India's most valuable company reliance industries on friday posted a record quarterly net profit of Rs 11,640 crore as a turnaround in oil refining business together with the continued rise in the share of its consumer businesses of retail and telecom countered lower profitability in petrochemicals.

 

The oil-to-telecom conglomerate, led by richest indian mukesh ambani, reported a net profit of Rs 11,640 crore, or Rs 18.4 per share, in October-December, up from Rs 10,251 crore, or Rs 17.3 a share, in the same period of the previous financial year, the company said in a statement. This is the highest quarterly net profit earned by any private company, surpassing its own previous best of Rs 11,262 crore in the July-September 2019 period.

 

State owned indian oil Corp (IOC) holds the distinction of posting the highest ever quarterly profit by any indian firm when it had reported a net profit of Rs 14,512.81 crore in January-March 2013.

However, consolidated revenue fell 1.4 per cent to Rs 168,858 crore in the third quarter of 2019-20.

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