Mukesh Ambani-led Reliance Industries Ltd (RIL) on Friday reported a consolidated net profit of Rs 13,680 crore for the second quarter ended September 30. Net profit in the second quarter of the current fiscal at Rs 13,680 crore compared to Rs 9,567 crore a year back.

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Revenue increased to Rs 1,78,328 crore in the September quarter from Rs 1,20,444 crore a year back. The company's earnings before interest, taxes, depreciation and ammortisation came in at Rs 26,020 crore in the three months to September 30, as against Rs 23,368 crore in the previous quarter. Its EBITDA margin came in at 15.5 percent, as against 16.7 percent in the quarter ended June 30.

Revenue from the oil-to-chemicals (OTC) business rose to Rs 1.20 lakh crore in the July-September period, from Rs 1.03 lakh crore in the previous quarter. Earnings before interest and taxes (EBIT) from the OTC unit were at Rs 10,747 crore in Q1, as against Rs 10,394 crore in the previous quarter. The EBIT margin in the vertical was at 8.9 percent in the three months to September 30, as against 10.1 percent in the June quarter.

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Reliance Industries Q2: Rs 13,680 crore net profit beats Street estimates, oil-to-chemicals revenue at Rs 1.2 lakh crore

Reliance's oil and gas segment posted a 363 percent YoY spurt in revenues to Rs 1,644 crore with segment EBITDA of Rs 1,071 crore. This is on the back of the start of production from satellite cluster fields in the KG-D6 block, taking the overall production to 18 million standard cubic metres per day. The firm's cash and cash equivalents at Rs 259,476 crore were higher than the outstanding debt of Rs 2,55,891 crore as of September 30, 2021, maintaining the net-debt-free position.

Reliance's capital expenditure (including exchange rate difference) for the quarter ended September 30, 2021, was Rs 39,350 crore. Commenting on the results, Ambani, Chairman and Managing Director, Reliance Industries Limited, said: "As the pandemic retreats, I am pleased that Reliance has posted a strong performance in Q2 FY22. This demonstrates the inherent strengths of our businesses and the robust recovery of the Indian and global economies." Operational and financial performance reflects the sharp recovery in the retail segment and sustained growth in O2C and digital services business.

"Our O2C business benefited from the sharp recovery in demand across products and higher transportation fuel margins. 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," he said adding Jio continues to transform the broadband market in India. Ambani said Reliance continues to make steady progress in accelerating its foray into the new energy business, having announced back-to-back acquisitions.

"Our partnership approach and the desire to bring India to the forefront of the global transition to clean and the green transition is underscored by our recent investments in some of the best companies in the world in the solar and green energy space," he said. "I am now even more confident of achieving our ambitious target of Net Carbon Zero by 2035."

Reliance Jio

The telecom arm of RIL reported a standalone net profit at Rs 3,528 crore in the quarter ended September 2021. The company posted a net profit of Rs 3,501 crore in the quarter ended June 2021. The standalone revenue rose 4 percent at Rs 18,735 crore against Rs 17,994 crore, QoQ.

Also Read: Reliance Jio Q2FY22: Profit at Rs 3,528 crore meets poll expectation; ARPU beats estimates

The standalone earnings, before interest, depreciation and amortization (EBITDA) was at Rs 8,989 crore versus Rs 8,617, while the margin was at 48 percent versus 47.9 percent, QoQ. The average revenue per user or ARPU, however, has beaten expectations handsomely coming in at Rs 143.60 versus an expectation of Rs 140.50, as per our poll. The company added 429.50 million subscribers in the reported period.

India's largest telecom operator has reported a standalone EBITDA at Rs 8,989 crore versus an expectation of Of Rs 9,150 crore. The EBITDA margin reading is at 48 percent which is exactly as per our estimate.

Total data traffic was 23.0 billion GB during the quarter, a growth of 50.9 percent. Its total customer base as of September 30, 2021, was 429.5 million, with a net addition of 23.8 million customers. During 2Q FY22, average data and voice consumption per user per month increased to 17.6 GB and 840 minutes, respectively, with significantly higher customer engagement on the network, the company said in the release.

Reliance Retail

The company reported a 74.2 percent year-on-year (YoY) jump in consolidated net profit to Rs 1,695 crore for the quarter ended September 2021.

Consolidated revenue from operations came in at Rs 39,926 crore in the reporting quarter as compared to Rs 36,566 crore in the year-ago period. "Reliance Retail delivered a strong performance with consolidated Gross Revenue recorded at Rs 45,426 crore for 2Q FY22, a growth of 10.5 percent Y-o-Y and higher than Pre-COVID period," RIL said in the earnings release.

Also Read: Reliance Retail Q2 Results: Consol net profit jumps 74% YoY to Rs 1,695 crore

Meanwhile, the company's earnings before interest, taxes, depreciation, and amortization (EBITDA) stood at Rs 2,913 crore in Q2 FY22, up 45.2 percent on-year. A favourable revenue mix continued focus on cost management and investment income boosted EBITDA. Total 13,635 physical stores were operational during the quarter and 813 stores were opened during the period, the press release said.

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