RIL Q2 results Highlights | Consolidated revenue rises 34% to Rs 2.33 lakh crore, EBITDA up 14.5% YoY

The LIVE blog session has concluded. For more news, views and updates, stay tuned withMoneycontrol.com.

RIL Q2 highlights | Firm reports record performance in consumer businesses

1) Profit

Reliance registered a 0.2 percent year-on-year growth in consolidated profit at Rs 15,512 crore for the quarter ended September FY23, with cash profit growing 15.4 percent to Rs 27,614 crore for the same period.

Its other income during the quarter fell by 16.8 percent to Rs 3,514 crore YoY.

2) Revenue

The gross revenue for the quarter at Rs 2.53 lakh crore was higher by 32.4 percent compared to year-ago period, while revenue from operations increased by 33.7 percent to Rs 2.32 lakh crore.

3) Jio Platforms

Jio Platforms, which owns Jio, recorded a 26.9 percent year-on-year growth in profit at Rs 4,729 crore for the quarter ended September FY23, backed by strong topline and operating performance.

Revenue from operations for the quarter at Rs 24,275 crore for the quarter increased by 22.7 percent year-on-year aided by increase in average revenue per user (ARPU).

4) Reliance Retail

Reliance Retail delivered record revenue and profits during the quarter led by broad-based growth across all consumer baskets, with revenue growing a massive 44.5 percent year-on-year to Rs 57,694 crore and profit increasing 36 percent YoY to Rs 2,305 crore.

5) Oil To Chemicals

The oil to chemicals (O2C) business reported a 32.5 percent year-on-year growth in revenue at Rs 1.59 lakh crore, primarily on account of higher crude oil prices.

6) Oil & Gas

"Domestic oil & gas business continued to deliver robust performance maintaining production at 19 MMSCMD levels in the KG D6 block, significantly enhancing energy security for the country. We are confident of commissioning MJ Fields by year-end," Mukesh Ambani said.

The oil & gas segment clocked a 134.4 percent YoY growth in revenue at Rs 3,853 crore led by higher production and improved gas price realization.

KG-D6 gas production during the quarter was at 41 BCF (RIL's share) against 39.2 BCF (billions of cubic feet) production in Q2FY22.

7) Exports

Exports (including deemed exports) from RIL's India operations increased by 57.5 percent to Rs 86,382 crore compared to year-ago period, mainly due to higher price realizations despite lower downstream product volumes.

Read full report here

Windfall gains tax left Rs 4,000-crore hole in RIL’s Q2 earnings

-The special additional excise duty imposed by the government in July left a dent in the earnings of India’s largest private sector refiner Reliance Industries.

-RIL’s oil-to-chemical business reported a 5.9 percent year-on-year decline in operating profit to Rs 11,968 crore in the quarter ended September 30, 2022.

-“Segment performance was also impacted by the introduction of special additional excise duties during the quarter to ensure stable supply and lower volatility in the domestic market,” Mukesh Ambani, chairman and managing director at Reliance Industries said in a press statement.

Read full report here

RIL to restructure group EPC resources

-Reliance Industries on October 21 said that its board hadapproved a scheme of arrangement under which the EPC and Infrastructure Undertaking of Reliance Projects and Property Management Services Limited, a wholly-owned subsidiary of RIL is proposed to be demerged into RIL.

-This demerger, together with the existing EPC team in RIL, creates a focused EPC undertaking in RIL to cater to the needs of the group.

Reliance launches Android-powered budget laptop JioBook: Details here

-Diwali bonanza! Jio Platforms on October 21 launched its first Android-powered laptop – the JioBook – making its foray into another product category. The product was first unveiled by Reliance Jio at the Indian Mobile Congress trade show.

=The made-in-India JioBook runs on JioOs and comes bundled with multiple Jio apps along with Microsoft 365 services and local language support. It has 2GB RAM and 32GB eMMC storage that is expandable up to 128 GB

Click here for more details

RIL Q2 results LIVE | Media update

-The media and broadcasting business reported a 11.7 percent year-on-year growth in revenues to Rs 1,549 crore during the reported quarter.

-The segment's operating profit plummeted 87.4 percent on-year to Rs 32 crore while operatig margins shrank to 2.1 percent from 18.2 percent a year-ago.

- RIL said that the business faced adversityies from a challenging advertising environment, flat subscription revenue and advertisement revenue loss from removal of Hindi GEC from DD FreeDish.

Disclaimer: Moneycontrol is a part of the Network18 group. Network18 is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.

Jio Financial Services (JFSL) would be listed on the Indian stock exchanges

RIL to demerge financial services undertaking and list Jio Financial Services

-Reliance Industries on October 20 announced that it will demerge financial services undertaking and list Jio Financial Services

-Shareholders to get one equity share of JFS for one equity share held in RIL

-Corporate and capital structure to enable RIL shareholder participation in an exponential growth business

-JFS to build large digital fintech platform for all Indians

Reliance says KJD6-MJ field is on track to deliver 30% of India's gas production

-Phase-II Drilling & Completion campaign for Production hole drilling, Lower & Upper Completions is in progress. Offshore installation campaign has been successfully completed.

-Floating Production Storage and Offloading (FPSO) is currently at Kakinada anchorage after completion of sea-trials and commissioning of Hull and Topsides. After receiving necessary approvals and loading of materials, FPSO will move to field location for Hook-up, Offshore Testing, Pre-commissioning and Commissioning activities.

-Production from MJ field is expected to commence by end of the year. With the incremental production from MJ field, KGD6 block is expected to contribute around 30% of India’s gas production.

Jio-bp commissioned 29 new outlets in first half of FY23

-Reliance BP Mobility Limited commissioned 29 new outlets in 1H FY23. "This was despite adverse operating environment showing
strong resolve to expand fuel retail footprint."

-Jio-bp also witnessed over 490 live charging points and 80,000+ swap sessions till date alongside tender wins at over 1200 sites, including Mumbai’s BEST, CESL and DTL in Tier 1 cities.

-It also stated that it is setting up fast charging network for Mahindra dealers and supporting their launch line-up of e-SUVs.

RIL Q2 update | New hires for the half year came at 1.4 lakh

Reliance Industries exports jump 57.5% YoY to Rs 86,382 crore

Subdued demand, weak margin QoQ in chemical and transport fuels: RIL on O2C biz

Performance of our O2C business reflect subdued demand and weak margin environment across downstream chemical products. Transportation fuel margins were better than last year but significantly lower sequentially. Segment performance was also impacted by the introduction of special additional excise duties during the quarter to ensure stable supply and lower volatility in the domestic market: Mukesh Ambani

RIL Q2 Oil & Gas update: Revenue up 134% to Rs 3,853 crore

-RIL reported a 134.4 percent year-on-year surge in reveneus to Rs 3,853 crore driven by higher realisation for the natural gas the company produces in difficult-to-produce fields.

-EBITDA at Rs 3,158 crore, up ~3x YoY (higher production & better realization)

-KG D6 gas production at around 20% of India’s domestic gas production

-KG D6 MJ field to commence by year end, taking KG D6 output to ~30% of India’s gas

RIL’s debt increase due to higher working capital: Srikanth Venkatachari, Joint CFO

"RIL’s debt increase due to higher working capital given the significant dislocation in energy markets, impact of foreign currency liabilities as Rupee depreciated, payment of 1st installment for spectrum," said Srikanth Venkatachari, Joint CFO, RIL.

Reliance Retail sees best-ever revenue and profits, led by broad-based growth. Highest-ever EBITDA of Rs 4,404 crore, up 51% Y-o-Y and 15% Q-o-Q

RIL Q2 O2C Highlights

-Production meant for sales lower by 3.6% YoY at 16.2MMT

-O2C Revenue up 32% YoY to Rs 1.59 lakh crore

-Subdued demand, weak margin QoQ in chemical & transport fuels

-O2C EBITDA down 6% YoY to Rs 11, 968 crore

Jio announced launch of true 5G: Mukesh Ambani on Jio results

"We saw consistent net subscriber additions and higher engagement in Digital Services segment. Jio has announced beta trial for its industry-leading Standalone 5G services and is making rapid progress for an ambitious and the fastest ever roll out of True 5G on pan-India basis."

RIL Jio Q2 update: ARPU grows 23.5% YoY to Rs 177.2 

- Total customer base as on 30th September 2022 of 427.6 million

-Total data traffic was 28.2 billion GB during the quarter, 22.7% growth Y-o-Y

-Total voice traffic was 1.23 trillion minutes during the quarter, 12.3% growth Y-o-Y

-EBITDA at Rs 12,011 crore, higher by 29.2% Y-o-Y led by strong revenue growth and margin improvement

"Continues to provide great shopping experience": Mukesh Ambani on Reliance Retail Q2 performance

"Our Retail business delivered record performance with strong revival in footfalls, store additions and digital integration. Reliance Retail continues to provide a compelling proposition of great shopping experience and superior value across consumption baskets and price points."

Reliance Retail becomes the first Indian retailer with over 50 million sq. ft of retail space

Reliance Retail Q2: Net profit rises 36% to Rs 2,305 crore

-Gross Revenue for the quarter was Rs 64,920 crore, higher by 42.9%

-EBITDA for the quarter was Rs 4,404 crore, higher by 51.2%

-Cash Profit for the quarter was Rs 3,324 crore, higher by 45%

-Total 16,617 physical stores operational; 795 stores opened

RIL Q2 results LIVE updates: Standalone numbers

-Gross Revenue for the quarter was Rs 146,310 crore, higher by 34.5%

-EBITDA was Rs 15,322 crore, lower by 5.1%

-Net Profit was Rs 6,915 crore, lower by 25.1%

-Cash Profit for the quarter was Rs 10,688 crore, lower by 8.9%

-Exports were at Rs 86,382 crore, higher by 57.5%

RIL Q2 results LIVE updates: Consolidated numbers

-Gross Revenue for the quarter was Rs 253,497 crore, higher by 32.4%

-EBITDA for the quarter was Rs 34,663 crore, higher by 14.5%

-Cash Profit for the quarter was Rs 27,614 crore, higher by 15.4%.

-EPS for the quarter was ₹ 20.2 per share, decreased by 3.3%

RIL Q2 revenue jumps 34% to Rs 2.33 lakh crore

RIL Q2 results out: Check here

Oil-to-chemicals-to-telecom conglomerate Reliance Industries Limited (RIL) reports flat year-on-year in its consolidated net profit at Rs 13,656 crore for the quarter ended September 30, 2022. The company had reported a net profit of Rs 13,680 crore in the year-ago period.

RIL Q2 Results Live Updates 

While the quarterly numbers ofJiohave been released, the results ofRILis expected to be out shortly.The company is likely to report a 12 percent on-year increase in consolidated net profit to Rs 15,263 crore in the September quarter, according to the average of estimates by six securities firms.

Reliance Jio reports nearly 5% rise in EBITDA. Margin rises 90 bps to 51% on a sequential basis

RIL Q2 results update

- RIL had reported a consolidated net profit at Rs 17,955 crore in the previous quarter (Q1FY23), up 46.3 per cent on year-on-year basis.

- It revenue for the first quarter had jumped 54.54 per cent to Rs 2,23,113 crore from Rs 1,44,372 crore in the same quarter last year.

Reliance Jio Q2 revenue rises 20%

RIL's telco arm reported revenuerose 20 percent rise revenue from operations at Rs 22,521 crore for September quarter from Rs 18,731 crore in the same quarter last fiscal.

Reliance Jio Q2 net profit up 28% YoY and 4% QoQ

RIL stock update

Shares of Reliance Industries on Friday (October 21) closed 1.16 percent lower at Rs 2,471.95 apiece on BSE ahead of the Q2FY23 result announcements.

RIL Q2 preview:

-According to a Moneycontrol poll, RIL is likely to report a 12 percent on-year increase in consolidated net profit to Rs 15,263 crore in the September quarter, according to the average of estimates by six securities firms.

-Profit will be driven by strong consolidated revenue, which is expected to rise 34 percent on year on year to Rs 2.25 lakh crore in the quarter.

RIL Q2 results live updates

-Billionaire Mukesh Ambani-led oil-to-chemicals-to-telecom conglomerate Reliance Industries Limited (RIL) is set to declare its earnings for the second quarter ended September 30, 2022 today (October 21).

-RIL had reported a consolidated net profit at Rs 17,955 crore in the previous quarter (Q1FY23), up 46.3 per cent on year-on-year basis.