Net profit at Rs 18,549 Crore, Beats Street Estimates; Jio Arpu rises to Rs 151.6 / month
Reliance Industries Ltd (RIL) on Friday reported record consolidated net profit of Rs 18,549 crore for the quarter ended December, up 33.8% sequentially. Quarterly revenue stood at Rs 1.85 lakh crore for the conglomerate during the October-December period, up from Rs 1.67 lakh crore in the previous quarter, thanks to strong operational and financial performance across all verticals.
Reliance Industries reported earnings before interest, tax, depreciation and amortization (EBITDA) of Rs 29,706 crore for the October-December period. The company’s EBITDA margin was 16.05%.
Analysts expected the company’s EBITDA to reach Rs 28,700 crore and EBITDA margin at 14.8%.
“I am pleased to report that Reliance delivered another quarter of outstanding performance in Q3 FY22. We delivered record operating results with strong contribution from all of our businesses,” said Mukesh Ambani, President and CEO of Reliance Industries.
Petroleum-to-chemicals revenue rose to Rs 1.31 lakh crore in the December quarter from Rs 1.2 lakh crore in the previous three months, according to a regulatory filing.
Analysts had predicted Jio’s net profit at Rs 3,451 crore and revenue at Rs 19,330 crore.
“Our digital services business has generated global, sustainable and profitable growth through improved customer engagement and subscriber mix,” Ambani said.
Reliance Jio’s EBITDA increased by 5.8% in the quarter to Rs 9,514 crore, and EBITDA margin improved to 49.2% from 48% in the previous quarter.
Analysts had estimated the telecom operator’s EBITDA at Rs 9,367.5 crore and the EBITDA margin at 48.5%.
Jio’s average revenue per user (ARPU) increased to Rs 151.6 per month in the third quarter of FY22 from Rs 143.6 per month in the three months to September 2021.
First post: STI