Reliance Industries Ltd.'s profit surged 23% to Rs 20,946 crore, according to its notification to the exchanges. The analysts had pegged the bottom line at Rs 20,451 crore.
Revenue for the three months ended June meets analysts estimates. The company's consolidated top line rose 5% quarter-on-quarter to Rs 3.09 lakh crore. Analysts consensus forecast stood at Rs 3.01 lakh crore. The oil-to-telecom conglomerate reported an operating margin of 15.4%, expanding 40 basis points from the preceding quarter, according to its notification to the exchanges on Friday.
Reliance Industries Q1 Result Highlights (QoQ)
- Revenue up 5% to Rs 3.09 lakh crore versus Rs 2.94 lakh crore. (Estimate: Rs 3.01 lakh crore)
- Ebitda up 8% to Rs 47,517 crore versus Rs 44,141 crore. (Estimate: Rs 46,367 crore)
- Margin expand to 15.4% versus 15% (Estimate: 15.4%).
- Profit up 23% to Rs 20,946 crore versus Rs 16,971 crore. (Estimate: Rs 20,451 crore).
The O2C business emerged as the key growth driver. Segment revenue increased 9% sequentially to Rs 2.02 lakh crore from Rs 1.85 lakh crore, while Ebitda surged 17% to Rs 17,010 crore from Rs 14,520 crore. EBITDA margin expanded to 8.43% from 7.85%, supported by stronger refining and petrochemical margins.
ALSO READ: Reliance Industries Promoters Raise Stake To 50% After Rs 9,000 Crore Creeping Acquisition
The oil and gas business also delivered a strong performance. Revenue rose 7% quarter-on-quarter to Rs 6,298 crore from Rs 5,867 crore, while Ebitda climbed 19% to Rs 4,873 crore from Rs 4,195 crore. The segment's Ebitda margin expanded sharply to 78.96% from 71.50%.
The retail business, however, remained under pressure during the quarter. Revenue declined 8% sequentially to Rs 90,409 crore from Rs 98,457 crore, while Ebitda fell 9% to Rs 6,309 crore from Rs 6,921 crore. Margin also slipped marginally to 6.98% from 7.03%.
Reliance Jio reported an average revenue per user (ARPU) of Rs 215.60 during the quarter, marginally below the Bloomberg estimate of Rs 216. Subscriber additions remained steady, with the telecom operator ending the quarter with 53.3 crore subscribers, in line with analysts' expectations.
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.
