Mumbai: Reliance Industries (RIL), India’s largest company by market value, on Friday reported a 46% jump in quarterly profit, driven by higher value realizations across its oil-to-chemical (O2C), digital services (Jio) and retail businesses. got help from Profit rose to Rs 15,479 crore in Q2FY22.
Total revenue crossed Rs 1.7 lakh crore in the first quarter of FY12 as the market resurfaced after the second wave of the pandemic. Operating profit jumped 30% to Rs 30,283 crore in the months of July to September, aided by strong earnings across its three core businesses. “The results demonstrate the inherent strength of our businesses and the strong recovery of the Indian and global economies. All our businesses reflect growth pre-covid level,” said the Chairman and MD Mukesh Ambani.
O2C’s operating profit grew 44% to Rs 12,720 crore on account of higher volume and value realizations.
Operating profit of digital services climbed 15% to Rs 9,561 crore due to higher data usage by customers. However, average revenue per user (ARPU) – a key metric that affects earnings – was slightly lower at Rs 144 in Q2FY22. ARPU is the total revenue of the telecom operator divided by the number of users on its network. Launched in 2016, Jio has 430 million subscribers (as of the end of September, down from 441 million in the previous quarter) and saw data and voice traffic on its network grow by 51% and 18%, respectively. The ARPU in the year-ago period was Rs 145.
operating profit of retail business 44% to Rs 2,923 crore as pandemic-related restrictions eased operating conditions and vaccines helped boost sales. RIL said a strong revival in consumer sentiments amid the festivities saw strong growth across all consumption baskets.
Total revenue crossed Rs 1.7 lakh crore in the first quarter of FY12 as the market resurfaced after the second wave of the pandemic. Operating profit jumped 30% to Rs 30,283 crore in the months of July to September, aided by strong earnings across its three core businesses. “The results demonstrate the inherent strength of our businesses and the strong recovery of the Indian and global economies. All our businesses reflect growth pre-covid level,” said the Chairman and MD Mukesh Ambani.
O2C’s operating profit grew 44% to Rs 12,720 crore on account of higher volume and value realizations.
Operating profit of digital services climbed 15% to Rs 9,561 crore due to higher data usage by customers. However, average revenue per user (ARPU) – a key metric that affects earnings – was slightly lower at Rs 144 in Q2FY22. ARPU is the total revenue of the telecom operator divided by the number of users on its network. Launched in 2016, Jio has 430 million subscribers (as of the end of September, down from 441 million in the previous quarter) and saw data and voice traffic on its network grow by 51% and 18%, respectively. The ARPU in the year-ago period was Rs 145.
operating profit of retail business 44% to Rs 2,923 crore as pandemic-related restrictions eased operating conditions and vaccines helped boost sales. RIL said a strong revival in consumer sentiments amid the festivities saw strong growth across all consumption baskets.
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