Reliance Industries reports profit growth driven by consumer divisions
Date
1/18/2025 3:13:22 AM
(MENAFN) Indian conglomerate Reliance Industries recorded a 7.38 percent year-on-year rise in profit for the December quarter, supported by robust performance in its consumer-focused businesses.
Led by Mukesh Ambani, Asia's wealthiest individual, Reliance has solidified its position as India's most valuable company by market capitalization, expanding aggressively into retail, telecommunications, and green energy.
Chairman Ambani praised the resilience of the petrochemicals division, noting its ability to navigate ongoing volatility in global energy markets. He also highlighted strong growth in the digital services sector, driven by consistent subscriber growth and improved customer engagement. The retail segment, he added, successfully leveraged festive season demand to boost performance.
Despite its diversification, Reliance remains significantly reliant on its oil-to-chemicals business, which faced challenges last year, leading to three consecutive quarters of profit decline. However, the company reversed this trend, posting a net profit of 185.40 billion rupees (USD2.139 billion), slightly exceeding analyst estimates of 183.26 billion rupees.
Revenue from operations climbed 6.97 percent year-on-year to 2.43 trillion rupees, reflecting growth across its various divisions.
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