Mukesh Ambani-owned oil-to-chemicals-to-telecom conglomerate Reliance Industries Limited (RIL) on Friday posted a consolidated profit after tax (PAT) at Rs 16,203 crore, up 22.5 per cent in the quarter ended 31 March 2022 following strong performance across its energy, telecom, and retail verticals. The company had posted a net profit of Rs 13,227 crore in the year-ago period.
Sequentially, the company’s profit declined 12.6 per cent in the March quarter from Rs 18,549 crore in the previous December quarter.
RIL’s revenue from operations has come in at Rs 2,11,887 crore from Rs 1,54,896 crore in the same quarter last fiscal. It is now the first Indian corporate to cross $100 billion in sales revenues.
The board also recommended a dividend of Rs 8 per equity share of Rs 10 each for the financial year ended March 31, 2022.
The company’s EBITDA, or earnings before interest, taxes, depreciation, and amortization for the year stood at a record Rs 1,25,687 crore ($16.6 billion), higher by 28.8 per cent.
RIL noted that the continuance of the coronavirus (COVID-19) pandemic globally and in India is causing significant disturbance and slowdown of economic activity. The company’s operations and revenue were impacted due to COVID-19. However, it added that during the year ended March 31, 2022, there is no significant impact of COVID-19 on the operations.
Ambani Words
Mukesh Ambani, CMD, Reliance Industries: “Despite the ongoing challenges of the pandemic and heightened geopolitical uncertainties, Reliance has delivered a robust performance in FY2021-22.”
“Over the past year, we added over 2.1 lk new employees across our businesses with our consumer & technology biz creating a large part of these new jobs. I am pleased to report that our Retail biz has crossed 15,000 store benchmark,” he said.
Earlier RIL’s retail arm Reliance Retail Ventures Limited (RRVL) announced the acquisition of an 89% equity stake in Purple Panda Fashions Private Limited. Which owns and operates the Clovia business, with an investment of Rs 950 crore through a combination of secondary stake purchase and primary investment.
Ambani said JioFiber is now the largest broadband provider in India within two years of launch. The Oil and Gas business is now contributing 20% of domestic gas production, he added.
Reliance Jio
Reliance Industries’ subsidiary Reliance Jio Infocomm on May 6 reported a 13.6 percent quarter-on-quarter increase in net profit at Rs 4,313 crore for the quarter ended March, which was below the CNBC-TV18 poll of Rs 4,400 crore. The year-on-year growth in the bottom line was 22.9 percent.
The company’s revenues for the quarter grew 8 percent sequentially and 21.8 percent year-on-year to Rs 22,261 crore, which was higher than the CNBC-TV18 poll of Rs 20,800 crore.
The country’s largest telecom operator reported higher-than-expected revenues on the back of benefits from tariff hikes taken by the industry last year.
The revenue growth was driven by higher ARPU (average revenue per user) and ramp-up of wireline services, said Jio.
ARPU of Rs 167.6 per month saw a healthy 21.3 percent growth on a YoY basis and 10.5 percent growth on a QoQ basis led by tariff hike, better subscriber mix, and ramp-up of FTTH services, it added.
