RIL Q2FY22 Results: Consolidated PAT jumps 46% to Rs 15,479 cr - check full earnings here
Index heavyweight Reliance Industries reported healthy numbers on a year-on-year basis, as the consolidated profit surged by 46 per cent to Rs 15,479 crore during the second quarter of the financial year of FY2021-22 (Q2FY22), the company said in an exchange filing on Friday.
Index heavyweight Reliance Industries reported healthy numbers on a year-on-year basis, as the consolidated profit surged by 46 per cent to Rs 15,479 crore during the second quarter of the financial year of FY2021-22 (Q2FY22), the company said in an exchange filing on Friday.
Similarly, the consolidated gross revenue for the quarter jumped 49.2 per cent to Rs 1,91,532 crore and consolidated EBITDA (earnings before interest, taxes, depreciation, and amortization) for the quarter grew by 30 per cent to Rs 30,283 crore year-on-year, RIL said in the results statement.
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The conglomerate’s digital arm Jio Platforms Limited (JPL) to reported a growth YoY basis, as the consolidated profit of the subsidiary, surged by 23.5 per cent to Rs 3,728 crore, while consolidated gross revenue came at 15.2 per cent higher to Rs 23,222 crore with an adjusted IUC (Interconnection Usage Charges), the company mentioned in its earnings statement.
JPL reported ARPU (average revenue per user) at Rs 143.6 per subscriber per month, and total data traffic during the July-September quarter came at 23 billion GB, up 50.9 per cent.
The management in results commentary said, “The company’s oil-to-chemical business benefited from sharp recovery in demand across products and higher transportation fuel margins. Similarly, Reliance Retail continues to grow on the back of rapid expansion of both physical stores and digital offerings resulting in healthy growth in revenues and margin expansion.”
While the company’s digital services business continues to transform the broadband market in India and set new benchmarks for the industry, the management further said.
Acquisitions and Merger in Q2
• Reliance New Energy Solar Ltd (RNESL) invested USD 50 million to acquire 42.3 million shares of preferred stock in Ambri Inc, an energy storage company based in Massachusetts, USA.
• RNESL entered into an agreement with NexWafe GmbH (NexWafe) for acquiring 86,887 series C preferred shares of face value of EUR 1 each of NexWafe at a price of EUR 287.73 per share aggregating EUR 25 million
• RNESL to acquire 40 per cent stake in Sterling & Wilson Solar Ltd (SWSL), which will provide the company access to world-class talent, engineering and project management skills.
• Reliance Retail Ventures Limited (“RRVL”), through its wholly owned subsidiary, 7-India Convenience Retail Limited, has entered into a master franchise agreement with 7-Eleven, Inc. (“SEI”) for the launch of 7-Eleven® convenience stores in India.
• RRVL has taken sole control of Just Dial Limited in accordance with the SEBI Takeover Regulations with effect from September 1, 2021. RRVL now holds 67 per cent in Just Dial Limited.
09:57 PM IST