Reliance Q3FY22 Results: Net profit jumps 41 pc to Rs 18,549 cr

The company's net profit (attributable to owners of the company) in the October-December quarter (Q3) of FY21 was Rs 13,101 crore.

RIL said that its consolidated net profit (after exceptional items) for the October-December quarter (Q3) of FY22 stood at Rs 20,539 crore, higher by 37.9percent year-on-year.

Mukesh Ambani-led RIL's total income surged 52percent in Q3FY22 to Rs 1.95 lakh crore as compared to Rs 1.28 lakh crore in corresponding period of FY21.

Commenting on the results, RIL Chairman Mukesh Ambani said, "I am happy to announce that Reliance has posted best-ever quarterly performance in 3Q FY22 with strong contribution from all our businesses. Both our consumer businesses, Retail and Digital services have recorded highest ever revenues and EBITDA."

"During this quarter, we continued to focus on strategic investments and partnerships across our businesses to drive future growth," he further said.

RIL shares closed almost flat at Rs 2,478.10 a piece on the BSE on Friday.

Segment wise, Reliance Retail delivered strong result posting all time high revenue and EBITDA as operating environment returned to normalcy.

Reliance Retail recorded consolidated gross revenue of Rs 57,714 crore for Q3FY22, a growth of 52.5percent Y-o-Y. Gross revenue from consumption baskets excluding petro and connectivity grew by 90percent over previous year to Rs 33,714 crore for Q3FY22.

"All time high revenues were recorded across all consumption baskets driven by highest ever store sales and sustained growth momentum in digital and new commerce. Consumer electronics and apparel & footwear doubled their business on the back of strong festive sales while grocery sustained its consistent and strong double-digit growth momentum," RIL said in a statement.

Reliance Retail net profit for the quarter was Rs 2,259 crore, higher by 23.4percent Y-o-Y.

Ambani said that retail business activity has normalized with strong growth in key consumption baskets on the back of festive season and as lockdowns eased across the country.

Jio Platforms Ltd's gross revenue for the third quarter of the current financial year came in at 24,176 crore, higher by 13.8percent year-on-year. Its net profit for the quarter grew 8.9percent year-on-year to Rs 3,795 crore.

The company statement said that Jio Platforms' total customer base as on 31st December 2021 was 421 million, net addition of 10.2 million customers.

Average Revenue Per User (ARPU) during the quarter improved to Rs 151.6 per subscriber per month.

RIL said that full impact of tariff hike would be reflected in ARPU and financials over the next few quarters.

"Total data traffic was 23.4 billion GB during the quarter, a growth of 47.8percent," said the company.

The recovery in global oil and energy markets supported strong fuel margins and helped the company's O2C (oil-to-chemicals) business deliver robust earnings. Segment revenue for Q3FY22 increased by 56.8percent Y-o-Y to Rs 131,427 crore primarily on account of increase in crude oil prices and higher volumes.

"We are making steady progress towards achieving our vision of Net Carbon Zero by 2035. Our recent partnerships and investments in technology leaders in the solar and green energy space is illustrative of our commitment to partner India and the world in the transition to clean and green energy. We continue to pursue growth initiatives and collaborate with global leaders who share our vision of a sustainable future for our planet,” RIL Chairman and Managing Director Mukesh Ambani said.