Indian Reliance Industries’ operational revenue soars by 54 ...| MENAFN.COM

Monday, 23 May 2022 05:38 GMT

Indian Reliance Industries’ operational revenue soars by 54 percent


(MENAFN) Reliance Industries, the Indian giant led by billionaire Mukesh Ambani, announced a 42 percent acceleration in financial third quarter net profit as the corporation registered improvement across all of its businesses, while stronger demands for oil goods aided the corporation's fundamental chemicals-to-oil sector.

The corporation's net profit contributed to its stakeholders jumped by USD2.5 billion, 185.5 billion rupees, in the last quarter of 2021, compared to the same quarter the previous year, the corporation stated on Friday. Analysts polled by a news agency predicted a profit of USD2,05 billion, 152.6 billion rupees, on median. Operational revenue soared by roughly 54 percent annually to USD25.7 billion.

Mr Ambani, Reliance Industries’ chairman and managing director stated that, “Reliance has posted best-ever quarterly performance in Q3 FY22 with strong contribution from all our businesses. Our consumer businesses, retail and digital services have recorded highest ever revenues and Ebitda [earnings before interest, taxes, depreciation, and amortisation].”

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