RIL Q2 Results: Profit Falls 33% QoQ; Reliance Retail, O2C, Jio Businesses Show Steady Growth

The earnings heavy day comes to an end with everyone preparing for the Diwali festivities. However, before you leave for the day here are few important points from today's Reliance Industries earnings:

• The oil-to-telecom conglomerate reported a 33% sequential fall in consolidated net profit for the quarter ended September to Rs 18,165 crore. The fall in profit followed an exceptional other income of Rs 15,119 crore in the previous quarter, which included Rs 8,924 crore from the sale of listed investments, the company said.

• The oil-to-chemicals business posted Ebitda of Rs 15,008 crore, up from Rs 14,511 crore in the preceding quarter. The increase was driven by stronger fuel cracks and improved polymer spreads, partly offset by weaker polyester margins.

• The retail business recorded Ebitda of Rs 6,817 crore, compared with Rs 6,381 crore in the June quarter. Festive demand lifted sales across grocery, fashion and consumer electronics.

• Grocery revenue grew 23% year-on-year, fashion and lifestyle rose 22%, and consumer electronics increased 18%.

Thats all folks have a good night and a good weekend.

• Reliance Industries expects LNG prices range-bound in near term

• FMCG demerger likely on Nov. 1 subject to written NCLT order

• NCLT approval for FMCG demerger has come through

(Source: Informist)

• The Fashion & Lifestyle business delivered strong growth with the onset of the festive season.

• Emerging Formats such as Yousta and Azorte registered a growth of 66% year-on-year, and Yousta reached the significant milestone of 100 stores.

• There was a pickup in ethnic wear categories during the early festive period, and smart casuals and semi-formals also performed well, strengthening the own brands play.

• AJIO delivered steady growth, led by a wider assortment, promotions, and festive buying.

• AJIO expanded its catalogue to over 2.7 million options, representing a 35% year-on-year increase, and launched several new brands on its platform.

• Compared to the platform average, the service achieved superior results, including a 16% higher Average Selling Price, 17% better conversion rates, and 500 basis points lower sales returns.

• Shein surpassed 6 million app installs, reached 11.4 million Monthly Active Users (MAU) while its portfolio expanded to more than 25,000 options.

The consumer electronics segment saw strong category performance with Laptops growing by 37%, Mobiles rising 22%, and Appliances up 10% year-on-year.

• JioMart added 5.8 million new customers. This represented a quarter-on-quarter growth rate of 120%.

• JioMart continued to expand Quick Hyper-Local deliveries, registering 42% quarter-on-quarter growth and over 200% year-on-year growth in average daily orders.

• The platform's seller base grew 20% year-on-year, and the live catalogue selection was further expanded to augment the customer choice.