The Business Bytes
TBB BUREAU
MUMBAI, JULY 23, 2021
Mukesh Ambani-owned Reliance Industries Ltd (RIL) on Friday reported a 66.7 per cent growth in its year-on-year consolidated net profit for the quarter ended June 30, 2021 (Q1FY22) at Rs 13,806 crore.
In a regulatory filing, RIL said that Rs 12,273 crore is the net profit attributable to the owners of the company.
The oil-to-telecom giant reported a 57.4 per cent rise in year-on-year value of consolidated ‘Sales and Services’ for the quarter at Rs 158,862 crore.
Besides, EBITDA for the quarter was Rs 27,550 crore, higher by 27.6 per cent.
Moreover, Cash Profit, before exceptional item, for the quarter was Rs 21,828 crore, higher by 56.7 per cent.
On a standalone basis, the year-on-year net profit before exceptional item for the quarter grew by 76.3 per cent to Rs 8,595 crore.
Similarly, the Value of Sales and Services for the quarter was Rs 94,803 crore, higher by 81.4 per cent.
“I am happy that our Company has delivered robust growth despite facing a highly challenging operating environment caused by the second wave of the Covid pandemic,” RIL Chairman and Managing Director Mukesh D. Ambani said.
“The results of the First Quarter of FY2022 clearly demonstrate the resilience of Reliance’s diversified portfolio of businesses that cater to large parts of the consumption basket,” he added.
