On Thursday, Reliance Industries Ltd. (RIL) has reported a net profit of Rs 13,248 crore in the April-June quarter, as against Rs 10,141 crore in the same period a year ago. After getting hit in earnings from refining, petchem and retail segments by Covid-19 pandemic, the company has gained from its stake sale as well as from the revenues of Jio.
The net profit in the June quarter increases by 30.6% compared to the same period a year back. The company said it had a one-time gain of Rs 4,966 crore from selling 49% stake in fuel retailing venture Reliance BP Mobility Limited (RBML) to Bp plc.
RIL has reported a decline in its revenue of Rs 1,00,929 crore in the quarter ended on June 30, as compared to its revenue of Rs 1,74,087 crore in the same period the previous year, due to falling in earnings from different segments which includes a sharp decline in the average Brent Crude prices by 57.6%.
Reliance retail arm has a net profit of Rs 431 crore and retail revenue of Rs 31,633 crore in this quarter, only essential services of the company were operational, due to complete lockdown in the country for a long period of time. While the company’s digital arm Jio, had a net profit of Rs 2,520 crore in the quarter ended in June and a growth of 183%, as compared to Rs 891 crore a year-ago period. The revenue of Jio including access revenues for the quarter rose to Rs 19,513 crore by 33.7%.

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