Mukesh Ambani-owned Reliance Industries on October 30 has reported strong earnings for the September 2020 quarter driven by the telecom and retail businesses.
Consolidated profit for the September quarter stood at Rs 9,567 crore, against adjusted profit at Rs 8,380 crore in the June quarter.
The numbers beat market estimates as a CNBC-TV18 poll had estimated the net profit at Rs 8,134 crore.
The reported profit at Rs 13,248 crore in the June quarter had included an exceptional income of Rs 4,966 crore following stake sale to BP in Reliance BP Mobility.
Consolidated revenue from operations for the quarter came in at Rs 1,16,195 crore compared to Rs 1,53,384 crore in the previous quarter.
RIL beat estimates on the front of revenue also as a CNBC-TV18 poll had estimated the revenue to the tune of Rs 1.06 lakh crore.
RIL's Q2FY21 EBITDA came at Rs 18,945 crore against CNBC-TV18 poll of Rs 18,153 crore. EBITDA margin came in line at 17 percent against the CNBC-TV18 poll's estimate of 17.1 percent.
In the earlier version of this story, we had inadvertently attributed Jio numbers to RIL. The error is regretted.
The stock of RIL has rallied 35 percent in 2020, while it has jumped 131 percent from March 23's closing low. It hit a market capitalisation of Rs 16 lakh crore on September 16 while touching a life high of Rs 2,369.35 per share.
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