Reliance Industries Q2 revenue at Rs 13,656 crore; income up 34%

Reliance Industries on Friday reported a 0.18 per cent year-on-year (YoY) drop in consolidated web revenue at Rs 13,656 crore within the September quarter in contrast with Rs 13,680 crore in the identical quarter final yr.

The oil-to-telecom main stated its revenues for the quarter rose 33.74 per cent to Rs 2,32,863 crore from Rs 1,74,104 crore in the identical quarter final yr. The income development was pushed by increased realisation in oil-to-chemical (O2C) enterprise with sharp enhance in power costs. It additionally mirrored the continued development momentum throughout shopper companies, the corporate stated in a BSE submitting.

Ebitda for the quarter rose 14.5 per cent to Rs 34,663 crore from Rs 30,283 crore within the year-ago quarter.

Reliance Industries stated its Ebitda development was pushed totally on account constructive working leverage and operational efficiencies in retail section, increased fuel value realisation with enhance in ceiling value, and marginally increased volumes within the o& fuel section. Ebitda development was additionally pushed by a rise in common income per consumer (ARPU) and buyer engagement in digital providers section, the corporate stated.

Excellent debt stood at Rs 2,94,859 crore or $ 36.2 billion as of September 30. Money and money equivalents stood at Rs 2,01,606 crore or $ 24.8 billion, the corporate stated.

Reliance Jio
Web revenue for telecom arm Reliance Jio stood at Rs 4,729 crore, up 26.9 per cent YoY. Common income per consumer (ARPU) got here in at Rs 177.20 per subscriber monthly. Complete information site visitors was up 22.7 per cent at 28.2 billion GB. Complete buyer base stood at 42.76 crore.

Reliance Retail
Web revenue for this section was 36 per cent YoY at Rs 2,305 crore. Gross income for the retail got here in at Rs 64,920 crore, up 42.9 per cent. The corporate operated 54.5 million sq. toes of space within the September quarter in contrast with 37.3 million sq. toes within the corresponding quarter of the final yr.

O2C enterprise
The section’s Ebitda fell 5.9 per cent YoY to Rs 11,968 crore totally on account of introduction of SAED on transportation fuels and decrease Polymer deltas. SAED associated prices through the quarter was Rs 4,039 crore, Reliance stated.

“Efficiency of our O2C enterprise mirror subdued demand and weak margin setting throughout downstream chemical merchandise. Transportation gasoline margins had been higher than final yr however considerably decrease sequentially. Phase efficiency was additionally impacted by the introduction of particular further excise duties through the quarter to make sure secure provide and decrease volatility within the home market,” stated Chairman and Managing Director Mukesh Ambani.

Oil & fuel exploration

This section’s EBitda rose sharply to Rs 3,171 crore, which is up virtually 3 instances on YoY foundation, Ebitda margin expanded 12.6 proportion factors to 82.3 per cent. The section income was up 134.4 per cent YoY at Rs 3,853 crore, led by increased manufacturing and improved fuel value realization.

Earlier, shares of Reliance Industries closed the day at Rs 2471.95 on BSE, down 1.16 per cent.