RIL posts Rs 10,251-cr profit in Dec quarter

New Delhi, January 17 

Reliance Industries Ltd (RIL) today became the first Indian private sector company to report a quarterly profit of more than Rs 10,000 crore after record earnings from petrochemical, retail and telecom business offset a dip in refinery margins.

The oil-to-telecom conglomerate reported an 8.8% rise in its consolidated net profit to Rs 10,251 crore, or Rs 17.3 per share, in the third quarter ended December 31, 2018, as compared to Rs 9,420 crore, or Rs 16 a share, in the same period of the previous financial year, the company said.

This is the highest quarterly profit by any private company. State-owned Indian Oil Corp (IOC) holds the distinction of posting highest ever quarterly profit by any Indian firm when it had reported a net profit of Rs 14,512.81 crore in January-March 2013.

RIL saw its revenue jump by 56% to Rs 171,336 crore in October-December 2018.

“In our endeavour to consistently create more value for our country and stakeholders, our company has become the first Indian private sector corporate to cross Rs 10,000 crore quarterly profits milestone,” RIL chairman and managing director Mukesh Ambani said.

Jio Q3 profit increases by 65% to Rs 831 crore

Reliance Jio, the group’s telecom arm, posted a standalone net profit of Rs 831 crore, which was 65% more than the previous year, as subscriber base swelled to 280.1 million from 252.3 million at the end of September quarter.

Earning per subscriber marginally moderated to Rs 130 per month from Rs 131.7 previously. — PTI 

Stellar performance 

• This is the highest quarterly profit by any private company
• State-owned Indian Oil Corp holds the distinction of posting highest ever quarterly profit of Rs14,512.81 crore in January-March 2013
• The revenue of the company jumped by 56% to Rs 171,336 crore in October-December 2018

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