RIL Q2 results: Reliance Industries reports net profit of ₹17,394 crore
Reliance Industries Limited reported a 27% rise in its net consolidated profit to ₹17,394 crore in the July-September quarter of the financial year 2023-24. The Indian conglomerate earned a net profit of ₹16,011 crore in the September quarter of the previous financial year. The company shares closed 1.75% higher at ₹2265.25 per share on BSE on Friday.
RIL's gross revenue increased by 1.2% YoY to ₹255,996 crore in the quarter under review against ₹231,132 crore in the year-ago period. Its EBITDA jumped by 30.2% Y-o-Y to ₹44,867 crore in Q2FY24 on account of net subscriber addition, focus on cost management, and better gas realisation. The company's finance costs increased by 25.8% YoY to ₹5,731 crore primarily due to higher interest rates and currency depreciation.
Its tax expenses jumped by 38% YoY to ₹6,673 crore. “Reliance Retail has continued to rapidly expand its offline as well as online presence while adding to its already impressive range of products and offerings. We are providing a fresh and friendly shopping experience across our seamless ecosystem.
Read more on livemint.com
