Published on July 30, 2018
India’s second most valuable company, reported a consolidated net profit of ₹9,459 crore in the quarter ended June, up 17.9% year-on-year, fuelled by its petrochemical and consumer businesses. The conglomerate, with interests in businesses as diverse as telecom, retailing and oil refining, saw its revenue rise 9.7% to ₹141,699 crore.
RIL’s petrochemical business, which represents around 30% of the company’s revenue, boosted profits as volumes rose 35% and realization was 24% higher, as its recently commissioned paraxylene (PX) plant performed at full capacity.
Revenue from refining and marketing segment increased by 42.9% year-on-year to ₹95,646 crore while operating profit declined by 16.8% to ₹5,315 crore. Lower crude throughput due to planned turnaround of one crude distillation unit and softer refining margins dented profits, the company said.
“The scalability of our consumer business platforms is driving unprecedented value generation for our customers, our country and our shareholders,” Ambani said.
