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Reliance Industries Q1 net drops 7 pc on COVID hit to retail business

Reliance Industries Ltd reported a 7 per cent drop in its June quarter net profit as the retail business got hit by the second wave of COVID infections.

Reliance Industries Q1 net drops 7 pc on COVID hit to retail business
Reliance Industries Q1 net drops 7 pc on COVID hit to retail business
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Published : Jul 23, 2021, 9:53 PM IST

New Delhi: Reliance Industries Ltd on Friday reported a 7 per cent drop in its June quarter net profit as the retail business got hit by the second wave of COVID infections.

Consolidated net profit of Rs 12,273 crore in April-June compared with Rs 13,233 crore a year, the company said in a stock exchange filing. Revenue from operations rose to Rs 144,372 crore from Rs 91,238 crore. While oil-to-chemical (O2C) business rebounded, the retail business took a hit from the second wave of the pandemic.

New Delhi: Reliance Industries Ltd on Friday reported a 7 per cent drop in its June quarter net profit as the retail business got hit by the second wave of COVID infections.

Consolidated net profit of Rs 12,273 crore in April-June compared with Rs 13,233 crore a year, the company said in a stock exchange filing. Revenue from operations rose to Rs 144,372 crore from Rs 91,238 crore. While oil-to-chemical (O2C) business rebounded, the retail business took a hit from the second wave of the pandemic.

Read: Reliance Retail to grow 3x in next 3-5 years, create 10 lakh jobs: RIL Chairman

(PTI)

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