RIL Q1 result Highlights: Mukesh Ambani's company reports 6.8 percent profit
Reliance Industries Ltd (RIL) today announced results for Q1 FY2019-20. RIL's profit has increased to 6.8%. The growth in RIL's retail and telecoms businesses helped offset a slowdown at its mainstay oil refining and petrochemical operations. The Net profit of RIL has climbed to $1.47 billion in the first quarter of FY20 ended June 30. Here are the highlights:
- RIL reports Quarterly consolidated Net profit of ₹ 10,104 crore ($ 1.5 billion), up 6.8% Y-o-Y.
- RIL reports Q1 FY2019-20 Record quarterly consolidated revenue of ₹ 172,956 ($ 25.1 billion) up 22.1% Y-o-Y.
- The company has posted Record standalone net profit of ₹ 9,036 crore ($ 1.3 billion), up 2.4% Y-o-Y.
- The company has reported a record EBITDA from Retail and Digital Services business; Consumer businesses account for nearly 32% of segment EBITDA.
- Jio results: Reliance Jio's strong momentum in subscriber additions has continued with gross addition of 33.8 million in the quarter ended June. Despite larger consumer base across tariff plans, customer engagement has improved with higher data usage of 11.4 GB per user per month; VoLTE voice consumption per sub at 821 minutes per month, ARPU at ₹ 122, RIL said.
- Reliance Retail revenue goes up 48% Y-o-Y to Rs 38,186 crore; Record Retail EBITDA of ₹ 2,049 crore, up 70% Y-o-Y.
- The company tweeted, "Reliance Retail growing faster than every other player across geographies, formats and verticals; Now has 10,644 stores across 6,700+ towns and cities, area of over 23 Mn sqft; Crossed 100mn registered customers & 150mn footfalls in the quarter."