RIL’s consolidated Q3 net profit jumps 37.9% YoY to Rs 20,539 cr

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Reliance Industries Ltd (RIL) on Friday reported a year-on-year rise of 37.9 per cent in its consolidated net profit for the quarter ended December 31, 2021, at Rs 20,539 crore.

In a regulatory filing, the company reported that its consolidated gross revenue for the quarter rose to Rs 209,823 crore, higher by 52.2 per cent.

Besides, the consolidated EBITDA for the quarter rose by 29.9 per cent to Rs 33,886 crore.

On a standalone basis, net profit for the quarter was higher by 17.8 per cent year-on-year at Rs 10,167 crore.

Its gross revenue on a standalone basis for the quarter rose by 71.9 per cent to Rs 122,811 crore.

“I am happy to announce that Reliance has posted best-ever quarterly performance in 3Q FY22 with strong contribution from all our businesses. Both our consumer businesses, retail and digital services have recorded highest ever revenues and EBITDA,” said RIL Chairman and Managing Director, Mukesh D. Ambani.

“During this quarter, we continued to focus on strategic investments and partnerships across our businesses to drive future growth.”

According to Ambani: “Retail business activity has normalised with strong growth in key consumption baskets on the back of festive season and as lockdowns eased across the country.

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

He further said that the recovery in global oil and energy markets supported strong fuel margins and helped ‘O2C’ business deliver robust earnings.

“Our Oil & Gas segment delivered strong growth in EBITDA with volume growth and improved realization. We are making steady progress towards achieving our vision of Net Carbon Zero by 2035,” he said.

“Our recent partnerships and investments in technology leaders in the solar and green energy space is illustrative of our commitment to partner India and the World in the transition to clean and green energy,” Ambani added.

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