RIL Q3 net profit rises 12% to Rs 13,101 crore

NEW DELHI: Reliance Industries Limited (RIL) on Friday reported a 12.6 per cent rise in its consolidated net profit for the third quarter (Q3) ended December 2020 mainly on account of improving oil-to-chemical business.
The company posted a net profit of Rs 13,101 crore in Q3 as against a profit of Rs 11,640 crore posted in the same period last year.
In terms of quarter-on-quarter (q-o-q) growth, RIL reported a 37 per cent jump in its net profit in the period under consideration as compared to Rs 9,567 crore recorded in the previous quarter.
Revenue from operations of the company was lower at Rs 128,450 crore in Q3 of the current fiscal, as against Rs 157,165 crore a year back.
Meanwhile, the company’s telecom arm Reliance Jio recorded 15.5 per cent q-o-q rise in net profit to Rs 3,489 crore for October-December 2020.
Jio Platforms, which provides digital and telecom services, had posted a net profit of Rs 3,020 crore in the previous quarter.
The revenue of the company stood at Rs 22,858 crore in the October-December 2020 period.
Jio Platforms reported a total customer base of 41 crore as of December 31, 2020.
Reliance’s retail division reported an 18.7 per cent drop in revenue, as only half of its over 12,000 stores were fully operational and footfall remained below pre-Covid levels.
(With inputs from agencies)

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