Bombay (awp/afp) – Indian giant Reliance Industries posted record net profit in the fourth quarter of 2021, beating experts’ forecasts, thanks to higher crude oil prices and a good recovery in all its branches. activities, he announced on Friday.
The conglomerate, owned by Asia’s richest man, Mukesh Ambani, posted a net profit of 185.5 billion rupees (2.5 billion US dollars) from October to December 2021, up 42 % compared to the 4th quarter of 2020.
The results published on Friday correspond to the third quarter of the fiscal year which will end in March.
“I am delighted to report that Reliance delivered its best quarterly results thanks to strong contributions from all of our businesses,” ranging from oil to telecoms to retail, said Mr. Ambani, quoted in a press release.
He welcomed “the recovery in international oil and energy markets, supported by strong margins”.
The turnover of the oil, gas and petrochemicals branch, which represents nearly 70% of that of the group, jumped 57% over one year, to 1,310 billion rupees (17.6 billion USD).
That of the retail trade, strongly affected by the health crisis linked to Covid-19, but which had already recovered in the previous quarter, broke a record, at 577 billion rupees (7.8 billion USD).
afp/rp