Reliance Industries profit falls 13% to ₹16,971cr revenue ₹2.98Lcr
Business
Reliance Industries, led by Mukesh Ambani, saw its net profit drop 13% in the last quarter to ₹16,971 crore.
Even with this dip, overall revenue actually went up by 13% to ₹2.98 lakh crore, so it's a bit of a mixed bag for the company.
Reliance oil-to-chemicals Jio retail drive growth
Most of that revenue boost came from Reliance's oil-to-chemicals business, digital services (think Jio), and retail segment.
Jio's revenue jumped 13%, helped by more users spending more per month (ARPU now at ₹214).
On the retail side, profits were steady and they opened over 300 new stores, pushing their total past 20,000 locations across India.
Despite some margin pressure and global challenges, Reliance continues to hold strong across multiple sectors.