Jio, Retail boost RIL Q1 net profit by 7% to Rs.10,104 crore  

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Mumbai: Mukesh Ambani controlled Oil-to-retail behemoth Reliance Industries Ltd (RIL) on Friday reported a consolidated net profit of Rs.10,104 crore for the period ended 30 June, 2019 a rise of 6.82% from Rs.9,459 for the same quarter last year. Consolidated Revenue of the company has increased by 22.1% to Rs. 172,956 crore ($ 25.1 billion). Basic earnings per share (EPS) for the quarter ended 30 th June, 2019 was Rs. 17.1 as against Rs.16.0 in the corresponding period of the previous year.

Keeping its momentum Reliance Jio added 33.8 million subscribers during the quarter. This translated into revenue and EBITDA growth of 44% and 49% respectively. Despite larger consumer base across varying tariff plans, customer engagement continues to improve with higher data usage of 11.4 GB/user/month. VoLTE voice consumption per subscriber per month stands at 821 minutes.

“Our first quarter earnings were strong despite weak global macroeconomic environment and challenging hydrocarbon market conditions. Our downstream businesses delivered resilient performance in an environment of slower demand growth and incremental supplies. The performance reflects the benefits of deep refining and petrochemicals integration, chain economics and feedstock flexibility. The Company continues to make major strides in its retail and digital services businesses led by focus on growth markets with offerings in the right product segments and compelling value proposition. We are pleased with the robust growth both in revenues and operating income for Reliance Retail. Our digital services business continues to transform the mobility market in India while scaling newer milestones” Mukesh D. Ambani, Chairman and Managing Director, Reliance Industries Limited said.

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