Companies

Reliance Industries shares jump nearly 3 pc after earnings

PTI New Delhi | Updated on October 25, 2021

Mukesh Ambani's firm on Friday had reported a 43 per cent jump in its September quarter net profit

Shares of Reliance Industries on Monday gained nearly 3 per cent after the company reported a 43 per cent jump in its September quarter net profit.

The market heavyweight stock jumped 2.73 per cent to ₹2,699 on BSE. On NSE, it gained 2 per cent to ₹ 2,680.

Later, the stock gave up early gains on profit-taking and was trading nearly 1 per cent lower.

Billionaire Mukesh Ambani's firm on Friday reported a 43 per cent jump in its September quarter net profit as its businesses from oil to retail fired on all cylinders, growing both sequentially and on a year-on-year basis.

Also read: Reliance Industries Q2 net up 43% on all-round growth

Net profit of ₹13,680 crore, or ₹20.88 per share, in July-September period compared with ₹9,567 crore, or ₹14.84 a share, in the same period a year back, the company said in a statement.

While better realisation and a sharp rise in crude oil prices benefited the old-economy business, retail saw footfalls at stores reach pre-Covid levels and per user earning from telecom business rose.

Revenue was up 49 per cent at ₹1,91,532 crore.

Reliance operates four business verticals - the oil-to-chemical (or O2C) business includes its oil refineries, petrochemical plants, and fuel retailing business; retail business that houses brick-and-motor stores and e-commerce; digital services that cover telecom arm Jio; and new energy business.

Published on October 25, 2021

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