RIL Q1 Profit At Rs. 12,200 Crore In Line With Street Estimates

Reliance Industries Q1Fy22 results are in line with estimated with consolidated revenue at Rs. 1.4 lakh crore. The company's net profit has come in at Rs. 12,200 crore. Consolidate profit has been reported at Rs. 13,806 crore. In the year ago period, the company recorded net profit of Rs. 13,233 crore owing to exceptional gains. On a sequential basis, the conglomerate's net profit surged 13%.

RIL Q1 Profit At Rs. 12,200 Crore In Line With Street Estimates

The company's EBITDA has come in at Rs. 23, 368 crore. Consolidated EBITDA margin expanded at 16%.

Subscriber addition in the Jio segment has increases phenomenally and average revenue per user has remained flat at Rs. 138.

In the 2021 AGM, the company announced a new energy business for bridging the green energy divide in the country and the rest of the world.

Value of aales and services for the quarter was ₹158,862 crore, higher by 57.4%.
Commenting on the results, Mukesh Ambani, Chairman and Managing Director,
Shares of RIL on BSE closed 0.79%. Reliance Industries Limited said: "I am happy that our Company has delivered robust growth despite facing a highly challenging operating environment caused by the second wave of the COVID pandemic. The results of the First Quarter of FY2022 clearly demonstrate the resilience of Reliance's diversified portfolio of businesses that cater to large parts of the consumption basket. In our O2C business, we generated strong earnings through our integrated portfolio and superior product placement capabilities. Along with our partner bp, we commissioned the satellite cluster in KG D6 and continued to ramp up production, contributing to 20% of gas production in India. This will be a major contribution to our country's energy security."

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