New Delhi: Reliance Industries Limited (RIL) on Friday posted a 43 percent surge in consolidated net profit for the second quarter (Q2) which ended September 30.
The company posted a net profit of Rs 13,680 Crore in Q2 as a 9,567 crore rs profit in the same period last year.
In terms of quarter-quarter growth per quarter, RIL posted 11.46 percent increase in net income.
It has reported Rs 12,273 Crore’s profit in the previous quarter which ended June 30.
The company’s revenue from operations also jumped 48.05 percent from Rs 1,78,328 Crore in the September quarter of Rs 1,20,444 Crore per year back.
Commenting on the results, Mukesh Ambani, Chair and Managing Director of Reliance Industries Limited: “As a Pandemic Retreat, I am happy that dependence has posted strong performance in Q2 FY22.
This shows the strength attached to our business and strong recovery.
From the Indian and Global Economy .
“Reliance operates four vertical businesses – Oil-to-Chemical (or O2C) businesses include its oil refineries, petrochemical plants, and fuel retail businesses; Retail business that accommodates brick and motorbike stores and e-commerce; Digital services that include Telecom Arm Jio; and new energy business.
O2C reported a fifth in a row from sequential growth in demand recovery.
EBITDA at Rs 12,720 Crore rose 4 percent quarter quarter and 43.9 percent year-on-year.
“Our O2C business benefits from sharp recovery in cross-product demand and higher transportation fuel margins.
Reliance Retail continues to grow behind the rapid expansion of both physical stores and digital offers that produce healthy growth in revenue and expansion of margins,” he added.
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Meanwhile, Ril’s Telecom Arm Jio reported an increase in 24 percent net profit for periods considered.
Gross income during July-September 2021 increased by around seven percent to RS 23,222 Crore, compared with RS 21,708 Crore in the last year period.
The quarterly operating income (after reduced by GST) also increased seven percent to Rs 19,777 Crore, from RS 18,496 Crore registered in the period last year.
Overall, RIL revenues from operations rose 50 percent Rs to 1.74 lakh crore from the previous year.
Reliance said it was working with Google to launch Jiophone smartphones at a cheap cheap price, available around Diwali.
With increasing electronic sales, jewelry, and fashion, retail business across the pre-covid level.
Reliance Retail Ebidta rose 45.2 percent at Rs 2,913 Crore for opening 813 new stores during the quarter, taking the total to 13,635 stores at 37.3 million square feet of retail space.
The oil and gas segment posted 363 percent of YoY Spurt in revenue to RS 1,644 Crore with the EBITDA segment of RS 1,071 Crore.
It is behind the initial production of the satellite cluster field in the KG-D6 block, taking overall production to 18 million cubic meters of standard per day.
(With input from the agency)