Home / Companies / News / RIL profit slips 15% to Rs 9,567 crore as Covid-19 hits oil business

RIL profit slips 15% to Rs 9,567 crore as Covid-19 hits oil business

Revenue in line with estimates; profits beat expectations partly due to lower taxes; Ebitda for refining biz declines 21.4% QoQ

This is the second time the Mukesh Ambani-led RIL has changed the bidding date; the new date is November 15

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Mukesh Ambani, CMD, Reliance Industries

4 min read Last Updated : Oct 31 2020 | 12:19 AM IST

Mukesh Ambani-promoted Reliance Industries (RIL) on Friday reported a 15.1 per cent year-on-year decline in its consolidated net profit to Rs 9,567 crore for the September-ended quarter.

Consolidated net revenue also dipped 25.7 per cent year-on-year to Rs 1.11 trillion because of weak performance in the refining, petrochemicals, and retail businesses.

The profit number beat street estimates while revenue was in line with expectations. In a Bloomberg poll, 10 analysts had estimated consolidated revenue of Rs 1.11 trillion and 11 analysts estimated the company’s consolidated adjusted net income (net profit) at Rs 8,387 crore for the September quarter.

However, part of this was

Topics : Coronavirus Reliance Industries

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