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Improved margin in 02C biz lifts RIL profit
The Morning Standard
|October 28, 2023
Consolidated net profit up 27% at ₹17,394 cr, net debt falls to ₹2.95 lakh cr in Q2FY24 against ₹3.18 lakh cr in Q2FY22
BOOSTED by margin recovery in its mainstay oil-to-chemical (02C) business, Reliance Industries Ltd (RIL) on Friday reported a 27% jump in consolidated net profit (attributable to owners of the company) at ₹17,394 crore for the quarter ending September (Q2FY24).
RIL had reported a net profit of 13,656 crore in the same quarter last year and ₹16,011 crore in the preceding June quarter (Q1FY24). Consolidated revenue of India's largest company rose 1% to ₹2.34 lakh crore in Q2FY24 as against ₹2.32 lakh crore in Q2FY23. The PAT and revenue were in line with street estimates.
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