HomeEconomyBusinessRIL Q1 results: Profit drops 6% to Rs 18,258 cr; Rs 9...

RIL Q1 results: Profit drops 6% to Rs 18,258 cr; Rs 9 per share dividend announced

By B S Reporter

Oil-to- major Reliance Ltd () on Friday said its consolidated net profit for the June quarter fell 6.09 per cent year-on-year (YoY) to Rs 18,258 crore compared with Rs 19,443 crore in the corresponding quarter last year. Profit (attributable to the owners) came in at Rs 16,011 crore against Rs 17,955 crore, down 10.82 per cent YoY. Analysts were largely expecting profit to fall anywhere between 8 per cent and 17 per cent

-led company said its consolidated revenue from operations declined 5.31 per cent YoY to Rs 2,10,831 crore from Rs 2,22,664 crore in the same quarter last year. Analysts were expecting a 2-8 per cent YoY drop in sales for the -headquartered company.

RIL dividend at Rs 9 per share

The company board declared a dividend of Rs 9 per share for FY23. This is against a dividend of Rs 8 per share (dividend yield 0.30 per cent) in FY22 and Rs 7 per share (dividend yield 0.35 per cent) in FY21.

“We shall inform you in due course the date on which the company will hold its Annual General Meeting for the year ended March 31, 2023 and the date from which dividend, if approved by the shareholders, will be paid or warrants thereof dispatched to the shareholders,” RIL said.

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