Reliance Industries Reports 12.5% Jump In Q3 Profit

On Friday, Reliance Industries Limited (RIL) reported a 12.5% rise in consolidated net profit at Rs 13,101 crore for the quarter ending December 2020 from Rs 11,640 crore a year ago.

The company said it had recorded highest ever quarterly consolidated profit before exceptional items at Rs 15,015 crore and EBITDA at Rs 26,094 crore.

Consolidated revenue from operations fell 22% to Rs 1.23 lakh crore as against Rs 1.57 lakh crore in the year-ago period.

"The outbreak of coronavirus (COVID-19) pandemic globally and in India is causing significant disturbance and slowdown of economic activity. The Group's operations and revenue during the period were impacted due to COVID-19," RIL said.

"Outstanding debt as on 31 December, 2020 was Rs 2,57,413 crore ($ 35.2 billion). Cash and cash equivalents as on 31 December, 2020 were at Rs 220,524 crore ($ 30.2 billion)," it added.

"At a time when the Indian economy is poised for a confident recovery, we at Reliance are humbled that we have been able to contribute to it with our Company's impressive performance in the third quarter of FY21," said Chairman and Managing Director Mukesh Ambani, adding, "We have delivered strong operational results during the quarter with a robust revival in O2C and Retail segments, and a steady growth in our Digital Services business."

"With effect from this quarter, the Company will disclose Oil to Chemicals (O2C) as a separate business segment," RIL said in a stock exchange filing.

"Our Oil-to-Chemicals (O2C) business has formally reorganised its reporting segments to reflect our new strategy and management matrix for this enterprise. The reorganised structure will facilitate holistic and agile decision making and enable us to pursue attractive new opportunities for growth, with strategic partnerships with the best and the biggest in this business globally. The O2C platform will increasingly move further downstream and become closer to customers. It will create planetfriendly and affordable energy and materials solutions to meet the growing needs of every sector of the Indian economy," Ambani said.

Consolidated results- RIL

• Revenue for the quarter was Rs 137,829 crore ($18.9 billion) higher by 7.4% from the previous quarter.
• EBITDA before exceptional item for the quarter was Rs 26,094 crore ($3.6 billion) higher by 12.0%.
• Net Profit before exceptional item for the quarter was Rs 15,015 crore ($2.1 billion) higher by 41.6%.
• Cash Profit before exceptional item was Rs 21,473 crore ($2.9 billion) higher by 27.5%.
• EPS (Earnings Per Share) before exceptional item was Rs 20.5 per share, increased 38.2%.

During the December-ended quarter, the company made an exceptional loss of Rs 121 crore in on account of impairment of shale gas assets (net of deferred tax asset thereon).

The exceptional gain of Rs 4,845 crore in the 9 months of the financial year 2020-21 includes profit on the divestment of shares of Reliance BP Mobility Limited of Rs 4,966 crore in the June-ended quarter.

 

Jio Platforms (QoQ)

• Revenue including access revenues for the quarter was Rs 22,858 crore ($ 3.1 billion) higher by
• 5.3%.
• EBITDA for the quarter was Rs 8,483 crore ($ 1.2 billion) increase of 6.4%.
• Net profit for the quarter was Rs 3,489 crore ($ 477 million) growth of 15.5%.
• Total Customer base as on 31 December 2020 of 410.8 million, a net addition of 5.2 million customers.
• ARPU (average revenue per user) during the quarter of Rs 151 per subscriber per month as against Rs 145 per subscriber per month in the trailing quarter
• Total data traffic during the quarter of 1,586 crore GB; 4.0% growth from the previous quarter.

Reliance Retail (QoQ)

• Revenue for the quarter was Rs 37,845 crore ($ 5.2 billion) lower by 7.9% quarter-on-quarter.
• EBITDA for the quarter was Rs 3,087 crore ($ 422 million) higher by 53.9%.
• Net profit for the quarter was Rs 1,830 crore ($ 250 million) higher by 88.1%.
• Cash Profit for the quarter was Rs 2,482 crore ($ 340 million) higher by 76.3%.
• 12,201 operational physical stores; 327 stores opened during the quarter.
• Area of operation - 31.2 million sq. feet as compared to 29.7 million sq. feet in trailing quarter.