, Reliance Industries said in a statement.Reliance Industries shares ended 1.42 per cent lower
at Rs 1,994 ahead of its earnings announcement.
