One of the biggest, and arguably the most consequential, corporations in the country released its result for the previously concluded quarter on October 14. The results for Q2 of FY25 were declared through an exchange filing. In the results, the company's net profit slipped to Rs 16,563 crore from Rs 17,394 crore at the same time last year in the previous fiscal year.
Reliance Net Profits Sees a Dip
This marked a 4.77 per cent decline in the said net profit.
This also appears to have impacted the company shares listed on the equity markets. The company shares are trading in red, with a decline of over 1 per cent.
Although there was a year-over-year decline in profits, it however needs to be noted that there was a rise in the profit numbers on a month-on-month basis. There was a 9.4 per cent jump in profit gained.
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he results for Q2 of FY25 were declared through an exchange filing. In the results, the company's net profit slipped to Rs 16,563 crore | Canva
When it comes to the company's debt, the company's debt burden rose to Rs 3,36,337 crore by the end of the quarter. This is greater than debt of Rs 2,95,687 crore in Q2 of 2023-24, marking a 13.74 per cent jump in debt.
In addition to that, consolidated profits before interest, tax, depreciation, and amortisation (EBITDA) for the Mukesh Ambani-led company stood at Rs 43,934 crore for the second quarter. This marked a decline of 2 per cent year over year.
RIL Shares In Red
Coming to the company's performance at the equity market, the marquee stock of Reliance Industries Limited, which opened at 2,717.05, has seen a steady decline as the intraday trade progressed further.
The decline went past the 1.5 per cent mark. In fact, at 13:12 IST, the company shares declined by a cumulative 1.64 per cent or Rs 45.15. This drop took the overall individual share to Rs 2,699.90.
Company chairman Mukesh Ambani is currently the 14th richest person in the world, with a net worth of USD 106.7 billion.
