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Reliance Q2 Result: Net Profit Down 15 Percent To Rs 9,567 Crore

Jio reports net profit of Rs 2844 crore in September quarter.

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Reliance Industries Limited (RIL) has released the September quarter results. Its telecom subsidiary Reliance Jio has reported tremendous profits in the second quarter (July-September) of the current financial year. Reliance Jio reported a profit of Rs 2844 crore in the second quarter. It has grown by 13% over the April-June quarter. According to Reliance, Jio's revenue from operations in the second quarter stood at Rs 17380 crore.

The net profit of Reliance Industries declined by 15 percent to Rs 9,567 crore in the second quarter of July-September of the current financial year 2020-21. Reliance Industries said in a notice to the stock market on Friday that the company had a net profit of Rs 11,262 crore in the same quarter of FY 2019-20. The company's revenue fell to Rs 1.2 lakh crore in the second quarter of 2020-21 from Rs 1.56 lakh crore in the same quarter 2019-20.

The company reported that the consumer business accounted for 49.6% of the consolidated segment EBITDA in the quarter. Reliance Digital Services had EBITDA of Rs 8,345. In addition, Rs 1,52,056 crore was raised for Jio Platforms and Rs 37,710 crore for Reliance Retail Ventures. In the first half of FY 2020-21, Reliance created around 30,000 jobs. Reliance Retail opened 125 new stores this quarter.

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