New Delhi: Reliance Industries Ltd (RIL) on Thursday reported a rise of 30.6 per cent, including the effect of exceptional items, in its consolidated net profit for the quarter ended June 30 of FY 2020-21 on a year-on-year (YoY) basis.
Accordingly, the company's consolidated net profit during the first quarter of FY21 rose to Rs 13,248 crore.
The exceptional item, as reported by the company, is on the gains from the stake sale to BP.
Net profit was Rs 10,141 crore in the same period a year back, the company said in a regulatory filing.
The company's revenue for the quarter was Rs 1,00,929 crore.
"For the quarter ended 30th June, 2020, RIL achieved revenue of Rs 1,00,929 crore ($ 13.4 billion), as compared to Rs 1,74,087 crore in the corresponding period of the previous year," the statement said.
"The decline in revenue was primarily due to fall in O2C revenues, led by sharp decline of 57.6 per cent in average Brent crude price. Retail business also witnessed 17 per cent decline in revenues due to the lockdown and restrictions in store operations. Overall decline in revenue was partially offset by increase in revenue of Digital services business with strong subscriber addition and significant improvement in ARPU," it added.
Besides, the company's cash profit was also higher by 16.7 per cent YoY at Rs 18,893 crore.
The EPS including exceptional items for the quarter was Rs 20.7 per share, an increase of 22.1 per cent YoY.
On a standalone basis, the RIL reported a net profit including exceptional items for the quarter at Rs 9,753 crore, representing a growth of 7.9 per cent on a YoY basis.
The company's cash profit for the quarter was Rs 10,350 crore.
In addition, RIL reported that its standalone exports for the quarter were Rs 32,681 crore.
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Reliance Jio's Q1 net profit surges nearly three times to Rs 2,520 cr
Telecom operator Reliance Jio reported a nearly three fold rise in net profit for the April-June quarter to Rs 2,520 crore.
The telecom giant recorded a 183 per cent rise in net profit from Rs 891 crore reported in the corresponding period of the last fiscal.
In a statement, the company said that its standalone revenue from operations, including access revenues stood at Rs 16,557 crore.
(IANS Report)
