Reliance Industries shares gained more than 1 per cent on Friday morning in a strong market ahead of its Q2 results scheduled later in the day. The company had reported net profit of Rs 12,273 crore in the previous quarter ended June 30, 2021, marking a decline of 7.25 per cent from the same quarter last year on the back of increase in total expenses. At 11:11 am, Reliance Industries shares were trading at Rs 2658, up 1.2 per cent, on the BSE.
Reliance Industries’ total expenses in the June quarter had jumped 50 per cent annually to Rs 1.31 lakh crore and revenue from operations advanced 58 per cent to Rs 1.44 lakh crore.
Reliance Retail’s net profit more than doubled to Rs 962 crore and EBITDA came in at Rs 1,941 crore in the June quarter. And Reliance Jio’s net profit jumped 45 per cent annually to Rs 3,651 crore in the June quarter on the back of a nearly 10 per cent increase in revenues.
The BSE Sensex and NSE Nifty are trading higher by 0.7 per cent at the time, having snapped a 3-day losing run.