Mumbai: Reliance Industries Ltd. (RIL) net profit jumped by 37.9% to Rs.20,539 crore in 3Q FY 22.
“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 D. Ambani, chairman and managing director, Reliance Industries Limited, when commenting on the Q3 FY22 results
• Reliance posts record consolidated revenues at ₹209,823 crore ($28.2 billion), up 52.2% YoY
• Reliance posts record consolidated EBITDA at ₹33,886 crore ($4.6 billion), up 29.9% YoY
• Record consolidated Profit after Tax (after exceptional items) for the quarter at ₹20,539 crore ($ 2.8 billion), up 37.9% YoY
• Consolidated EPS for the quarter was ₹28.1 per share, up 38.1% YoY
• Record quarterly Revenue of Digital Services at ₹ 25,200 crore, up 6.4% YoY. EBITDA for Digital Services crossed ₹10,000 crore mark for the first time
• Reliance Retail delivered a landmark quarter with all time high revenue and EBITDA
• The Company’s outstanding debt as on December 31, 2021 was ₹244,708 crore ($32.9 billion). Cash and cash equivalents as on December 31, 2021 were at ₹241,846 crore ($32.5 billion).
• Reliance’s capital expenditure (including exchange rate difference) for the quarter ended December 31, 2021 was ₹ 27,582 crore ($ 3.7 billion)
Jio Platforms
“Our digital services business has delivered broad based, sustainable, and profitable growth through improved customer engagement and subscriber mix,” said CMD Mukesh D. Ambani, when commenting on the Q3 FY22 results
• Jio Platforms consolidated Gross Revenue for the quarter was ₹24,176 crore ($3.3 billion), higher by 13.8% Y-o-Y (adjusted for IUC)
• Jio Platforms consolidated EBITDA for the quarter was ₹ 10,008 crore ($ 1.3 billion), higher by 18.1% Y-o-Y
• Jio Platforms’ EBITDA Margin at 48.6%, increased 503 bps Y-o-Y led by IUC related adjustment and ARPU increase in connectivity business
• Jio Platforms’ Net Profit for the quarter was ₹3,795 crore ($511 million), higher by 8.8% Y-o-Y
• Jio’s total customer base as on 31st December 2021 of 421.0 million, net addition of 10.2 million customers on YoY basis
• Gross subscriber addition remains strong with total gross adds of 34.6 million in Q3FY22 driven by both mobility and FTTH businesses
• Jio’s ARPU during the quarter of ₹151.6 per subscriber per month thanks to better subscriber mix and recent tariff hike, which is healthy 8.4% growth on YoY basis (adjusted for IUC). Full impact of tariff hike to be reflected in ARPU and financials over the next few quarters
• Jio now has over 5 million connected wireline customers and has been consistently enriching its FTTH product with new apps on STB, Society Centrex, 4K content on JioTV+, Home Secure, Home Automation, LiveTV and Gaming solutions
• 5G coverage planning has been completed for almost 1,000 top cities across the country; Trials on for advanced use cases across Healthcare and Industrial Automation on 5G network
Reliance Retail
“Retail business activity has normalized with strong growth in key consumption baskets on the back of festive season and as lockdowns eased across the country,” said CMD Mukesh Ambani.
• Reliance Retail recorded Consolidated Gross Revenue of ₹57,714 crore, a growth of 52.5% YoY. All time high revenues recorded across all consumption baskets driven by highest ever store sales and sustained growth momentum in digital & new commerce
• Reliance Retail posted a record EBITDA of ₹3,822 crore, up 23.8% YoY; EBITDA margins stood at 7.0%
• Reliance Retail’s Net Profit for the quarter was ₹2,259 crore ($304 million), higher by 23.4% Y-o-Y
• Digital and New Commerce continued to flourish with merchant partnerships and Digital commerce orders scaling new highs. Merchant partners grew 4x YoY while digital commerce orders grew 2x YoY
• Reliance Retail opened 837 new stores during the quarter taking the total count to 14,412 stores; Area operated stood at 40.0 million, up 28.2% Y-o-Y
• JioMart and WhatsApp have launched a conversational commerce platform powered by JioHaptik during the quarter, to make digital shopping a simple extension of messaging
Reliance O2C
“The recovery in global oil and energy markets supported strong fuel margins and helped our O2C business deliver robust earnings,” said Ambani.
• Reliance O2C segment Revenue increased by 56.8% Y-o-Y to ₹131,427 crore ($17.7 billion) primarily on account of increase in crude oil prices and higher volumes
• O2C segment EBITDA improved by 38.7% Y-o-Y to ₹13,530 crore ($1.8 billion) primarily on account of better transportation fuel cracks and higher polyester chain delta
• Total Throughput (including Refinery throughput) was at 19.7 MMT, an increase of 8.2% Y-o-Y
• Reliance BP Mobility Limited, operating under the brand name Jio-bp, has launched one of country’s largest EV charging hubs in Dwarka, Delhi with BluSmart as its primary customer
Reliance Oil & Gas
“Our Oil & Gas segment has achieved a remarkable turnaround, with volume growth and improved realization,” said the CMD.
• Reliance’s Oil & Gas segment posted 493.7% YoY spurt in revenues to ₹2,559 crore with Segment EBITDA of ₹2,033 crore
• The total O&G production during the quarter stood at 53.3 BCFe, up 87% Y-o-Y
• KGD6 production remained stable Q-o-Q at over 18.0 MMSCMD from R Cluster and Satellite Cluster fields. MJ field development is on track to commence production in Q3 FY23
• Reliance completed the sale of its interest in Eagle ford Shale assets for a consideration of $402 million, thereby exiting from the shale gas business in North America
Green Energy
“We are making steady progress towards achieving our vision of Net Carbon Zero by 2035. 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. We continue to pursue growth initiatives and collaborate with global leaders who share our vision of co-developing a more sustainable future for our planet,” said Ambani.