India's ongoing rally might get extended, if the market's big bull -- Reliance Industries -- stock started to participate in the up-move, say market watchers.. Image Source: IANS News

New Delhi, Jan 22 : Reliance Industries Ltd (RIL) on Friday reported a rise of over 25 per cent in its consolidated net profit for the quarter ended December 31 of FY2020-21 on a year-on-year (YoY) basis.

The company's consolidated net profit during the third quarter of FY21 increased to Rs 14,894 crore from Rs 11,841 crore reported for the corresponding period of the previous fiscal.

The consolidated net profit attributable to owners of the company fell to Rs 13,101 crore from Rs 11,640 crore reported for the corresponding quarter of the previous fiscal.

As per the results, revenue for the quarter under review grew by 7.4 per cent to Rs 137,829 crore on a year-on-year basis.

"We have delivered strong operational results during the quarter with a robust revival in 'O2C' and 'Retail' segments, and a steady growth in our 'Digital Services' business. I am proud that Reliance has employed 50,000 more people since March 2020," said Mukesh Ambani, Chairman and Managing Director, Reliance Industries.

"I am especially pleased that the world is now closing ranks for a strong global action on Climate Change. This gives Reliance the right opportunity to accelerate our own ambitious 'New Energy' and 'New Materials' business wedded to the vision of clean and green development," he added.

According to the RIL CMD, in line with this vision, the company's oil-to-chemicals (O2C) business has formally reorganised its reporting segments to reflect new strategy and management matrix for this enterprise.

"The reorganised structure will facilitate holistic and agile decision making and enable us to pursue attractive new opportunities for growth, with strategic partnerships with the best and the biggest in this business globally," he said.

Besides, he said the O2C platform will increasingly move further downstream and become closer to customers.

"It will create planetfriendly and affordable energy and materials solutions to meet the growing needs of every sector of the Indian economy," Ambani said.

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