Reliance posts record high net profit with 12% rise in Q3; digital, retail businesses key drivers

Reliance Industries Ltd (RIL) posted a 12 per cent year-on-year increase in consolidated net profit for the quarter ended December 31, reaching a record Rs 21,930 crore. The rise was driven by robust performances in the company’s digital services, retail, and oil-to-chemicals businesses.

Revenue and profit growth

Reliance’s quarterly revenue rose 7.7 per cent to Rs 2.67 lakh crore, while Earnings Before Interest, Taxes, Depreciation, and Amortisation (Ebitda) climbed 7.8 per cent to Rs 48,003 crore.

The Ebitda margin expanded by 10 basis points year-on-year to 18 per cent and widened by 1 percentage point compared to the previous quarter.

Oil and gas business performance

The oil and gas business reported an Ebitda of Rs 5,565 crore for the quarter, with a 100 basis points improvement in Ebitda margin to 87.4 per cent.

Revenue from the segment stood at Rs 6,370 crore, according to Moneycontrol.

Digital services lead growth

The digital services division recorded a 17 per cent surge in Ebitda, reaching Rs 16,640 crore, driven by higher Average Revenue Per User (ARPU) of Rs 203.3. Jio, RIL’s telecom arm, continued its aggressive 5G rollout, boasting 170 million True5G subscribers, contributing 40 per cent of the company’s wireless traffic.

Jio Platforms registered a profit of Rs 6,861 crore, a 26 per cent year-on-year increase, while the segment’s revenue from operations rose 19.4 per cent to Rs 33,074 crore. Jio’s subscriber base grew to approximately 482 million as of December 31, a 2.4 per cent increase from a year ago.

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“Robust growth in digital services business was led by sustained subscriber addition and consistent improvement in customer engagement metrics,” said Mukesh Ambani, Chairman and Managing Director, Reliance Industries Ltd.

Retail segment growth

Reliance Retail posted a net profit of Rs 3,458 crore in the third quarter, up 10 per cent year-on-year. Gross revenue rose 8.8 per cent to Rs 90,333 crore, boosted by festive buying across various consumption categories.

“Reliance Retail delivered strong performance during the quarter led by festive buying across consumption baskets,” said Isha Ambani, Executive Director of Reliance Retail Ventures Ltd. “We are creating through JioMart – express deliveries, scheduled deliveries coupled with Milkbasket - subscription services, a seamless shopping experience that serves diverse customers.”

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