RIL Q1 net profit rises 18% to Rs 94 billion on petrochemical products

Jio has continued its strong subscriber growth trend with net addition during the quarter of 28.7 million

Mukesh Ambani-led Reliance Industries (RIL) has posted a 17.9 per cent increase in net profit for the first quarter of the financial year 2018-19 to Rs 94.59 billion, compared to Rs 80.21 billion during the same period last financial year.

The company's revenue for the quarter under review, too, zoomed 56.5 per cent to Rs 1.41 trillion against Rs 905.37 billion during the April-June quarter of the financial year 2017-18. The increase in revenue is mainly on the account of higher realisations of refining and petrochemical products led by 49 per cent year-on-year increase in Brent oil price. The company said