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RIL Q1 Profit Jumps 76% On Sale Of Asian Paints Stake, Robust Consumer Business Performance | Business News


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Reliance Industries Ltd declared fiscal first quarter financial results today.

Reliance Industries Q1 Results.

Reliance Industries Q1 Results.

Reliance Industries Ltd’s fiscal first quarter net profit jumped 76 percent to Rs 30,783 crore, led by a gain from the sale of its stake in Asian Paints and strong growth in consumer-facing businesses. Excluding the one-time gain of Rs 8,924 crore, recurring profit still rose a solid 25 percent from a year earlier.

Consolidated revenue rose 6 percent to Rs 2.73 lakh crore, supported by strong growth in retail and digital services. Operating profit (EBITDA) jumped 36 percent to Rs 58,024 crore, with a healthy contribution from consumer businesses.

Jio Platforms posted a 25 percent rise in profit to Rs 7,110 crore, with EBITDA up nearly 24 percent to Rs 18,135 crore. Net subscriber additions remained strong at 9.9 million during the quarter, taking the total to 498.1 million. JioTrue5G users crossed 200 million, while JioAirFiber is now the largest FWA (fixed wireless access) service globally with a subscriber base of 7.4 million. Average revenue per user or ARPU rose to Rs 208.7 on the back of recent tariff hikes and seasonal reasons. Jio maintained its industry-leading customer engagement with per capita data consumption of 37 GB per month, and total data traffic growth of 24 percent from a year earlier during teh June quarter. Total data traffic grew 24 percent to 54.7 billion GB during the quarter

Reliance Retail’s revenue rose 11.3 percent from a year earlier to Rs 84,171 crore, with EBITDA rising 12.7 percent to Rs 6,381 crore. Consumer brands under the FMCG business reported sales of Rs 11,450 crore in just their second year. Store additions remained brisk, with 388 new store openings, taking the total count to 19,592 across 77.6 million sq ft. The registered customer base rose to 358 million. The registered customer base grew to 358 million, making Reliance Retail one of the most preferred retailers in the country. Total transactions recorded were at 389 million, up 16.5 percent from a year earlier. JioMart continued to expand quick hyper local deliveries registering 68 percent sequential growth from the preceding three months and 175 percent growth of daily orders from a year earlier.

JioStar, the media and entertainment unit, reported revenue of Rs 9,904 crore and EBITDA of Rs 1,017 crore. A blockbuster IPL season helped push JioHotstar’s app downloads past 1 billion on Android and viewership to a record 1.19 billion across TV and JioHotstar . Monthly active users averaged over 460 million.

The oil-to-chemicals (O2C) business saw revenue dip 1.5 percent to Rs 1.55 lakh crore from a year earlier due to lower crude prices and planned maintenance shutdowns. However, EBITDA rose 11 percent to Rs 14,511 crore due to favourable margins on domestic fuel retail, and improvements in transportation fuel cracks. This was partially offset by lower volumes, and polyester chain margins. Reliance BP Mobility’s retail fuel network expanded to 1,991 outlets, outpacing industry growth.

Oil & gas revenues also fell 1.2 percent to Rs 6,103 crore, and EBITDA slipped 4.1 percent to Rs 4,996 crore. The segment was impacted by lower KG-D6 output, lower CBM (coal bed methane) prices, and one-time maintenance expenses.

Capital expenditure for the quarter stood at Rs 29,887 crore, while net debt rose marginally to Rs 117,580 crore as of June 30, from Rs 117,083 crore at the end of March.

Disclaimer:Network18 and TV18 – the companies that operate news18.com – are controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.

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