RIL Q1 consolidated net profit falls 7% to Rs.12,273 crore

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Mumbai : Oil to retail conglomerate Reliance Industries has reported a 7.3 per cent year-on-year (YoY) fall in consolidated net profit at Rs.12,273 crore for the first quarter ended June 30.  The company has reported a 58.2 per cent YoY growth in consolidated revenue at Rs. 1.44 lakh crore.

It’s quarterly EBITDA grew by 27.6 percent to Rs.27,550, which is a record quarterly performance for the company.

“I am happy that our Company has delivered robust growth despite facing a highly challenging operating environment caused by the second wave of the COVID pandemic. The results of the First Quarter of FY2022 clearly demonstrate the resilience of Reliance’s diversified portfolio of businesses that cater to large parts of the consumption basket. In our O2C business, we generated strong earnings through our integrated portfolio and superior product placement capabilities. Along with our partner bp, we commissioned the satellite cluster in KG D6 and continued to ramp up production, contributing to 20% of gas production in India. This will be a major contribution to our country’s energy security” Mukesh D. Ambani, Chairman and Managing Director, Reliance Industries Limited said.

“Jio has posted yet another record quarterly performance with industry leading operating metrics. I am thankful to Jio’s family of loyal subscribers whose number has grown further during the quarter, consolidating its position as India’s No. 1 provider of digital connectivity and services. They appreciate our continuing focus on raising the bar for superior service quality” he added.

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