Shares of Reliance Industries were up over 1 per cent in a strong market on Friday morning, ahead of Q2 results scheduled later in the day. The company had reported a net profit of Rs 12,273 crore for the previous quarter ended June 30, 2021, a decline of 7.25 per cent from the same quarter last year on the back of increase in total expenses. At 11:11 am, shares of Reliance Industries were trading at Rs 2658, up 1.2 percent on the BSE.
Reliance Industries’ total expenses grew 50 per cent year-on-year to Rs 1.31 lakh crore and revenue from operations grew 58 per cent to Rs 1.44 lakh crore in the June quarter.
Reliance Retail’s net profit more than doubled to Rs 962 crore and EBITDA at Rs 1,941 crore in the June quarter. And Reliance Jio’s net profit jumped 45 per cent year-on-year to Rs 3,651 crore in the June quarter, on account of nearly 10 per cent growth in revenue.
BSE Sensex and NSE Nifty are trading with a gain of 0.7 per cent at that time, having recorded a fall of 3 days.