Reliance Industries Posts Steady Profits Amid Sectoral Shifts

Reliance Industries Ltd reported a marginal net profit increase for the third quarter, with gains in the energy and digital sectors balancing out declines in the retail and gas production segments. Despite challenges, its robust cash flows and strategic initiatives in AI and new energy domains hint at future growth.

Reliance Industries Ltd announced a nearly flat net profit of Rs 18,645 crore for the third quarter, citing a decline in gas production and weaker retail business performance as key challenges. However, these were offset by gains in the digital and energy sectors, according to the company's report.

While the retail sector's growth was subdued due to GST rate changes and the demerger of the consumer products business, Jio Platforms witnessed a notable 13 percent revenue increase, fueled by subscriber growth and enhanced digital services. The O2C business, part of Reliance's core operations, saw revenue climb 8.4 percent thanks to strong demand dynamics and expanded fuel networks.

Relaying a strategic vision, Chairman Mukesh Ambani highlighted Reliance's focus on AI and new energy projects as pivotal in leading sustainable innovation. He expressed optimism about the company's role in harnessing these technologies for scalable solutions, underscoring the resilience demonstrated by Reliance's diversified business portfolio.

(With inputs from agencies.)