Oct 17 (Reuters) – Indian billionaire Mukesh Ambani’s Reliance Industries (RELI.NS) posted a 9.7% rise in quarterly profit on Friday, driven by robust performance at its core energy business, while steady growth in digital services also helped.
Consolidated profit came in at 181.65 billion rupees ($2.06 billion) for the quarter ended September 30, compared with 165.63 billion rupees a year ago.
Sign up here.
The earnings come as Reliance benefits from stronger crude prices and robust fuel demand that lifted margins in its oil-to-chemicals business, even as Ambani accelerates a strategic shift toward consumer and digital ventures.
Oil to chemicals business delivered robust growth on Y-o-Y basis, despite continued volatility in energy markets, Mukesh Ambani, said.
Reliance is preparing to list its telecom arm Jio by mid-2026, a move seen as pivotal to unlocking value in its fast-growing digital services unit.
Core earnings for the oil-to-chemicals business rose 20.9% to $1.7 billion.
EBITDA from its digital services business, which includes telecom unit Jio, jumped 17.7% from a year earlier, while retail segment EBITDA climbed 16.5%.
($1 = 88.0020 Indian rupees)
Reporting by Chandini Monnappa in Bengaluru; Editing by Mrigank Dhaniwala and Leroy Leo
Our Standards: The Thomson Reuters Trust Principles.
