Jio, stake sale boost RIL profit by 30.6% in Jun qtr

Aided by higher profits from the digital business and stake sale in fuel retailing business, Reliance Industries Ltd (RIL), India’s largest company in terms of market capitalisation, has reported a 30.6 per cent increase in consolidated net profit (including exceptional items) for the June quarter at Rs 13,248 crore as against Rs 10,141 crore in the same period a year ago.

However, RIL’s revenue declined to Rs 1,00,929 crore in the quarter, compared to Rs 1,74,087 crore a year ago, primarily due to fall in O2C revenues, led by a sharp decline of 57.6 per cent in average Brent crude price.