Reliance Industries Results - Corona Hit Reliance Industries, Profit Decreased By 7% In April-June_Pic Credit Google

Reliance Industries Results – Corona Hit Reliance Industries, Profit Decreased By 7% In April-June

Reliance Industries Results – Corona Hit Reliance Industries, Profit Decreased By 7% In April-June – The second wave of Corona caused an enormous furore in April and should . Reliance Industries Limited was also not untouched by the effect of this wave affecting the economy. within the first quarter (April-June) of the current financial year, the consolidated net income of the company has decreased by 7.2% compared to the previous year.

Reliance Industries Results – Corona Hit Reliance Industries, Profit Decreased By 7% In April-June

Result of Reliance Industries

Reliance Industries announced its quarterly results on Friday. Accordingly, the consolidated net profit of the company has declined by 7.2% to Rs 12,273 crore within the April-June quarter as compared to the previous year. Whereas in April-June 2020, the company’s consolidated net profit was Rs 13,233 crore.

However, within the pre-tax situation, the company’s profit before exceptional items and taxes increased by 66.7% to Rs 13,806 crore. While the company’s operating income has increased within the same period.

Operational income of the company increased by 58%

The operational revenue of Reliance Industries has grown by 58.2% during this period. The company’s revenue during this period stood at Rs 1,44,372 crore. Whereas within the corresponding quarter of the last financial year, this amount was Rs 91,238 crore. At an equivalent time, the company’s total revenue after income from other sources has been Rs 1,48,591 crore during this period.

There was a nationwide lockdown during this quarter last year, while in April and may this year, the country had to face a severe second wave of corona. At an equivalent time, because of the acute shortage of oxygen, its industrial use was also banned. Reliance supplied free oxygen on a large scale from its Jamnagar refinery during this period.

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Jio platforms earning huge

However, during this period the company’s subsidiary Jio Platforms Limited has made tremendous earnings. The company’s net profit grew 44.9% year-on-year at Rs 3,651 crore within the review quarter. At an equivalent time, the company has also made profit within the retail sector. Reliance Retail Ventures Limited’s net income has increased by 123% to Rs 962 crore as compared to last year.

Mukesh Ambani happy with company’s performance

Regarding the results of the company, Mukesh Ambani said that even within the challenging times of the second wave of Corona, Reliance has given good performance. The results of the first quarter of 2021-22 show the flexibility of Reliance to work in several sectors. The company’s business comprises a large portion of the consumer basket.

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