Reliance Industries Achieves Record Quarterly Profit amid Digital Surge

Reliance Industries Ltd reported a 7.4% rise in its December quarter net profit, driven by strong telecom earnings and retail business resurgence. With higher tariffs, increased subscribers, and oil-to-chemicals sector growth, the company achieved a consolidated net profit of Rs 18,540 crore. Reliance Chairman Mukesh Ambani highlighted digital services growth and retail performance.

Reliance Industries Ltd, a key player in diverse sectors, reported a substantial 7.4% increase in net profit for the December quarter. The profit surge was majorly fueled by the resurgence of the retail business, higher tariffs in telecom, and consistent oil and petrochemical performance.

The company recorded a consolidated net profit of Rs 18,540 crore, marking a rise from Rs 17,265 crore in the same period last year. Earnings before tax rose by 7.8% to Rs 48,003 crore, despite a 7% increase in finance costs due to higher debt.

Jio Infocomm showed significant growth with a 24% profit increase, while Reliance Retail Ventures Ltd posted a 10% rise in profit. In the oil-to-chemicals sector, EBITDA rose 2.4% amid improved refining margins. Chairman Mukesh Ambani attributed the success to digital growth, enhanced subscriber engagement, and robust retail performance.