Reliance Q1 Profit Jumps 23% to Rs 20,946 Cr, But Retail Arm Drags With Revenue Down 8% QoQ
Reliance Industries posted a 23% rise in Q1 profit to Rs 20,946 crore, led by O2C and oil & gas margin expansion. Reliance Retail was the weak spot, with revenue falling 8% sequentially to Rs 90,409 crore and Ebitda down 9% to Rs 6,309 crore at a 6.98% margin. Jio ARPU held at Rs 215.60 across 53.3 crore subscribers.
Reliance Industries Q1 profit rose 23% to Rs 20,946 crore on strong O2C and oil & gas margins, but its retail arm stayed a drag with revenue down 8% and Ebitda down 9% sequentially.