Reliance Industries reports massive profit of Rs 9,459 Crore

Reliance Industries reports massive profit of Rs 9,459 Crore

Courtesy : NJ WEB TEAM29/07/2018 09:16

Reliance Industries' Reliance Retail on Friday reported an over three-fold jump in its pre-tax profit at Rs 1,069 crore for the first quarter ended June 30, 2018.
Mukesh Ambani led Reliance Industries on Friday reported its highest ever quarterly net profit. The gains were majorly led by RIL's retail business, improved profitability of telecom arm and near doubling of earnings from petrochemical business offset lower margins from oil refining business.
Consolidated net profit of Rs 9,459 crore, or Rs 16 per share, in April-June, was 17.9 per cent higher than Rs 8,021 crore, or Rs 13.5 a share, in the same period of previous fiscal, Reliance Industries conglomerate said in a statement.
Revenue was up 56.5 per cent at Rs 141,699 crore.
The April-June 2017 profit has been taken after excluding Rs 1,087 crore exceptional income from the sale of a stake in Gulf Africa Petroleum Corp, Reliance said.
 We have listed out major sectors tose have drive Reliance Industries to the roads of record profit.
 

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