Go Unlimited with Magzter GOLD
Get unlimited access to 10,000+ magazines, newspapers and Premium stories for just
Try GOLD - Free
Jio, retail boost RIL profit by 12% in Q3
Mint Mumbai
|January 17, 2025
Consumer businesses perform well; O2C shows signs of revival
India's largest private company Reliance Industries Ltd posted nearly 12% higher net profit in the December quarter as its digital and retail businesses levelled up, and its legacy petrochemicals business showed signs of revival.
The Mukesh Ambani-led conglomerate on Thursday said net profit for the quarter jumped 11.7% from a year earlier to ₹21,930 crore, beating Bloomberg estimate of 18,326.2 crore. Consolidated quarterly revenue was up 7.7% at ₹2.67 trillion, against the Bloomberg estimate of 2.33 trillion.
"The O2C business showcased its innate resilience, registering growth even in this prolonged period of volatility in the global energy markets," said Ambani, RIL's chairman and managing director.
Over the past year, the conglomerate has struggled to improve margins in its largest business of oil to chemicals (O2C), which produces petrochemical products with a wide range of domestic and industrial use.
Over the past few months, RIL's stock has traded around ₹1,200, despite a bonus issue in October. On Thursday, RIL shares closed 1.31% higher at 1268.7 on BSE, before the earnings announcement.
This story is from the January 17, 2025 edition of Mint Mumbai.
Subscribe to Magzter GOLD to access thousands of curated premium stories, and 10,000+ magazines and newspapers.
Already a subscriber? Sign In
MORE STORIES FROM Mint Mumbai
Mint Mumbai
Investors expect AI use to soar. That’s not happening
On November 20th American statisticians released the results of a survey. Buried in the data is a trend with implications for trillions of dollars of spending.
4 mins
November 28, 2025
Mint Mumbai
360 One, Steadview, others to invest in Wakefit ahead of IPO
A clutch of firms, including 360 One, Steadview Capital, WhiteOak Capital and Info Edge, is expected to invest in home-furnishings brand Wakefit Innovations Ltd just ahead of its initial public offering (IPO) next month, three people familiar with the matter said.
3 mins
November 28, 2025
Mint Mumbai
I-T dept to nudge taxpayers to declare foreign wealth
The department was able to collect 30,000 crore disclosed in the previous Nudge drive
2 mins
November 28, 2025
Mint Mumbai
Catamaran to boost manufacturing bets
Catamaran is focused on a few areas in manufacturing, such as aerospace
2 mins
November 28, 2025
Mint Mumbai
India, UAE review trade agreement to ease market access
Officials of India and the United Arab Emirates (UAE) met on Thursday to review how the Comprehensive Economic Partnership Agreement (CEPA) is working, and remove frictions that may be impeding trade between the two nations.
1 mins
November 28, 2025
Mint Mumbai
Beyond the stock slump-Kaynes' $1 bn aim is just the start
Shares of Kaynes Technology India Ltd have fallen about 25% from their peak of 7,705 in October, amid a management reshuffle and the expiry of the lock-in period for pre-IPO shareholders.
1 mins
November 28, 2025
Mint Mumbai
How Omnicom’s IPG buy will change Indian advertising
Two of the advertising world’s Big Four holding companies—Interpublic Group and Omnicom—officially merged this week.
2 mins
November 28, 2025
Mint Mumbai
Why TCS is walking a tightrope
Tata Consultancy Services Ltd recently outlined an ambitious multi-year $6-7 billion investment plan to build artificial intelligence (AI)-focused data centres and is already making progress in that area.
2 mins
November 28, 2025
Mint Mumbai
It's a multi-horse Street race now as Smids muscle in
For years, India’s stock market ran on the shoulders of a few giants. Not anymore.
3 mins
November 28, 2025
Mint Mumbai
Telecom firms flag hurdles in data privacy compliance
Operators need to comply with the data protection norms within 12-18 months
1 mins
November 28, 2025
Listen
Translate
Change font size