BUSINESS

RIL Q1 Results Consolidated Net Profit Falls 7%

Reliance Industries Ltd (RIL) had reported a consolidated net profit of Rs 12,273 crore for the three months ended June 30, 2021 (Q1FY22). This is a fall of 7.2 per cent from Rs 13,233 crore posted in the same period last year (Q1FY21). 

However, last year’s June quarter profit included an exceptional gain of Rs 4,966 crore. This will mean a 48.4 per cent growth in adjusted profit after tax (PAT) over last year’s Rs 8,267 crore. The oil-to-telecom conglomerate’s revenue from operations rose 58.2 per cent to Rs 1.44 trillion compared to Rs 91,238 crore in the corresponding quarter of last year.

“The Company’s operations and revenue were impacted due to Covid-19. During the current quarter, there is no significant impact other than in retail segment,” Reliance said in an exchange filing.
According to a Bloomberg consensus estimate, RIL was expected to post consolidated net revenue of Rs 1.47 trillion and a net profit of Rs 11,889 crore for the June quarter.

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