Windfall tax impact: Reliance net profit flat in Q2 at Rs 13,656 crore

Mukesh Ambani-led Reliance Industries (RIL) on Friday reported a consolidated net profit (attributable to the company’s owners) of Rs 13,656 crore for the quarter ended September 30, 2022 (Q2).

This was almost flat over the year-ago period figure of Rs 13,680 crore, but fell well short of expectations.

A poll of analysts by Bloomberg had pegged net profit at Rs 14,457 crore for Q2 of 2022-23.

The oil-to-telecom conglomerate’s gross sales for the quarter came in at Rs 2.53 trillion, up 32 per cent over the year-ago period.

Excluding goods and services tax and excise duty, net sales surged 37.3 per cent year-on-year  to