Reliance Industries Q3 Results: Net profit rises 7.3% to ₹18,540 cr, shares jumped 2%
Shares of Reliance Industries Ltd shares jump by 1.89 per cent to ₹1,292.70 on the BSE today, following the announcement of a 7.3 per cent y-o-y increase in net profit to ₹18,540 crore for the second quarter of the current fiscal year.
The company’s revenue from operations also saw a significant boost, climbing from ₹2.27 lakh crore in the same quarter last year to ₹2.43 lakh crore this year.
Jio Platforms, Reliance’s digital services arm, reported a strong performance with an 11.9 per cent y-o-y increase in Average Revenue Per User (ARPU) to ₹203.3. This growth was attributed to a recent tariff hike.
Reliance Retail, the company’s retail division, continued its impressive growth trajectory with double-digit increases in both revenue and net profit sequentially. Net revenue surged by 19.6 per cent q-o-q to ₹79,595 crore, while net profit saw a 21 per cent quarter-on-quarter rise to ₹3,458 crore.
