In this article, we will talk about the Reliance Industries Q2 Results. Reliance Industries Limited is one of the best Indian multinational empires. It’s headquartered in Mumbai. Its business includes natural gas, energy, petrochemicals, retail, mass media, and telecommunications. RIL the billionaire Mukesh Ambani-led energy to telecom empire is selected to report its economic results for the first quarter of FY24 today, 27 October 2023. Now many people are super curious to know about the whole information about the news. Here we have more information about the news and we will share it with you in this article, so let’s continue the article.
Reliance Q2 Results 2023
Reliance Industries has been predicted to show healthy YoY development in proceeds and EBITDA (Earnings before interest, taxes, depreciation, and amortization) directed by proper development in the oil to chemicals (O2C) segment, telecom, and retail. Reliance Retail and Reliance Jio have been expected to witness decent growth in operating income. Reliance Retail is an Indian retail firm and a subsidiary of Reliance Industries. This company was founded in 2006 and it’s the largest retailer in India in terms of revenue. Reliance Jio is an Indian telecommunications company and a subsidiary of Jio Platforms. Scroll down to the next page for more information about the news.
Reliance Industries Q2 Earnings Live: Jio Financial Services profit doubles sequentially
Reliance Industries Ltd supported Jio Financial Services said a net profit of 668.2 crores, folding from the previous quarter on the back of higher revenue from operations. This was the first financial company results after it was listed on the stock exchanges on 21 August. Post the demerger of the financial services business of Reliance Industries, asset administration, Jio Financial Services plans to join consumer finance and insurance. You are on the right page for more information about the news, so please read the complete article.
As far as we know, the firm’s entire revenues stood at 608 crores in the September quarter up 47% from the sequential quarter. While interest income in Q2 was lower than in Q1, a premium income of 217 crores in the September quarter strengthened total income. Nuvama Institutional Equities hopes Reliance Industries’ revenue in the quarter finished September 2023 to fall 3% to 2,01,558 crores from 2,07,559 crores in the June quarter. The close net profit of the partnership is predicted to grow 9% to 17,482 crores from 16,011 crores, QoQ. Here we have shared all the information that we had. Stay tuned to us for more updates.