Comments
In the December 2017 quarter, the consolidated profit of Reliance Industries grew 25 per cent y-o-y to ₹9,423 crore. This strong show was led by the petrochemicals segment — healthy volume growth and better margins translated into operating profit growth of 73 per cent y-o-y to ₹5,753 crore.
This offset the marginal fall in operating profit in the refining segment to ₹6,165 crore due to dip in crude volumes refined. Besides these mainstays, the digital business (RJio) established itself as a profit driver, posting its first quarterly net profit (₹504 crore) aided by subscriber additions and cut in interconnectivity usage charges.
The organised retail business also delivered with operating profit more than doubling. Oil and gas exploration though struggled with losses continuing due to production challenges. The results vindicate key expectations — path to profit of RJio and expansion-led gains in core businesses — that have driven the stock’s 80 per cent rally over last year.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.