Reliance Industries posts record consolidated revenues at Rs 2.42 lakh crore in Q1 FY23

New Delhi, July 22 (IANS) Reliance Industries Ltd (RIL) posted record consolidated revenues at Rs 2.42 lakh crore ($30.8 billion) in Q1 FY23, up 53 per cent year on year.

Reliance posted record quarterly consolidated EBITDA at Rs 40,179 crore ($5.1 billion), up 45.8 per cent YoY and the highest ever quarterly consolidated Profit Before Tax (PBT) at Rs 27,236 crore ($3.4 billion), up 57.7 per cent YoY.

The consolidated Net Profit for the quarter was Rs 19,443 crore ($2.5 billion), higher by 40.8 per cent.

EPS for the quarter was Rs 26.6 per share which increased by 42.7 per cent. Reliance's exports for the quarter was Rs 96,212 crore ($12.2 billion), higher by 71.3 per cent.

RIL's capital expenditure (including exchange rate difference) for the quarter ended 30th June, 2022 was Rs 31,434 crore ($4.0 billion).

Jio Platforms' EBITDA for the quarter was Rs 11,424 crore ($1.4 billion), an increase of 28.5 per cent and net profit for the quarter was Rs 4,530 crore ($574 million), a growth of 24.1 per cent.

Reliance Jio's ARPU, during the quarter, of Rs 175.7 per month, saw a healthy 26.9 per cent growth on YoY basis and 4.8 per cent growth on QoQ basis, driven by residual impact of tariff hike and contribution from FTTH.

Reliance Jio Net subscriber addition witnessed a strong rebound to 9.7 million driven by continued strength in gross adds at 35.2 million with a total customer base, as on June 30, of 419.9 million.

Reliance Jio average data and voice consumption per user per month increased to 20.8 GB and 1,001 minutes, respectively. Total data traffic at 25.9 bn GB was up by 27.2 per cent up; Total voice traffic at 1.25 trillion mins was up by 17.2 per cent.

Jio continued to extend its leadership position in FTTH services with further acceleration in homes connected. Jio now has 7 million connected premises.

Reliance Retail Gross Revenue for the quarter was Rs 58,554 crore ($7.4 billion), higher by 51.9 per cent. Reliance Retail EBITDA for the quarter was Rs 3,837 crore ($486 million), higher by 97.7 per cent. Reliance Retail Net Profit for the quarter was Rs 2,061 crore ($261 million), higher by 114.2 per cent.

Reliance Retail witnessed its first quarter without any operating disruptions since the onset of Covid and footfalls surpassed pre-COVID levels as consumers returned to stores and crossed a milestone of 200 million registered customers.

The registered customer base stood at 208 million at the end of the quarter, up 29 per cent YoY. Reliance Retail opened 720 stores in the quarter, taking the total count to 15,916 stores with an area of 43.2 million sq ft covering all corners of the country.

Reliance Retail bolstered its supply chain capabilities with addition of 79 warehousing and fulfillment locations measuring 3.3 million sq ft of space during the quarter.

Reliance Retail Digital Commerce daily orders stood at 66 per cent up YoY and new Commerce merchant base stood 3x over last year. Reliance Retail added over 17,000 jobs during the quarter, and the total employee count stands at 3.79 lakh.

Reliance O2C had its best-ever quarterly performance with all-time-high revenue and EBITDA. Segment Revenues increased by 56.7 per cent YoY to Rs 1.61 lakh crore primarily on account of higher crude oil and product prices.

Reliance O2C EBITDA improved by 62.6 per cent YoY to Rs 19,888 crore on account of sharp rise in transportation fuel cracks and better volumes. Reliance Oil & Gas segment revenues increased by 183 per cent YoY to Rs 3,625 crore while the segment EBITDA jumped to ?2,737 crore, due to improved realisations, and higher volumes.