NEW DELHI: India’s most valuable company Reliance Industries on Friday reported a flat profit for the second quarter of the financial year 2022-23.
RIL’s consolidated net profit stood at Rs 13,656 crore in Q2 as against a profit of Rs 13,680 crore in same period last fiscal.
The Mukesh Ambani-led firm’s profits tumbled after its mainstay oil-to-chemical business was impacted by a fall in refinery margins and export tax on refined fuels.
In terms of quarterly numbers, RIL’s profit plunged about 24%.