RIL posts 46.3% growth in Consolidated PAT in Q1 FY'23

In the Retail business, we continue to focus on enhancing our consumer touch-points and building a stronger value proposition for our customers: Mukesh Ambani

RIL posts 46.3% growth in Consolidated PAT in Q1 FY'23
Mukesh D. Ambani, Chairman, and Managing Director, Reliance Industries Limited

New Delhi: The Indian multinational conglomerate company, Reliance Industries Limited posted a 46.3% growth in consolidated net profit to Rs. 17,955 crores for the quarter ending June 30, 2022 (Q1FY23). The company records quarterly consolidated EBITDA at Rs. 40,179 Crore, up by 45.8% Y-O-Y. 

RIL registered the ever quarterly revenue for O2C business in a volatile environment, the best ever quarterly revenue for REliance retail stands at Rs. 58,554 Crore. up by 51.9% Y-O-Y. 

The Quarterly revenue for jio platform stands at Rs. 27,527 Crore up by 23.6% Y-O-Y.

RESULTS AT A GLANCE (1Q FY23 COMPARED WITH 1Q FY22)

CONSOLIDATED - RIL
• Gross Revenue for the quarter was Rs. 242,982 crore ($ 30.8 billion), higher by 53.0%
• EBITDA for the quarter was Rs. 40,179 crore ($ 5.1 billion), higher by 45.8%
• Net Profit for the quarter was Rs. 19,443 crore ($ 2.5 billion), higher by 40.8%
• Cash Profit for the quarter was Rs. 31,916 crore ($ 4.0 billion), higher by 46.2%.
• EPS for the quarter was Rs. 26.5 per share, increase by 40.0%

STANDALONE - RIL
• Gross Revenue for the quarter was Rs. 157,716 crore ($ 20.0 billion), higher by 66.4%
• EBITDA for the quarter was Rs. 24,539 crore ($ 3.1 billion), higher by 63.1%
• Net Profit for the quarter was Rs. 15,096 crore ($ 1.9 billion), higher by 75.6%
• Cash Profit for the quarter was Rs. 18,470 crore ($ 2.3 billion), higher by 69.4%
• Exports for the quarter were Rs. 96,212 crore ($ 12.2 billion), higher by 71.3%

Commenting on the results, Mukesh D. Ambani, Chairman, and Managing Director, Reliance Industries Limited said: “Geopolitical conflict has caused significant dislocation in energy markets and disrupted traditional trade flows. This along with resurgent demand has resulted in tighter fuel markets and improved product margins. Despite significant challenges posed by the tight crude markets and higher energy and freight costs, O2C business has delivered its best performance ever. I am also happy with the progress of our Consumer platforms. In Retail business, we continue to focus on enhancing our consumer touch-points and building a stronger value proposition for our customers. 

Our strong supply chain infrastructure and sourcing efficiency is helping us maintain competitive pricing for daily essentials, thereby insulating consumers from inflationary pressures. Customer engagement on our Digital Services platform remains high. Jio is working towards expanding data availability for all Indians and I am pleased to see the positive trends in mobility and FTTH
subscriber additions.

Reliance is committed to invest in India’s energy security. Our New Energy business is forging partnerships with technology leaders in solar, energy storage solutions and the hydrogen eco-system. These partnerships will help us realize the vision of clean, green and affordable energy solutions for all Indians.”