indian oiltotelecoms giant reliance industries reported mixed quarterly results friday with weakness in its core oilrefining business hurting profits even as its retail and telecom arms posted strong earnings the conglomerate which is owned by asias secondrichest man mukesh ambani reported a net profit of 1579 billion rupees 19 billion between october and december nearly 15 percent lower than in the same period last year revenue from operations at indias largest company by market capitalisation rose 15 percent year on year to 22 trillion rupees helped by strong contributions from reliances newer consumerfacing businesses reliances board also approved a plan to issue bonds to raise up to 200 billion rupees to fuel further expansion across its diversified businesses revenues from reliances oiltochemicals o2c business  which accounts for 65 percent of total income  rose only 10 percent year on year to 14 trillion rupees hurt by planned plant maintenance work and weak global demand demand for polyesters was hurt by slow downstream demand in china due to covid lockdown and bearish global macroeconomic scenario the company said adding that indias wedding season and a shift in chinas zerocovid policy had improved the outlook for the current quarter revenues from the energy giants smaller oil and gas exploration and production business rose nearly 75 percent year on year to 447 billion rupees helped by higher gas prices telecom arm reliance jio saw gross revenues rise 208 percent onyear to 292 billion rupees as it added 53 million net subscribers in the quarter the company said more than 114 million people watched the recent football world cup  for which jio bagged exclusive streaming rights in india  on its jiocinema app with 34 million viewing the final jio delivered record revenues and ebitda driven by strong momentum in customer growth and data consumption chairman and managing director ambani said in a statement its 5g service was now available in 134 towns and cities in india he said after last year pledging to spend 25 billion on 5g networks in the country aiming to strengthen his grip on one of the worlds fastestgrowing smartphone markets gross revenues from reliances retail business jumped 172 percent onyear to a record high of 676 billion rupees the company reported its highestever footfall of 201 million boosted by 789 new store openings in the quarter reliances multibilliondollar operations have been powered by oil and petrochemicals businesses but the company has diversified into new areas including telecom and retail in recent years the companys shares closed 115 percent lower in mumbai ahead of the earnings announcement on friday