Reliance Industries, supported by positive retail and Jio results


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Reliance Industries, supported by positive retail and Jio results

SUMMARY

Reliance Industries reported a 5% sequential increase in revenue, in line with Street estimates. The retail arm of Reliance Industries Ltd. recorded revenue of Rs 64,936 crore, while Reliance Jio’s margin and revenue increased for the third consecutive quarter while ARPU increased for the sixth consecutive quarter.

Reliance Industries, supported by positive retail and Jio results
Reliance Industries, supported by positive retail and Jio results1 / seven

Reliance Industries (RIL) net profit came in at Rs 13,656 crore for the three-month period, down 23.9% sequentially due to pressure in its oil-chemicals (O2C) business .

Reliance Industries, supported by positive retail and Jio results
Reliance Industries, supported by positive retail and Jio results2 / seven

Revenue from the company’s petroleum-chemicals unit stood at Rs 1.6 lakh crore for the September quarter, compared to Rs 1.61 lakh crore for the April-June period. Reliance’s operating margin in the O2C business was 6.1%. O2C activity accounted for nearly 57% of Reliance Industries’ total revenue in the fiscal year ending March 2022.

Reliance Industries, supported by positive retail and Jio results
Reliance Industries, supported by positive retail and Jio results3 / seven

Mukesh D Ambani, President and Managing Director of Reliance Industries, said performance was also affected by the introduction of special additional excise duties to ensure stable supply and lower volatility in the domestic market.

Reliance Industries, supported by positive retail and Jio results
Reliance Industries, supported by positive retail and Jio results4 / seven

The Domestic Oil & Gas business continued to show strong performance. We are confident that the MJ fields will be commissioned by the end of the year, said Mukesh Ambani.

Reliance Industries, supported by positive retail and Jio results
Reliance Industries, supported by positive retail and Jio results5 / seven

Revenue at Reliance Retail – the retail arm of Reliance Industries – jumped nearly 11% sequentially to Rs 64,936 crore. Its margin improved 20 basis points to 6.8% for the three months. Figures from the retail branch exceeded brokerage estimates. Revenue growth was led by a recovery in footfall, store additions and digital integrations.

Reliance Industries, supported by positive retail and Jio results
Reliance Industries, supported by positive retail and Jio results6 / seven

Reliance Jio’s net profit rose 4.2% to Rs 4,518 crore for the quarter. The telecommunications company’s margin and revenue increased for the third consecutive quarter.

Reliance Industries, supported by positive retail and Jio results
Reliance Industries, supported by positive retail and Jio resultsseven / seven

Jio’s average revenue per user (ARPU) for the September quarter stood at Rs 177.2 compared to Rs 175 in the previous quarter. The company said ARPU increased for the sixth straight quarter due to a better subscriber mix.


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