NEW DELHI: India’s most valued company Reliance Industries (RIL) on Friday reported a 41.5% year- 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% year-on-year basis during the quarter to reach Rs 1.95 lakh crore.
According to an average estimate by Bloomberg, Reliance net profit was expected at Rs 15,264 crore and the revenue was pegged at Rs 1.75 lakh crore.On a consolidated basis, RIL’s revenue during the quarter crossed the Rs 2 lakh crore mark for the first time in company’s history to 209,823 crore (up 52.2% YoY) and profit (after exceptional item) to Rs 20,539 crore (up 39% YoY).
The 02C business reported a revenue of Rs 1.31 lakh crore, as against Rs 83,838 crore in the year-ago period primarily on account of increase in crude oil prices and higher volumes.“The recovery in global oil and energy markets supported strong fuel margins and helped our O2C business deliver robust earnings,” said Mukesh Ambani, Chairman and Managing Director, Reliance Industries Limited.
The retail business of RIL delivered all-time high revenue of Rs 57,714 crore and a net profit of Rs 2,259 crore. Ambani, who is also Asia’s richest billionaire, said , “Retail business activity has normalised with strong growth in key consumption baskets on the back of festive season and as lockdowns eased across the country.”
Jio reported a revenue of Rs 24,176 crore while net profit came in at Rs 3,795 crore. On the sequential basis, Jio PAT was almost flat even as it witnessed an increase in its ARPU. Jio’s ARPU during the quarter came at Rs 151.6 per month, which is 8.4% higher on YoY basis.