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Reliance Shatters Profit Records: Oil-to-Chemicals Fuels Surge
31 Oct
Summary
- Reliance Industries achieved a record net profit of ₹29,550 crore for the September quarter.
- The oil-to-chemicals division's Ebitda surged 68%, driven by elevated energy prices.
- Total revenue rose 28.5% year-on-year to a record ₹3.38 lakh crore.
Reliance Industries Ltd. (RIL) has reported a record consolidated net profit of ₹29,550 crore for the September quarter, marking a significant 34% increase compared to the same period last year. This performance exceeded market expectations, driven by robust growth in its oil-to-chemicals (O2C) and digital businesses.
The company's revenue from operations surged by 28.5% year-on-year, reaching a new record of ₹3.38 lakh crore. This expansion was largely attributed to higher contributions across its diverse business verticals. RIL's O2C division was a standout performer, with its Ebitda increasing by a substantial 68% to ₹25,203 crore.
This impressive rise in the O2C segment's earnings was fueled by tight fuel markets, improved petrochemical margins, and strong domestic demand. The company benefited from optimized feedstock sourcing and product placement strategies, enhancing its capture of market advantages. Elevated crude oil and transportation fuel prices, partly influenced by geopolitical tensions, further bolstered O2C revenues.
Reliance also announced its board approved a plan to raise up to ₹15,000 crore through the private placement of non-convertible debentures. RIL Chairman and Managing Director Mukesh Ambani highlighted the company's ability to navigate external volatility through its domestic orientation and operational discipline, underscoring the strength and resilience of its integrated business model.
