Reliance Industries on Friday reported a 13.5 per cent rise in consolidated net profit to a record Rs 11,640 crore in the third quarter ended December 31, 2019, on the back of continued rise in consumer businesses of retail and telecom.
Net profit in October-December stood at Rs 11,640 crore, compared to Rs 10,251 crore profit in the same period a year back. Consolidated revenue however dipped 1.4 per cent to Rs 168,858 crore, the company said in a statement.
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Consumer businesses, which till last year accounted for a quarter of the company’s pre-tax profit, contributed a third of EDITDA in the third quarter. Retail business EBITDA rose 58 per cent to Rs 2,389 crore while telecom arm Jio posted a net profit of Rs 1,350 crore.
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Source: Financial Express
