Reliance Industries Ltd. posted a 42% rise in net profit to Rs 18,549 crores from Rs 13,101 crores reported in the same quarter in the previous financial year. Consolidated revenues were reported at Rs 1.95 lakh crore, up ~52% year-on-year (YoY). The company’s EBITDA was recorded at Rs 28,700 crore in Q3 FY22, with EBITDA margin reported at a comfortable 14.8%.
Vertical segments posted very strong numbers with the oil-to-chemicals business reporting revenue of Rs 1.31 lakh crore vs. Rs 83,838 YoY. Retail segment delivered an impressive net profit of Rs 2,259 crores. Jio Platform, the telecom business of the giant, reported a revenue of Rs 24,176 crores, with net profits from the same coming at Rs 3,795 crores. Also, the ARPU improved to Rs 151.6 from ~ Rs.138, YoY.
Jio Platforms Limited (JPL)
Reliance Retail
Oil to chemicals (OTC)
Oil and gas (Exploration and production)
Media business
Mukesh D. Ambani, Chairman, and Managing Director, Reliance Industries Limited, stated that he was happy to announce that Reliance has posted its best-ever quarterly performance in 3Q FY22 with a strong contribution from all businesses. Both consumer businesses, Retail and Digital services, have recorded the highest ever revenues and EBITDA.
He further added that during this quarter, RIL continued to focus on strategic investments and partnerships across our businesses to drive future growth. Retail business activity has normalized with strong growth in key consumption baskets on the back of the festive season and as lockdowns eased across the country. Digital services business has delivered broad-based, sustainable, and profitable growth through improved customer engagement and subscriber mix.
The recovery in global oil and energy markets supported strong fuel margins and helped the O2C business deliver robust earnings. RIL is making steady progress towards achieving its vision of Net Carbon Zero by 2035. The recent partnerships and investments in technology leaders in the solar and green energy space are illustrative of the company’s commitment to partner India and the World in the transition to clean and green energy. Lastly, the company will continue to pursue growth initiatives and collaborate with global leaders who share their vision of a sustainable future for the planet.”
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