HomeTech newsRIL Q1 Results: Reliance Industries' profit at Rs 17,955 crore in the...

RIL Q1 Results: Reliance Industries’ profit at Rs 17,955 crore in the first quarter

Reliance Industries Q1 Results: Reliance Industries has declared the results for the first quarter of the financial year 2022-23. The net profit of Reliance Industries has increased by 46.3 percent in the first quarter. The company has informed the stock exchange that its net profit in the April-June quarter stood at Rs 17,955 crore, as against Rs 12,273 crore in the first quarter of 2021-22.

Revenue from operations of Reliance Industries grew 54.5 per cent to Rs 2,23,113 crore as compared to Rs 1,44,372 crore in the same quarter last year. Whereas in the fourth quarter of 2021-22, the revenue was Rs 2,11,887 crore. However, the revenue and profit of Reliance has been less than the market estimates. The market was expecting a revenue of Rs 2.4 lakh crore.

On the announcement of the results of Reliance Industries, the company’s chairman Mukesh Ambani said that the energy market has been affected due to the global political crisis. The company’s O2C has done well. Despite the challenging situation, the company has produced good results. He said that he is also very happy with the progress of the consumer platform. However, due to high prices in the global energy market, Reliance has declared the highest revenue in this quarter.

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