Mumbai : Reliance Industries Ltd (RIL) has announced a year-on-year (YoY) increase of 11 percent in net profit, reaching Rs 19,641 crore for the October-December quarter, compared to Rs 17,706 crore in the corresponding quarter the previous year.
The gross revenue for the quarter witnessed a growth of 3.2 percent, totaling Rs 2,48,160 crore, as opposed to Rs 2,40,532 crore in the same period last year. RIL clarified that it adjusted figures for the year-ago period to account for the demerger of the financial services business.
Ebitda for the quarter came in at Rs 44,678 crore, up 16.7 per cent YoY, with Ebitda margin at 18 per cent, up 210 basis points YoY.
Reliance Industries said its O2C Ebitda was weak because of planned maintenance and inspection shutdown. Reliance Industries said its Revenue for JPL increased 11.4 per cent YoY, led by robust subscriber growth across mobility and homes, and benefit of mix improvement in ARPU.
“Reliance has delivered yet another quarter of robust operating and financial performance, thanks to the exceptional efforts put in by teams across its businesses,” said Mukesh D. Ambani, Chairman and Managing Director, Reliance Industries Limited.
Jio Platforms’ Gross Revenue for the quarter was at a record high of Rs.32,510 crore, up 11.4% Y-o-Y, EBITDA for the quarter stood at Rs.13,955 crore, up 11.5% Y-o-Y, while Net Profit for the quarter was Rs.5,445 crore, up 11.6% Y-o-Y.