Record-Breaking Quarterly Profit for Reliance Industries

Reliance Industries, India's largest company by market value, has announced a staggering 76% increase in its quarterly profit, reaching Rs 30,681 crore. This remarkable achievement was significantly boosted by the sale of its stake in Asian Paints, contributing Rs 8,924 crore to the profits.

Strong Performance Across Key Business Segments

The company's oil-to-chemicals (O2C) business saw an 11% increase in operating profit, thanks to favorable margins and improvements in the polyester chain. Meanwhile, the digital services arm, Jio, reported a 23% surge in operating profit, with ARPU rising to Rs 209.

Retail and Oil & Gas Business Updates

Retail business operating profit climbed by 13%, despite challenges in consumer electronics due to early monsoons. Conversely, the oil & gas segment experienced a 4% decline in operating profit, attributed to lower revenues and higher operating costs.

Financial Health and Future Investments

With a net debt of Rs 1.17 lakh crore and cash reserves of Rs 2.20 lakh crore, Reliance Industries is poised for further growth. The company has already invested Rs 29,875 crore in capital expenditure during the quarter.