Reliance Industries Q3 Profit Down 15%

(RTTNews) - Reliance Industries Ltd. reported that its third quarter net profit attributable to owners of the company declined about 15% to 15,792 crore Indian rupees from last year.

But quarterly profit after tax, before considering impact of exceptional item, marginally improved by 0.6% year-over-year at 17,806 crore rupees or $2.2 billion.

Gross revenue was 240,963 crore rupees or $29.1 billion, up 14.8% from the previous year, supported by continuing growth momentum in consumer businesses. Digital Services segment achieved 20.4% year-over-year growth while Retail segment grew by 17.2% year-over-year. Higher realization in O2C business with increase in energy prices along with nearly 2x growth in Oil & Gas business also contributed to growth in revenue.