Reliance Industry (Q3) FY21 Revenue growth 7.4% to ₹137,829

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  1. Reliance Industries Limited (RIL), an Indian multinational conglomerate company, has reported 7.4 per cent revenue growth to ₹137,829 crore during the third quarter (Q3) FY21 that ended on December 31, 2020, compared to the revenue of ₹128,385 crore in Q2 FY21. Profit for the period grew 40.5 per cent to ₹14,894 crore (Q2 FY21: ₹10,602 crore) look“We have delivered strong operational results during the quarter with a robust revival in O2C and retail segments, and a steady growth in our digital services business,” Mukesh Ambani, chairman and managing director, Reliance Industries Limited said in a press release.
Reliance retail revenues for the reported period dropped 7.9 per cent to ₹37,845 crore (₹41,100 crore). Apparel & footwear business staged a strong bounce back driven by impactful event activation, which led to strong festive season performance and enabled 1.5 times growth over last quarter. AJIO continued to scale new highs with 5 times growth in orders over previous year and significant improvement across customer metrics and operating parameters, as reported in the release. With stores reopening, the luxury and premium brands more than doubled over the last quarter.
However, revenue for oil to chemicals segment jumped 10.0 per cent to ₹83,838 crore (₹76,184 crore). Polymers margins were at a record high while intermediate margins were sequentially better. Petrochemical “Production meant for sale” for Q3 FY21 was 4.2 MMT, with polyester production up 16 per cent compared to Q2 FY21.
“I am especially pleased that the world is now closing ranks for a strong global action on climate change. This gives Reliance the right opportunity to accelerate our own ambitious new energy and new materials business wedded to the vision of clean and green development,” Ambani said.