Reliance Q2 Results: Revenue from operations jumped 50 per cent in second quarter
The country’s most valued company – Reliance Industries – on Friday reported net profit of Rs 13,680 crore in quarter ended September30, 2021, marking a rise of 42.99per cent from the same quarter last year on the back of higher demand of oil products. Reliance Industries total expenses in the quarter jumped almost 45 per cent annually to Rs 159,133crore
Reliance Industries Q2 Results: Here’s All You Need To Know
The oil-to-telecom conglomerate’s revenue from operations in the second quarter of the current fiscal advanced 50 per cent to Rs 1.74 lakh crore compared to Rs 1.16 lakh crore in the year ago period.
Reliance Industries earnings before interest, tax, depreciation and amortization (EBITDA) also known as the operating profit came in Rs 30,283, up almost 30 per cent.
“As the pandemic retreats, I am pleased that Reliance has posted a strong performance in 2Q FY22. This demonstrates the inherent strengths of our businesses and the robust recovery of the Indian and global economies. All our businesses reflect growth over pre-COVID levels,” said Mr Mukesh D. Ambani, Chairman and Managing Director, Reliance Industries Limited.
”Our operational and financial performance reflects sharp recovery in the retail segment and sustained growth in Oil-to-Chemicals (O2C) and digital services business,” added Mr Ambani
The company’s telecom arm – Reliance Jio’s net profit in the July-September period stood at Rs 3,728 crore, compared to Rs 3,019 crore in the corresponding period last year, marking a growth of 24 per cent year-on-year, according to the stock exchange filing by Reliance Industries.
Jio’s average revenue per user (ARPU), a key metric to evaluate the performance of a telecom company, improved to Rs 143.6 per user per month from Rs 138.4 in the preceding April-June quarter.
Reliance Retail’s net profit surged 74 per cent to Rs 1,695 crore while its EBITDA came in at Rs 2,913 crore, up 45 per cent. During the quarter, Reliance Retail opened 183 new stores taking the total number of operational stores to 13,635 stores, Reliance Industries said.
“Our O2C business benefited from sharp recovery in demand across products and higher transportation fuel margins. Reliance Retail continues to grow on the back of rapid expansion of both physical stores and digital offerings resulting in healthy growth in revenues and margin expansion,” said Mr Ambani.
”Jio, our digital services business continues to transform the broadband market in India and set new benchmarks for the industry,” he added.
On Friday, October 22, shares of Reliance settled 0.15 per cent higher at Rs 2,627.05 apiece on the BSE. Reliance Industries opened on the BSE at Rs 2,623.80, swinging to an intra day high of Rs 2,664.70 and an intra day low of Rs 2,611.40, throughout the trading session today.
