Home Web designer profit Reliance Industries profit increases 43% to Rs 13,680 crore in September quarter

Reliance Industries profit increases 43% to Rs 13,680 crore in September quarter

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Reliance second quarter results: operating revenue jumped 50% in second quarter

The nation’s best-loved firm – Reliance Industries – on Friday reported net profit of Rs 13,680 crore for the quarter ended September 30, 2021, marking an increase of 42.99% from the same quarter of the year. last year due to higher demand for petroleum products. Reliance Industries’ total spending in the quarter jumped nearly 45% annually to Rs 1,59,133 crore.

Reliance Industries Q2 Results: Here’s Everything You Need To Know

  1. The operating income of the oil and telecom conglomerate in the second quarter of the current fiscal year rose 50% to Rs 1.74 lakh crore compared to Rs 1.16 lakh crore a year ago.

  2. Reliance Industries profit before interest, taxes, depreciation and amortization (EBITDA), also known as operating profit, was Rs 30,283, up almost 30%.

  3. “As the pandemic recedes, I am happy Reliance posted a strong performance in 2Q FY22. This demonstrates the inherent strengths of our business and the robust recovery of the Indian and global economies. All of our activities reflect growth from pre-COVID levels, ” said Mr. Mukesh D. Ambani, President and CEO of Reliance Industries Limited.

  4. Reliance’s Oil-to-Chemicals (O2C) segment revenue increased 58% to Rs.120,475 crore, benefiting from a strong recovery in demand for all products, higher higher oil prices and transportation fuel margins.

  5. The telecommunications arm of the company – Reliance Jio’s net profit for the period July-September amounted to Rs 3,728 crore, compared to Rs 3,019 crore in the corresponding period last year, marking a 24% year-over-year growth, according to the stock exchange depot by Reliance Industries.

  6. Jio’s average revenue per user (ARPU), a key metric to assess the performance of a telecommunications company, improved to Rs 143.6 per user per month, from Rs 138.4 in the previous quarter of April to June.

  7. Reliance Retail’s net profit jumped 74% to Rs 1,695 crore, more than the pre-Covid period, while its EBITDA stood at Rs 2,913 crore, up 45%. During the quarter, Reliance Retail opened 183 new stores, bringing the total number of operational stores to 13,635 stores, Reliance Industries said.

  8. During the September quarter, Reliance Retail completed the acquisition of Milkbasket – a subscription-based grocery delivery platform, Portico, the country’s leading home decor solutions brand, and JustDial – a platform. form of leading local search engine.

  9. Recently, the retail arm announced strategic partnerships with major investments in the eponymous designer brands of Ritu Kumar and Manish Malhotra. Additionally, AJIO – the digital e-commerce initiative recorded another quarter of the highest revenue ever in the quarter.

  10. On Friday, October 22, Reliance shares rose 0.15% to Rs 2,627.05 each on BSE. Reliance Industries opened on BSE at Rs 2,623.80, hitting an intraday high of Rs 2,664.70 and an intraday low of Rs 2,611.40, throughout today’s trading session.

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