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RIL Q3 results: Net profit rises 41.5% to Rs 18,549 cr

RIL Q3 results: Net profit rises 41.5% to Rs 18,549 cr

RIL's revenue from operations has come in at Rs 191,271 crore from Rs 123,997 crore in the same quarter last fiscal.

Reliance Industries Chairman Mukesh Ambani Reliance Industries Chairman Mukesh Ambani

Mukesh Ambani-owned oil-to-telecom conglomerate Reliance Industries Limited (RIL) on Friday posted a consolidated profit after tax (PAT) at Rs 18,549 crore (attributable to shareholders of the company), up 41.5% in the quarter ended 31 December, 2021. The company had posted a net profit of RS 13,101 crore in the year-ago period. 

RIL's revenue from operations has come in at Rs 191,271 crore from Rs 123,997 crore in the same quarter last fiscal.

RIL's net profit for the previous quarter stood at Rs 13,680 crore with the company registering consolidated revenues of Rs 1.7 lakh crore.

The company stated that the outbreak of coronavirus (COVID-19) pandemic globally and in India is causing significant disturbance and slowdown of economic activity.

"The Group's operations and revenue were impacted due to COVID-19. During the quarter ended December 31, 2021, there is no significant impact on the operations of the Group: the company said in its regulatory filing.

Further, Reliance recorded a one-off gain of Rs 2,872 crore from the sale of its shale gas assets

Commenting on the results, Reliance Industries chairman Mukesh Ambani said, "I am happy to announce that Reliance has posted best-ever quarterly performance in 3Q FY22 with strong contribution from all our businesses. Both our consumer businesses, retail and digital services have recorded highest ever revenues and EBITDA. During this quarter, we continued to focus on strategic investments and partnerships across our businesses to drive future growth." 

RIL reported EBITDA (earnings before interest, tax, depreciation and amortisation) at Rs 33,886 crore during the quarter in review, up 30%.

"We are making steady progress towards achieving our vision of Net Carbon Zero by 2035. Our recent partnerships and investments in technology leaders in the solar and green energy space is illustrative of our commitment to partner India and the World in the transition to clean and green energy. We continue to pursue growth initiatives and collaborate with global leaders who share our vision of a sustainable future for our planet," he added.

On Friday, RIL's shares closed flat at Rs 2,478.10 apiece on BSE.

Meanwhile, Reliance's telco arm posted a net profit of Rs 3,615 crore, up 12%, in the quarter ended 31 December, 2021. The Mukesh Ambani-led telco had posted a net profit of Rs 3,291 crore in the year-ago period.

Reliance Jio's revenue from operations stood Rs 19,347 crore versus 18,492 crores in the same quarter last fiscal.

Further, the company's average revenue per user or ARPU grew 5.6% QoQ at Rs 151.6 per subscriber per month. On yearly basis, the ARPU grew 8.4%.