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RIL records 43 pc rise in profits to Rs 13,680 Cr in Q2FY22 RIL Q2FY22 Result

RIL records 43 pc rise in profits to Rs 13,680 Cr in Q2FY22

India Blooms News Service | @indiablooms | 23 Oct 2021, 01:25 am

Mumbai/IBNS: Reliance Industries Friday declared a net profit of Rs 13,680 crore in quarter ended September 30, 2021, a 42.99 percent increase from the same quarter last year riding on higher demand of oil products. 

The oil-to-telecom conglomerate recorded a jump in total expenses in the quarter by almost 45 per cent annually to Rs 1,59,133 crore.

"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," said Mukesh Ambani, Chairman and Managing Director, Reliance Industries.

"All our businesses reflect growth over pre-COVID levels. Our operational and financial performance reflects sharp recovery in the retail segment and sustained growth in Oil-to-Chemicals (O2C) and Digital Services business," he said.

Revenue from operations in the Q2FY22 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.

Earnings before interest, tax, depreciation and amortization (EBITDA) also known as the operating profit came in Rs 30,283, up almost 30 per cent.

RIL's telecom wing Reliance JIO's earnings before interest, tax, depreciation and amortization (EBITDA) also known as the operating profit came in Rs 30,283, up almost 30 per cent.

Its net profit in the quarter-ended 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.

It reported average revenue per user (ARPU), a key parametre to evaluate the performance of a telecom company, Increased to Rs 143.6 per user per month from Rs 138.4 in the preceding April-June quarter.

Reliance Retail's net profit jumped 74 percent to Rs 1,695 crore - higher than pre-Covid period, while its EBITDA came in at Rs 2,913 crore, a growth of 45 percent.

During the quarter, Reliance Retail opened 183 new stores taking the total number of operational stores to 13,635 stores, Reliance Industries said.

In the quarter, Reliance Retail also compleed the acquisition of Milkbasket - a subscription-based grocery delivery platform, Portico, the country's leading home styling solutions brand and JustDial - a leading local search engine platform.

The retail armalso acquired invested in Ritu Kumar's and Manish Malhotra's eponymous designer labels.

AJIO - the digital ecommerce platform reported another quarter of highest ever revenues.