RIL Q1 profit drops 11% to Rs 16,011 crore

New Delhi, July 21

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Reliance Industries (RIL) on Friday reported an 11% drop in its June quarter net profit largely due to weak oil-to-chemical (O2C) vertical and higher interest and depreciation cost. Net profit was Rs 16,011 crore in April-June period of the current fiscal — compared with Rs 17,955 crore a year ago, according to a company’s stock exchange filing.

Revenue fell to Rs 2.1 lakh crore from Rs 2.22 lakh crore in the year-ago period.

Jio net up 12% at Rs 4,863 cr

Reliance Jio on Friday reported over 12% rise in net profit to Rs 4,863 crore in the June 2023 quarter, the company said in a filing

The total income during the reported quarter rose to Rs 24,127 crore from Rs 21,995 crore a year ago.