Business Today

RIL posts highest ever quarterly profit of Rs 11,262 crore, Jio adds 24 million subscribers; key takeaways

RIL posts a record quarterly revenue of retail and digital services businesses; the company says it has recorded the highest ever quarterly production of petrochemicals at 9.9 million tonne

twitter-logo BusinessToday.In   New Delhi     Last Updated: October 18, 2019  | 20:05 IST
RIL posts highest ever quarterly profit of Rs 11,262 crore, Jio adds 24 million subscribers; key takeaways
RIL posted 18.6 per cent jump in its net profit to Rs 11,262 crore on Friday.

Mukesh Ambani-led Reliance Industries on Friday posted 18.6 per cent jump in its net profit to Rs 11,262 crore in Q2. The company reported the highest ever revenue of Rs 163,854 crore, up 4.8 per cent on yearly basis, thanks to robust growth in retail and digital services businesses, which offset weakness in the refining, oil & gas and petrochemical business.

Here are top highlights from RIL's Q2 result:

  • The RIL's revenue has seen an uptick, thanks to a record quarterly revenue of its retail and digital services businesses. "Reliance Retail delivered robust performance with record quarterly revenues and EBITDA," the company said in a statement. The company's retail business saw a 27 per cent jump in revenue (YoY) to Rs 41,202 crore.
  • With more than 8,000 stores, Reliance Retail now has the largest number of company-operated consumer electronics stores globally, said the company.
  • The RIL's petrochemical business posted the highest ever quarterly production of petrochemicals at 9.9 million tonne. The RIL's petrochemicals EBIT (earnings before interest and taxes) stands at Rs 7,602 crore, down 6.4 per cent Y-o-Y due to weaker product margins.
  • Reliance Jio reported a 45.4 per cent increase in net profit for the quarter ended September 30, 2019. RIL's telecom arm posted a standalone net profit of Rs 990 crore during the quarter under review, as opposed to Rs 681 crore during the year-ago period.
  • Reliance Jio's data traffic for the quarter has been up 55.9 per cent and voice call minutes up 52.2 per cent Y-o-Y. Reliance Jio ARPU during the quarter of Rs 120 per user subscriber per month. Jio added 24 million subscribers in the second quarter.
  • Outstanding debt of the company as on September 30, 2019, was Rs 291,982 crore ($41.2 billion) compared to Rs 287,505 crore as on March 31, 2019.
  • RIL retained its domestic credit ratings of 'CRISIL AAA/Stable' from CRISIL and 'IND AAA/Stable' from India Ratings and an investment-grade rating for its international debt from Moody's as 'Baa2' and 'BBB+ from S&P.
  • Commenting on the results, RIL Chairman Mukesh Ambani said: "The company has reported record net profit for the quarter. These excellent results reflect benefits of our integrated oil to chemicals value chain and the rapid scale-up of our consumer businesses."

Also read: Reliance Industries Q2 result: Profit rises 18% to Rs 11,262 crore, revenue up 5%

Also read: Reliance Jio net profit rises 45% to Rs 990 crore in Q2 FY20; subscriber base crosses 350 million

Edited by Manoj Sharma

Youtube
  • Print

  • COMMENT
BT-Story-Page-B.gif
A    A   A
close