Reliance Industries (RIL) has set up a wholly owned subsidiary, REC Sustainable Energy Solutions Pte. Ltd, in Singapore to bolster R&D and new energy projects, the company said in a press release on the stock exchanges.
Reliance Industries Limited (RIL) has announced the establishment of REC Sustainable Energy Solutions Pte. Ltd. (REC SES), a wholly owned subsidiary in Singapore.
This move aims to create a global capability centre for research and development (R&D), facilitate the recruitment of global talent, and provide technical and procurement services to support the company’s new energy ventures.
The company has committed an initial investment of USD 100,000 towards the subscription of 100,000 shares at USD 1 each. The transaction does not involve related party interests, and no regulatory approvals were required.
Reliance Industries reported a consolidated net profit of ₹18,540 crore for Q3 FY25, reflecting a 7.4% increase from ₹17,265 crore in the same quarter last year. The company’s consolidated revenue for Q3FY25 rose by 6.7% year-on-year (YoY) to ₹2.40 lakh crore, up from ₹2.25 lakh crore in Q3FY24.
Operationally, the company’s Earnings Before Interest, Taxes, Depreciation, and Amortisation (EBITDA) grew by 8%, reaching ₹43,789 crore compared to ₹40,656 crore YoY. The EBITDA margin also improved by 20 basis points to 18.3% from 18.1% in the same period last year, driven by stronger refining margins and growth in digital services.
Reliance Industries Limited (RIL) shares have shown a modest increase, with the stock trading at ₹1,221.80, up by ₹5.25 or 0.43% from the previous close. The stock reached a high of ₹1,224.00 during the session, while the low stood at ₹1,212.15.
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Published on: Feb 13, 2025, 11:22 AM IST
Neha Dubey
Neha Dubey is a Content Analyst with 3 years of experience in financial journalism, having written for a leading newswire agency and multiple newspapers. At Angel One, she creates daily content on finance and the economy. Neha holds a degree in Economics and a Master’s in Journalism.
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