Reliance Industries Ltd on Friday reported an 11 per cent 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, or Rs 23.66 per share, in April-June - the first quarter of current 2023-24 fiscal year - compared with Rs 17,955 crore, or Rs 26.54 a share, earning a year back, according to a company's stock exchange filing.
The net profit was also lower quarter-on-quarter when compared with record Rs 19,299 crore earnings in the preceding three months ended March 31.
1 December 2025
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Revenue from operations fell to Rs 2.1 lakh crore from Rs 2.22 lakh crore in the year-ago period and Rs 2.16 lakh crore in January-March 2023. This was primarily because of lower crude oil prices and the shrinking of cracks or margins on fuels such as diesel.
