India News | Reliance Q2 Hit by Windfall Profit Tax
Get latest articles and stories on India at LatestLY. Billionaire Mukesh Ambani's Reliance Industries Ltd on Friday reported a flattish net profit for the September quarter after a newly introduced windfall profit tax dented mainstay oil earnings.
New Delhi, Oct 21 (PTI) Billionaire Mukesh Ambani's Reliance Industries Ltd on Friday reported a flattish net profit for the September quarter after a newly introduced windfall profit tax dented mainstay oil earnings.
The oil-to-retail-to-telecom conglomerate's consolidated profit of Rs 13,656 crore during July-September - the second quarter of the 2022-23 fiscal year - compared to Rs 13,680 crore in the year-ago period, it said in a stock exchange filing.
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The profit fell 24 per cent quarter-on-quarter.
The group's retail and telecom businesses saved the day with bumper earnings.
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(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)