Reliance Industries Q2 net profit jumps 18% to a record ₹11,262 crore

Mumbai: Mukesh Ambani-led Reliance Industries reported 18% jump in Q2 net profit to a record ₹11,262 crore on turnaround in refining margins in the July-September period of the financial year 2019-2020 as against ₹9,516 crore a year ago.

Revenue from operations grew 4.8% to ₹1.64 trillion for the quarter ended 30 September, 2019 from ₹1.56 trillion for the same quarter last year as increase in revenue was primarily on account of robust growth in Retail & Digital Services businesses, which grew by 27% and 43%, respectively.

According to a Bloomberg poll of 14 analysts, RIL’s consolidated net profit is estimated to be ₹11,256 crores as per the estimate of 10 analysts. However, nine analysts estimated RIL’s revenue at ₹1.51 trillion.