New Delhi (TIP)- Reliance Industries (RIL) on Friday, July 21, reported an 11% drop in its June quarter net profit largely due to weak oil-to-chemical (O2C) vertical and higher interest and depreciation cost. Net profit was Rs 16,011 crore in April-June period of the current fiscal — compared with Rs 17,955 crore a year ago, according to a company’s stock exchange filing.
Revenue fell to Rs 2.1 lakh crore from Rs 2.22 lakh crore in the year-ago period.
Reliance Jio on Friday reported over 12% rise in net profit to Rs 4,863 crore in the June 2023 quarter, the company said in a filing
The total income during the reported quarter rose to Rs 24,127 crore from Rs 21,995 crore a year ago.
Jio Financial valued at over $20 bn
JFSL, the demerged financial services unit of Reliance Industries, was valued at over $20 billion, ahead of Adani Group firms, Coal India and IndianOil.
Jio Financial Services Ltd (JFSL) stock was priced at Rs 261.85 based on the difference between Reliance’s stock price at Wednesday’s close of Rs 2,841.85 and Rs 2,580, its price at the end of an hour-long special pre-market session.
Infosys Q1 net profit up 11% at Rs 5,945 cr
IT major Infosys reported a 10.9% rise in its net profit in the quarter ending June 30 to Rs 5,945 crore as compared to Rs 5,360 crore in the same quarter last year. In constant-currency (CC) terms, the company’s revenue grew 4.2% year-on-year (YoY) to Rs 37,933 crore. The operating margin for the quarter was stable at 20.8%. Its attrition declined to 17.3% during the quarter.