Shares of Reliance Industries were trading 2% above on 30 October after the company reported a stellar July-September quarterly report. 

The oil-to-telecom conglomerate reported a 29.7% year-on-year (YoY) increase in its consolidated net profit at Rs 19,878 crore for the quarter under review against Rs 15,332 crore reported in the same quarter of the previous fiscal year. Higher EBITDA and a strong retail business drove the surge in net profit. 

The company’s revenue from operations saw a marginal gain of 1.2% YoY to Rs 2.55 lakh crore during the quarter against Rs 2.52 lakh crore reported in the year-ago quarter. 

The company’s EBITDA saw a healthy growth of 30.2% YoY to Rs 44,867 crore for Q2FY24 against Rs 34,447 crore reported during the same quarter of the previous financial year. The EBITDA margin for the quarter is at 17.5%, expanding by 350 basis points during the quarter. 

Mukesh D Ambani, Chairman and Managing Director of Reliance Industries Limited, said, “Strong operational and financial contribution from all business segments has helped Reliance deliver another quarter of robust growth.”

At 3:30 pm, the shares of Reliance Industries closed 2.04% higher at Rs 2,312 on NSE.