Reliance Shares Up Over 1 PC Post June Quarter Earnings

New Delhi: Shares of Reliance Industries went up by over 1 per cent on Monday after the country’s most valuable company reported record quarterly core profit and EBITDA for the June quarter, on strong performances across its oil-to-chemicals and telecom businesses.

The bellwether stock climbed 1.48 per cent to Rs 1,346.25 on the BSE.

At the NSE, it went up by 1.40 per cent to Rs 1,345.90.

Its consolidated revenue rose 25.4 per cent year-on-year to Rs 3.12 lakh crore, the oil-to-telecom conglomerate said in a statement on Friday.

On a recurring basis – stripping out a one-off Rs 8,924 crore gain from the sale of listed investments in the year-ago quarter – EBITDA climbed 10.1 per cent to a record Rs 54,067 crore, while profit after tax rose 6.1 per cent to a record Rs 23,196 crore.

Including that one-time gain in the year-ago base, however, EBITDA was down 6.8 per cent, and profit attributable to owners of the company fell 22 per cent year-on-year to Rs 20,946 crore, underscoring how last year’s exceptional item flattened the comparison, even as underlying operations strengthened.

The resilient earnings came in a quarter marred by elevated crude prices following the Iran war. The supply-chain disruptions that followed the war led the company to raise LPG production by diverting streams it otherwise used to produce value-added petrochemicals.

Core earnings in the oil-to-chemicals business, which includes its twin refining assets and petrochemical plants, rose 17.2 per cent from a year earlier.

Telecom business continued to be a key driver, reporting a core earnings growth of 15.1 per cent, a 533-million strong subscriber base and expanding revenues from technology investments.

(Disclaimer: Except for the headline, this article has not been edited by HDFC Sky editorial team and is auto-generated from PTI feed.)