RIL Q1 results: Net profit falls 4% to Rs 17,448 crore; sales up 11.5%
RIL Q1 earnings: The oil-to-telecom giant said its Ebitda margin for the quarter stood at 16.6 per cent against 17.8 per cent in March quarter and 18.1 per cent in the same quarter last year.
- Jul 19, 2024,
- Updated Jul 19, 2024 8:01 PM IST
The Mukesh Ambani-led Reliance Industries Ltd (RIL) on Friday reported a 4 per cent year-on-year (YoY) drop in consolidated profit after tax (PAT) at Rs 17,448 crore for the June quarter compared with Rs 18,182 crore in the same quarter last year. Consolidated gross revenue rose 11.5 per cent YoY to Rs 2,57,823 crore compared with Rs 2,31,132 crore in the same quarter last year. The sales growth was led by O2C on higher oil & product prices and Oil & Gas segment with strong growth in volumes. Steady growth in consumer businesses also contributed to increase in revenue, RIL said in a BSE filing.
Ebitda for the quarter rose 2 per cent YoY to Rs 42,748 crore ($ 5.1 billion). Strong contribution from Oil & Gas and consumer business offset weak O2C, it said. The oil-to-telecom giant said its Ebitda margin for the quarter stood at 16.6 per cent against 17.8 per cent in March quarter and 18.1 per cent in the same quarter last year.
Profit after tax for Jio Platforms at Rs 5,698 crore for the quarter was at record high. Average revenue per user (APRU) for the quarter came in at Rs 181.70. Reliance Retail reported profit stood at Rs 2,549 crore. The quarter recorded footfalls of over 296 million, up 19 per cent YoY. The focus on scaling up Digital Commerce and New Commerce continued with the channels contributing 18 per cent of Retail's total revenue. The registered Retail customer base grew to 316 million, RIL said.
RIL said its outstanding debt dropped to Rs 3,04,937 crore in Q1FY25 against 324,622 in Q4FY24 and Rs 3,18,685 crore in Q1FY24.
Chairman and Managing Director Mukesh Ambani said consolidated Ebitda for the quarter improved from a year ago with strong contribution from Consumer and Upstream businesses offsetting weak O2C operating environment.
"The digital services business registered an impressive financial performance year-on-year, continuing its positive growth momentum. Jio’s True 5G network, covering 85 per cent of India’s 5G capacity, continues to attract users, while the fixed broadband offerings are witnessing increasing consumer traction both in homes and enterprises," Ambani said.
Ambani said Retail business delivered robust financial results, as compared to last year, well supported by all consumption baskets. With fast-paced expansion of its retail footprint, Reliance Retail continues to cement its position as the preferred retailer for millions of Indians.
The digital and new commerce segments are also scaling up rapidly, he said.
"The deep integration and flexibility built into our O2C business model helped mitigate the impact of challenging operating environment. The business was impacted by lower fuel cracks with tepid global demand and ramp-up of new refineries. The oil and gas segment continued its growth trajectory with higher production, offsetting lower year-on-year gas price realizations," Ambani said.
Ambani said Reliance Industries has made significant progress on the implementation of New Energy Giga-factories. On completion, these projects will provide India a world-class, integrated green energy ecosystem which can propel the next leg of sustainable growth, he said.
Earlier today, its telecom business Reliance Jio Infocomm reported an 11.97 per cent year-on-year (YoY) rise in net profit at Rs 5,445 crore for the June quarter compared with Rs 4,863 crore in the same quarter last year. Revenue from operations jumped 10.33 per cent YoY to Rs 26,478 crore compared with Rs 24,042 crore in the same quarter last year, RJio said.
The Mukesh Ambani-led Reliance Industries Ltd (RIL) on Friday reported a 4 per cent year-on-year (YoY) drop in consolidated profit after tax (PAT) at Rs 17,448 crore for the June quarter compared with Rs 18,182 crore in the same quarter last year. Consolidated gross revenue rose 11.5 per cent YoY to Rs 2,57,823 crore compared with Rs 2,31,132 crore in the same quarter last year. The sales growth was led by O2C on higher oil & product prices and Oil & Gas segment with strong growth in volumes. Steady growth in consumer businesses also contributed to increase in revenue, RIL said in a BSE filing.
Ebitda for the quarter rose 2 per cent YoY to Rs 42,748 crore ($ 5.1 billion). Strong contribution from Oil & Gas and consumer business offset weak O2C, it said. The oil-to-telecom giant said its Ebitda margin for the quarter stood at 16.6 per cent against 17.8 per cent in March quarter and 18.1 per cent in the same quarter last year.
Profit after tax for Jio Platforms at Rs 5,698 crore for the quarter was at record high. Average revenue per user (APRU) for the quarter came in at Rs 181.70. Reliance Retail reported profit stood at Rs 2,549 crore. The quarter recorded footfalls of over 296 million, up 19 per cent YoY. The focus on scaling up Digital Commerce and New Commerce continued with the channels contributing 18 per cent of Retail's total revenue. The registered Retail customer base grew to 316 million, RIL said.
RIL said its outstanding debt dropped to Rs 3,04,937 crore in Q1FY25 against 324,622 in Q4FY24 and Rs 3,18,685 crore in Q1FY24.
Chairman and Managing Director Mukesh Ambani said consolidated Ebitda for the quarter improved from a year ago with strong contribution from Consumer and Upstream businesses offsetting weak O2C operating environment.
"The digital services business registered an impressive financial performance year-on-year, continuing its positive growth momentum. Jio’s True 5G network, covering 85 per cent of India’s 5G capacity, continues to attract users, while the fixed broadband offerings are witnessing increasing consumer traction both in homes and enterprises," Ambani said.
Ambani said Retail business delivered robust financial results, as compared to last year, well supported by all consumption baskets. With fast-paced expansion of its retail footprint, Reliance Retail continues to cement its position as the preferred retailer for millions of Indians.
The digital and new commerce segments are also scaling up rapidly, he said.
"The deep integration and flexibility built into our O2C business model helped mitigate the impact of challenging operating environment. The business was impacted by lower fuel cracks with tepid global demand and ramp-up of new refineries. The oil and gas segment continued its growth trajectory with higher production, offsetting lower year-on-year gas price realizations," Ambani said.
Ambani said Reliance Industries has made significant progress on the implementation of New Energy Giga-factories. On completion, these projects will provide India a world-class, integrated green energy ecosystem which can propel the next leg of sustainable growth, he said.
Earlier today, its telecom business Reliance Jio Infocomm reported an 11.97 per cent year-on-year (YoY) rise in net profit at Rs 5,445 crore for the June quarter compared with Rs 4,863 crore in the same quarter last year. Revenue from operations jumped 10.33 per cent YoY to Rs 26,478 crore compared with Rs 24,042 crore in the same quarter last year, RJio said.