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HomeBusinessReliance Industries standalone profit in Q2 is Rs. 6,561 crore

Reliance Industries standalone profit in Q2 is Rs. 6,561 crore

Reliance Industries Limited on Friday reported a standalone net profit of Rs 6,561 crore in Q2. The Chairman and Managing Director of Reliance Industries Mukesh Ambani congratulated everyone on the company’s performance.

He said, “We achieved record levels of EBITDA and profits for the quarter, underscoring our ability to optimally utilize our assets across the value chain to leverage favorable market conditions. Refining business performance was notable, as it benefited from a combination of high utilization levels, advantageous crude market opportunities and strong global fuels demand. Petrochemicals segment performance reflects strong volume growth, product mix improvement and lower energy costs.”

Commenting on the results, he said, “Reliance Retail achieved a milestone of Rs. 5,000 crore quarterly turnover mark for the first time, reflecting continuing growth momentum in physical retailing. We maintained a rapid pace of construction activity during the quarter. The Company’s world-scale petcoke gasification facility and ethylene cracker complex remains on track for its planned 2016 start-up. In Digital Services, we have substantially completed the network roll-out across the country and initiated the process of beta testing of our network and platforms.”

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