Reliance Industries, the country's most valuable company with a market capitalization of Rs 17 lakh crore reported a 41.5 per cent increase in the net profit to Rs 18,549 crore, according to the company’s regulatory filing on BSE. The company had reported a net profit of Rs 13,680 crore in the previous quarter.
The company posted record revenue of Rs 2,09,823 crore or $28.2 billion, which was up by 52 per cent annually. The company’s consolidated earnings before interest, taxes, depreciation and amortization (EBITDA) rose 30 per cent at Rs 33,886 crore in the December quarter.
“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 a strong contribution from all our businesses,” said Mukesh D. Ambani, Chairman and Managing Director, Reliance Industries Limited.
The company’s telecom arm, Reliance Jio, reported a 14 per cent year-on-year (YoY) increase in gross revenue at Rs 24,176 crore, for the quarter ending on December 2021. The company’s consolidated EBITDA rose 18 per cent at Rs 10,008 crore for the Q3 of FY22. Its EBITDA margin grew 503 basis points at 48.6 per cent in the December quarter. Its profit rose 8.8 per cent to Rs 3,795 crore compared to the year-ago period.
The billionaire Mukesh Ambani led retail arm, Reliance Retail, reported a 23 per cent increase in net profit to Rs 2,259 crore, for December quarter. Its revenue was advanced 53 per cent annually to Rs 57,714 crore. The jump in revenue was boosted by the highest ever store sales and sustained growth momentum in digital & new commerce. Its operating profit grew by 24 per cent annually to Rs 3,822 crore for the current financial year.
Reliance share declined by 1.1 per cent to close at Rs 2,450 ahead of its December quarter earnings announcement.