Reliance Industries' third quarter net profit up 5.4%

Reliance Industries Limited (RIL)'s standalone net profit went up by 5.4 per cent to Rs 8,454 crore for the third quarter of the current fiscal, a company statement said here on Friday.

The company's standalone revenue for the third quarter increased by 18.4 per cent to Rs 78,864 crore.

However, the consolidated net profit of the company increased by 25.1 per cent to Rs 9,423 crore during the quarter.

"I am happy to share record-setting consolidated quarterly earnings to mark the 40th anniversary of Reliance's listing in January 1978. Fittingly, this quarter marks the culmination of our petrochemical expansion projects and the first positive net profit contribution from our newest business line - digital services," said Mukesh D. Ambani, Chairman and Managing Director, RIL.

"Our refining business has delivered 12 consecutive quarter of double-digit refining margins, demonstrating operating excellence and healthy industry fundamentals. Benefits of the large investments in petrochemical business are beginning to show with the segment reporting its highest ever earnings," he said.

"We are excited about the prospects of both our energy and consumer businesses due to strong growth in Indian markets and constructive macro environment," Ambani added.

--IANS

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