Reliance Industries beats Street estimates, reports Rs 7,704 crore profit for Q2!

Reliance on Thursday reported a 17.90 per cent year-on-year (YoY) growth in standalone net profit at Rs 7,704 crore for the Sepetmber quarter. The company had reported a net profit of Rs 6,534 crore for the corresponding quarter last year.

The profit number came in line with a Rs 7,250 crore profit estimate that analysts had forecast in an ET Now poll.

The Mukesh Ambani-led company, which owns the world’s biggest refinery at Jamnagar, said its revenues fell 0.27 per cent YoY to Rs 64,340 crore for the quarter, compared with Rs 64,515 crore reported for the same quarter last year. This was against Rs 62,000 crore sales that analysts had anticipated in the ET Now poll.

The company had a cash of $12.4 billion as of September 30, while outstanding debt stood at $28.4 billion. The company incurred a capex of $2.6 billion during the quarter.

 

LEAVE A REPLY

Please enter your comment!
Please enter your name here