Reliance Q2 Results: Revenue from operations jumped 50 per cent in second quarter The country's most valued company - Reliance Industries - on Friday reported net profit of Rs 13,680 crore in quarter ended September 30, 2021, marking a rise of 42.99 per cent from the same quarter last year on the back of higher demand of oil products.
Reliance Industries total expenses in the quarter jumped almost 45 per cent annually to Rs 1,59,133 crore The oil-to-telecom conglomerate's revenue from operations in the second quarter of the current fiscaladvanced 50per cent to Rs 1.74 lakhcrore compared toRs 1.16 lakhcrore in the year ago period.Reliance Industries earnings before interest, tax, depreciation and amortization (EBITDA) also known as the operating profit came in Rs 30,283, up almost 30per cent."As the pandemic retreats, I am pleased that Reliance has posted a strong performance in 2Q FY22.
This demonstrates the inherent strengths of our businesses and the robust recovery of the Indian and global economies.
All our businesses reflect growth over pre-COVID levels,''said MrMukesh D.
Ambani, Chairman and Managing Director, Reliance Industries Limited.Reliance's Oil-to-Chemicals (O2C) segment's revenue rose 58 per cent to Rs1,20,475 crorebenefittingfrom sharp recovery in demand across products, increase in oil prices,and higher transportation fuel margins.The company's telecom arm - Reliance Jio's net profit in the July-Septemberperiod stood at Rs 3,728crore, compared to Rs 3,019 crore in the correspondingperiod last year, marking a growth of 24 per cent year-on-year, according to the stock exchange filing by Reliance Industries.Jio's average revenue per user (ARPU), a key metric to evaluate the performance of a telecom company, improved to Rs 143.6per user per month from Rs 138.4in the preceding April-Junequarter.Reliance Retail's net profit surged 74 per centto Rs 1,695crore - higher than pre-Covid period,while its EBITDA came in at Rs 2,913crore, up 45per cent.
During the quarter, Reliance Retail opened 183new stores taking the total number of operational stores to 13,635stores, Reliance Industries said.Reliance Retail completed the acquisition ofMilkbasket -a subscription-based grocery delivery platform, Portico, the country's leading home styling solutions brand and JustDial -a leading local search engine platform.The retail armannounced strategic partnerships with major investments in Ritu Kumar's and Manish Malhotra's eponymous designer labels.
Additionally, AJIO - the digital ecommerce initiative reportedanother quarter of highest ever revenues.On Friday, October 22, shares of Reliance settled 0.15 per cent higher at Rs 2,627.05 apiece on the BSE.
Reliance Industries opened on the BSE at Rs 2,623.80, swinging to an intra day high of Rs 2,664.70 and an intra day low of Rs 2,611.40, throughout the trading session today.