Reliance Industries Ltd (RIL) on Friday reported a record consolidated net profit of Rs 18,549 crore for the quarter ended December, up 33.8 percent sequentially. Quarterly revenues stood at Rs 1.85 lakh crore for the conglomerate in the October-December period, as against Rs 1.67 lakh crore in the previous quarter, led by robust operational and financial performance across verticals.

Analysts in a CNBC-TV18 poll had predicted Reliance Industries to post a net profit of Rs 15,660 crore over revenues of Rs 1.93 lakh crore.

Reliance Industries reported Rs 29,706 crore in earnings before interest, taxes, depreciation and ammortisation (EBITDA) for the October-December period. The company's EBITDA margin came in at 16.05 percent.

Analysts had expected the company's EBITDA at Rs 28,700 crore and the EBITDA margin at 14.8 percent.

“I am happy to announce that Reliance has posted yet another quarter of stellar performance in 3Q FY22. We have delivered record operational results with strong contribution from all our businesses,” said Mukesh Ambani, Chairman and Managing Director, Reliance Industries.

Revenue from the oil-to-chemicals rose to Rs 1.31 lakh crore in the December quarter, from Rs 1.2 lakh crore in the previous three months, according to a regulatory filing.

Revenue from the oil and gas business increased 55.7 percent sequentially to Rs 2,559 crore.

Revenue from the retail unit -- Reliance Retail Ventures -- jumped 27 percent on a quarter-on-quarter basis to Rs 57,717 crore.

Digital services

The conglomerate's digital arm -- Reliance Jio Infocomm -- reported a 2.5 percent sequential rise in net profit to Rs 3,615 crore. Revenue rose 3.3 percent to Rs 19,347 crore.

Analysts had predicted Jio's net profit at Rs 3,451 crore and revenue at Rs 19,330 crore.

"Our digital services business has delivered broad based, sustainable and profitable growth through improved customer engagement and subscriber mix," Ambani said.

Reliance Jio's EBITDA increased 5.8 percent on quarter to Rs 9,514 crore, and the EBITDA margin improved to 49.2 percent from 48 percent in the previous quarter.

Analysts had estimated the telecom operator's EBITDA at Rs 9,367.5 crore and the EBITDA margin at 48.5 percent.

Jio's average revenue per user (ARPU) improved to Rs 151.6 per month in the third quarter of FY22, from Rs 143.6 per month in the three months to September 2021.

Reliance Industries shares ended flat at Rs 2,478.1 apiece on BSE ahead of the earnings announcement. The headline Nifty50 index ended 0.8 percent lower at 17,617.2, extending losses for the fourth day in a row.

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First Published:Jan 21, 2022 8:04 PM IST