Reliance Industries Limited (RIL) has announced a strong financial performance for the third quarter ending December 31, 2024, with a consolidated net profit of ₹18,540 crore, marking a 7.4% increase from the same period last year.
Revenue Growth Across Key Segments
The company's revenue from operations rose to ₹2.43 lakh crore, up from ₹2.27 lakh crore in the corresponding quarter of the previous year.
Retail Segment: The retail division reported a nearly 7% increase in revenue, reaching ₹79,595 crore, driven by heightened consumer demand during the festive season.
Telecom Division: Reliance Jio Infocomm, the telecom arm, saw a substantial 24.4% rise in profit, benefiting from tariff hikes and an increase in 5G subscribers.
Oils-to-Chemicals (O2C) Business: The O2C segment experienced a 6% revenue increase to ₹1.5 lakh crore, attributed to higher production levels.
Chairman's Statement
Chairman Mukesh Ambani highlighted the company's strategic focus on digital services and retail expansion, noting the strong uptake of JioBharat phones and JioAirFiber services, which have contributed to the growth of the digital services business.
Outlook
RIL's diversified business model and strategic investments in digital and retail sectors have positioned the company for sustained growth. The robust performance in Q3 reflects the company's resilience and adaptability in a dynamic market environment.
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