Tue Oct 15 00:10:28 UTC 2024: ## Reliance Industries Reports Slight Dip in Q2 Profit Despite Jio’s Strong Performance

**Mumbai, India:** Reliance Industries Limited (RIL), headed by Mukesh Ambani, reported a 5% decline in its consolidated net profit for the second quarter ending September 2024. The profit reached Rs 16,563 crore, down from Rs 17,394 crore in the same period last year. Despite this, the result surpassed the ET Now poll estimate of Rs 15,716 crore.

The company’s telecom arm, Reliance Jio Infocomm, however, demonstrated a strong performance, with a 23.4% surge in its September quarter consolidated net profit, reaching Rs 6,539 crore compared to Rs 5,299 crore in the previous year. Revenues for Jio also saw an increase, hitting Rs 31,709 crore, an 18% rise from Rs 26,875 crore in the corresponding quarter of the previous financial year.

While Reliance Industries faced a slight dip in overall profits, Jio’s strong performance signifies a positive trend for the company’s future.

Read More