Reliance Q2 net profit up 18.3% YoY at Rs 11,262 crore

Reliance Industries on Friday reported an 18.3 per cent rise in consolidated net profit to a record Rs 11,262 crore for the second quarter of the current fiscal on the back of a turnaround in refining margins and continued rise in consumer businesses of retail and telecom.

Net profit in July-September stood at Rs 11,262 crore, compared to Rs 9,516 crore profit in the same period a year back. Consolidated revenue rose to a record Rs 163,854 crore, the company said in a statement.

Consumer businesses, which till last year accounted for a quarter of the company's pre-tax profit, contributed a third of EDITDA in Q2.

Retail business EBITDA rose 13 per cent to Rs 2,322 crore, while telecom arm Jio posted a net profit of Rs 990 crore.