RIL Q3 Results LIVE: Reliance profit up 41% on-yr; firing on all cylinders with strong Jio, O2C, Retail growth
Reliance Industries Q3FY22 Results LIVE: Reliance Industries Ltd has reported a 41.5% on-year jump in net profit to Rs 18,549 crore in the October-December quarter of the current fiscal year. Total income soared 52% on-year basis during the quarter to reach Rs 1.95 lakh crore. Segment breakdown of Reliance Industries’ results shows that the oil to chemical business of RIL reported a revenue of Rs 1.31 lakh crore, as against Rs 83,838 crore in the year-ago period. Jio Platforms reported a revenue of Rs 24,176 crore while net profit came in at Rs 3,795 crore. ARPU improved to Rs 151.6. The retail business of RIL delivered all-time high revenue of Rs 57,714 crore and a net profit of Rs 2,259 crore”.
“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. Our digital services business has delivered broad based, sustainable, and profitable growth through improved customer engagement and subscriber mix,” said Mukesh Ambani, Chairman and Managing Director, Reliance Industries. He added that recovery in global oil and energy markets supported strong fuel margins and helped RIL’s O2C business deliver robust earnings.