RIL Q1 results: Consolidated net profit falls 7% to Rs 12,273 crore

The oil-to-telecom conglomerate’s revenue from operations rose 58.2 per cent to Rs 1.44 trillion


Reliance Industries | RIL results | Mukesh Ambani

BS Web Team  | 
New Delhi 

Mukesh Ambani-led Reliance Industries Ltd (RIL) reported a consolidated net profit of Rs 12,273 crore for the three months ended June 30, 2021 (Q1FY22). This is a fall of 7.25 per cent from Rs 13,233 crore posted in the same period last year (Q1FY21).

However, last year’s June quarter profit included an exceptional gain of Rs 4,966 crore. This will mean a 48.4 per cent growth in adjusted profit after tax (PAT) over last year’s Rs 8,267 crore.

The oil-to-telecom conglomerate’s revenue from operations rose 58.2 per cent to Rs 1.44 trillion as compared to Rs 91,238 crore in the corresponding quarter of last year.

According to a Bloomberg consensus estimate, RIL was expected to post consolidated net revenue of Rs 1.47 trillion and a net profit of Rs 11,889 crore for the June quarter.

Commenting on the results, Mukesh Ambani, chief of RIL said: “I am happy that our Company has delivered robust growth despite facing a highly challenging operating environment caused by the second wave of the Covid pandemic. The results of the First Quarter of FY2022 clearly demonstrate the resilience of Reliance’s diversified portfolio of businesses that cater to large parts of the consumption basket.

“In our O2C business, we generated strong earnings through our integrated portfolio and superior product placement capabilities. Along with our partner bp, we commissioned the satellite cluster in KG D6 and continued to ramp up production, contributing to 20 per cent of gas production in India. This will be a major contribution to our country’s energy security,” he said.

Reliance Jio, the telecom of arm of the conglomerate, reported a 45 per cent year-on-year growth in consolidated net profit at Rs 3,651 crore in the June quarter as compared to Rs 2,519 crore in the same period last year.

The value of services for the quarter was Rs 22,267 crore, higher by 10 per cent year-on-year.

The customer base as on June 30, 2021 stood at 440.6 million, a net addition of 42.3 million customers year-on-year.

ARPU for Q1FY22 was Rs 138.4 per subscriber per month, with improved subscriber mix and better seasonality being offset by Covid impact.

On Friday, ahead of the results, RIL’s scrip closed 0.71 per cent lower at Rs 2,105 on NSE.

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