Q1FY23 Result: Reliance Industries Limited

Reliance Industries Limited
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Reliance Industries Ltd (RIL) has declared the financial results for the quarter ended June 30, 2022 and it has continued to report bigger profit and revenue numbers for another quarter. “Despite significant challenges posed by the tight crude markets and higher energy and freight costs, O2C business has delivered its best performance ever,” RIL Chairman Mukesh Ambani said.

The consolidated profit after tax for the first quarter came in at Rs 17,955 crore, which is 46.3 percent higher as compared to the year-ago period. RIL reported a 54.5 percent year-on-year (YoY) growth in consolidated revenue from operations to Rs 2.23 lakh crore. Operating profits rose 45.8 percent YoY to a record high of Rs 40,179 crore. Profits climbed 46.3 percent YoY to Rs 17,955 crore. While its oil business grew, its retail business topped the pre-covid footfall numbers, helped by expanding network of stores.

Oil & Gas 

Reliance O2C had its best-ever quarterly performance with all-time-high revenue and EBITDA. Segment Revenues increased by 56.7% Y-o-Y to Rs 161,715 crore. Reliance O2C EBITDA improved by 62.6% Y-o-Y to Rs 19,888 crore on account of sharp rise in transportation fuel cracks and better volumes. Reliance Oil & Gas segment revenues increased by 183.0% Y-o-Y to Rs 3,625 crore; segment EBITDA jumped to Rs 2,737 crore.

Reliance Retail 

Reliance Retail has reported over two-fold jump in pre-tax profit at Rs 3,897 crore for June 2022 quarter, led by higher contribution from fashion & lifestyle and consumer electronics business. It had posted EBITDA of Rs 1,390 crore in the April-June quarter of FY21. Its revenue from operations of the retail segment was up 53.67 per cent to Rs 51,582 crore in the June quarter, from Rs 33,566 crore in the year-ago period. Gross revenue was up 51.90 per cent to Rs 58,554 crore in the three months ended June 2022. It was at Rs 38,547 crore in the corresponding quarter a year ago. In the April-June quarter, Reliance Retail added 792 stores. “With 792 store openings in the quarter, the spread of 15,866 stores with an area of 45.5 million square feet covers all corners of the country,” it said.

RIL Jio 

Reliance Jio Infocomm has reported a year-on-year growth of 23.8 percent in its standalone net profit of Rs 4,335 crore for the quarter ended June 2022 compared to Rs 3,501 crore achieved a year ago. On a sequential basis, the profit has grown 3.9 percent from Rs 4,173 crore recorded in the January–March quarter.

  • EBITDA (Earnings Before Interest, Tax, Depreciation and Amortisation) for the quarter was Rs 11,424 crore, increase of 28.5%
  • Net Profit for the quarter was Rs 4,530 crore, growth of 24.1%
  • ARPU during the quarter of Rs 175.7 per month saw a 26.9% growth on YoY basis
  • Net subscriber addition witnessed a strong rebound to 9.7 million. Total customer base as on 30th June 2022 of 419.9 million
  • Average data and voice consumption per user per month increased to 20.8 GB and 1,001 minutes, respectively.
About the author: IE&M Team
IE&M Team
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