Reliance Industries Q2 net up 1.5 per cent, turnover tops Rs 1 lakh cr

Reliance Industries (RIL) has reported a 1.5 per cent increase in net profit and became the first company in the country to achieve sales of more than Rs one lakh crore in a quarter.

Profit rose to Rs 5,490 crore in July-September from Rs 5,409 crore a year earlier, the company said in a statement. Turnover, or sales, soared 14.2 per cent to Rs 1,06,523 crore.

Net profit in the first half of the financial year increased 9.4 per cent to Rs 10,842 crore.

RIL Chairman and Managing Director Mukesh Ambani said the performance reflects "the resilience of our business model in a period of volatility and uncertainty."

"Our diversified and integrated petrochemicals business captured margins across segments ? delivering near-record profit levels even as the domestic economy slowed," Ambani said.

Shares of Reliance Industries closed 0.84 per cent higher at Rs 870.25 on BSE, before the company declared its profit figures.