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18 November, 2018 18:27 IST
Reliance Q3 profit up 25.5%; GRM at USD 11.6/bbl
Source: IRIS | 19 Jan, 2018, 06.34PM
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Reliance Industries (RIL) disclosed a good increase in consolidated net profit for the quarter ended December 2017. During the quarter, the profit of the company gained 25.53% to Rs 94.45 billion from Rs 75.24  billion in the same quarter previous year.
 
Total Income for the quarter rose 20.47% to Rs 1047.18 billion, compared with Rs 869.25 billion for the prior year period.

Mukesh D. Ambani, Chairman and Managing Director, Reliance (Q,N,C,F)* Industries, said, ''I am happy to share record-setting consolidated quarterly earnings to mark the 40th anniversary of Reliance’s listing in January 1978. Fittingly, this quarter marks the culmination of our petrochemical expansion projects and the first positive net profit contribution from our newest business line-Digital Services.

Our refining business has delivered 12 consecutive quarter of double-digit refining margins, demonstrating operating excellence and healthy industry fundamentals. Benefits of the large investments in petrochemical business are beginning to show with the segment reporting its highest ever earnings.

I would like to thank all our customers for partnering with us in this revolution which has made India a global digital powerhouse. I congratulate all our employees and partners for the strong performance. Our commitment is to keep pushing newer innovative products which would radically transform customer lives and generate huge societal value.

Jio's strong financial result reflects the fundamental strength of the business, significant efficiencies and right strategic initiatives. Jio has demonstrated that it can sustain its strong financial performance.

We are excited about the prospects of both our energy and consumer businesses due to strong growth in Indian markets and constructive macro environment.''

Shares of the company gained Rs 10.05, or 1.09%, to settle at Rs 929.35. The total volume of shares traded was 600,361 at the BSE (Friday).



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