Reliance Industries Ltd, India's most valuable company, on Friday reported a more than 19% jump in fourth-quarter profit, led by the strength in its mainstay energy unit.
Consolidated profit at the Mukesh Ambani-led conglomerate rose to 192.99 billion rupees ($2.35 billion) in the quarter ended March 31, from 162.03 billion rupees a year earlier, it said in an exchange filing.
Earnings before interest, taxes, depreciation and amortization (EBITDA) at the oil-to-chemicals (O2C) business rose over 14% to 162.93 billion rupees, though revenue fell about 12% due to a fall in crude oil prices and lower price realisation on downstream products.
O2C business, which had a great run for two years on higher demand for transportation fuels, was dented by the Indian government's windfall tax on fuel exports.
However, the impact has started receding with the government gradually lowering taxes since December.
Meanwhile, the telecom unit Reliance Jio's profit and revenue growth hit a five-quarter low on higher expenses and the absence of tariff hikes.
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)
Featured Video Of The Day
Tomatoes Thrown, Protest Outside Allu Arjun's Home Over Stampede Death
Reliance Asks Telecom Regulator To Review Reach Of Starlink, Amazon: Report Reliance Jio IPO Said to Launch in 2025, Retail Unit Listing Slated for Much Later Nvidia CEO Joins Hands With Mukesh Ambani To build AI Infrastructure In India "Congress Should Be Ready...": Mani Shankar Aiyar's Big INDIA Bloc Remark 3 Marriages, Rs 1.25 Crore: How 'Looting Bride' Targeted Rich Men Bashar Al-Assad's Wife Files For Divorce, Wants To Return To UK: Report Who Was Epigamia CEO Rohan Mirchandani, Who Died Of Cardiac Arrest At 41 140 Trillion Oceans Of Water Discovered In Deep Space Delta Airline Passenger Gets Frustrated After His First-Class Seat Was Given To Service Dog Track Latest News Live on NDTV.com and get news updates from India and around the world.