Reliance Industries posts Rs 13,806 crore net in Q1

Hyderabad: Diversified conglomerate Reliance IndustriesLtd (RIL) on Friday said it posted a consolidated net profit of Rs 13,806 for the first quarter ended June 2021, up 4.2 per cent from Rs 13,248 crore in the same period year ago. In a statement, RIL said the profit before exceptional item also stood at Rs 13,806 crore, up 66.7 per cent from Rs 8,282 crore in the same first quarter a year ago.

Revenue from operations rose to Rs 158,862 crore during April-June period, up 57.4 per cent from Rs 100,929 crore. While the company's oil-to-chemical (O2C) business rebounded, retail business took a hit from the second wave of the pandemic.

Mukesh D Ambani, Chairman and Managing Director, Reliance Industries Limited said: "Our company has delivered robust growth despite facing a highly challenging operating environment caused by the second wave of the Covid pandemic.

The results of the first quarter of FY22 clearly demonstrate the resilience of Reliance's diversified portfolioof businesses that cater to large parts of the consumption basket". In our O2C business, we generated strong earnings through our integrated portfolio and superior productplacement capabilities. Along with our partner bp, we commissioned the satellite cluster in KG D6 andcontinued to ramp up production, contributing to 20 per cent of gas production in India. This will be a majorcontribution to our country's energy security, he added.

Jio has posted yet another record quarterly performance with industry leading operating metrics, he said.