HomeNewsGuidesReadsPodcastsTRANSFIN. EOD
  1. News
  2. Explained

Reliance Industries Q3 Results: Profits Rises 13.55%

Professor of Financial Economics and Part-time Value Investor, Transfin.
Jan 18, 2020 7:50 AM 2 min read

RIL reports 13.55% rise in profit in Q3, beating estimates at ₹11,640cr on the back of robust growth in telecom and retail verticals. 


Reliance Industries reports 13.55% rise in Q3 profit.

Like a Star: Oil-to-telecom conglomerate Reliance Industries Ltd (RIL) reported 13.55% YoY rise in Q3 profit, beating estimates at ₹11,640cr ($1,644m), on the back of robust growth in telecom and retail verticals.


Consolidated net profit for the December quarter rose to a record ₹11,640cr ($1,641m) while revenue fell 1.4% to ₹1,68,858cr ($23,811m) because of weaker prices of oil and chemicals. On a standalone basis, net profit rose 7.4% to ₹9,585cr ($1,351m) while revenue fell 13.1% to ₹93,741cr ($13,218m). 


Revenue from the petrochemicals segment stood at ₹36,909cr ($13,218m) for the quarter, falling 19.1% from ₹45,619cr ($6,431m) in the same quarter last year.


Telecom venture Reliance Jio Infocomm reported 62.5% rise in net profit to ₹1,350cr ($190m). Its subscriber base grew 32% annually to 370m, with each user spending an average of ₹128.4 a month during the quarter, the company said in a statement.


Reliance Retail also posted robust YoY revenue growth of 27% to ₹45,327cr ($6,391m).  ET Earnings


Unlikely to close Saudi Aramco deal by March-end, says CFO.

We Regret the Delay: Reliance Industries is unlikely to close the $15bn-worth deal announced last year for 20% stake sale in its oil to chemicals business to Saudi Aramco by March 31 this year, noted RIL’s joint chief financial officer V Srikanth.


“The deal is making very good progress, but it’s a large transaction/large cross-border deal which is complex. I cannot comment on the timeline,” he said. Hindu BusinessLine


Hand-curated Business News from Top Publishers & Platforms, Richly Crafted to Fit into One Wholesome Email. Subscribe Now to receive a nuanced 360 Degree account of key events from the World of Business and Finance every day.