Reliance Industries Q3 net profit soars 41% to Rs 18,549 crore

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Mumbai : Reliance Industries Limited (RIL) has reported a consolidated profit after tax (PAT) of Rs 18,549 crore for the quarter ended December 2021, up 42 percent from Rs 13,101 crore registered in the corresponding quarter of the last financial year (Q3FY21). The company had reported a profit of Rs 13,680 crore in the July-September 2021 quarter.

The Mukesh Ambani-led company has reported a consolidated revenue of Rs.1,91,271 crore, up by 62 percent for the quarter from Rs 1,17,860 crore in the year-ago period. Revenues in the previous quarter (Q2FY22) were Rs 1,67,611 crore.

“I am happy to announce that Reliance has posted best-ever quarterly performance in 3Q FY22 with strong contribution from all our businesses. Both our consumer businesses, Retail and Digital services have recorded highest ever revenues and EBITDA. During this quarter, we 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 festive season and as lockdowns eased across the country. Our 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 our O2C business deliver robust earnings. Our Oil & Gas segment delivered strong growth in EBITDA with volume growth and improved realization” Mukesh D. Ambani, Chairman and Managing Director, Reliance Industries Limited said.

Reliance Jio, the telecom arm of the company’s net profit rose 10% year-on-year to Rs. 3795 crore for the December quarter. It was Rs.3486 crore in the Q3 of last fiscal (Q3FY21). Revenue from operations came in at Rs.20,597 crore as against Rs.19,475 crore in the last year period.

ARPU during the quarter of ₹ 151.6 per subscriber per month which is healthy 8.4% growth on Y-o-Y basis (adjusted for IUC) and 5.6% growth on Q-o-Q basis. Total customer base as on 31st December 2021 of 421.0 million, net addition of 10.2 million customers on Y-o-Y basis.

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