RIL Q1 profit up 6.8% at Rs 10,104 crore

New Delhi, July 19 

Richest Indian Mukesh Ambani-led Reliance Industries today posted a 6.8% rise in June quarter net profit as the share of its consumer businesses of retail and telecom saw a steady rise to now account for almost a third of its margin, countering the weakness in traditional petrochemical and refining business.

The oil-to-telecom conglomerate reported a net profit of Rs 10,104 crore, or Rs 17.05 per share, in April-June, up from Rs 9,459 crore, or Rs 15.9 a share, in the same period of the previous financial year, the company said. 

While the profit rose year-on-year, it was lower than the highest ever earning of Rs 10,362 crore in the preceding January-March period.

Standalone net profit of Rs 9,036 crore, up 2.4% over the previous year, was a record.

It clocked a record consolidated revenue of Rs 1,72,956 crore in Q1 on the back of robust retail sales.

The company opened more retail stores and added 24.6 million subscribers to its Jio mobile phone service that helped increase the profitability of the venture as its traditional oil refining and petrochemical business witnessed margin pressures.

Reliance reported record pre-tax profit from its retail and telecom businesses. The two now account for nearly 32% of EBITDA, up from close to 25%, previously. — PTI