HomeLifestyleRIL Q1 Results: Profits up 46.3% year-on-year to ₹17,955 crore, earnings also...

RIL Q1 Results: Profits up 46.3% year-on-year to ₹17,955 crore, earnings also increased

New Delhi. Reliance Industries Limited i.e. RIL on Friday announced the financial results for the first quarter of the current financial year (2022-23). The company’s consolidated profit stood at Rs 17,955 crore in the first quarter ended June 30, 2022 from Rs 16,203 crore in the fourth quarter of FY 2021-22. If we look at the yearly basis, the company’s profit has increased by 46.3 percent.

Consolidated income of the company stood at Rs 2.19 lakh crore
The company’s consolidated income stood at Rs 2.19 lakh crore in the first quarter ended June 30, 2022 as compared to Rs 2.07 lakh crore in the fourth quarter of FY 2021-22. The company’s income has seen a growth of 54.5 percent on a yearly basis.

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On a quarter-on-quarter basis, Reliance Industries’ consolidated EBITDA (EBITDA) for the first quarter increased from Rs 31,366 crore to Rs 37,997 crore, while the EBITDA margin increased from 15.1 per cent to 17.3 per cent on a quarterly basis.

Oil-to-chemical business results
Income from the company’s oil-to-chemical (O2C) business stood at Rs 1.61 lakh crore in the first quarter as against Rs 1.45 lakh crore in the fourth quarter of FY 2021-22. During this period, the EBITDA of O2C business increased from Rs 12,386 crore to Rs 18,016 crore on a quarterly basis.

Oil and gas business results
On a quarter-on-quarter basis, the company’s oil and gas business grew from Rs 2,008 crore to Rs 3,625 crore in the first quarter. Similarly, EBITDA of Oil and Gas business has increased from Rs 946 crore to Rs 2,089 crore on a quarterly basis.

Managed to maintain competitive pricing: Mukesh Ambani
Speaking on the results, the company’s chairman and managing director Mukesh Ambani said that the energy market has been affected by the Jio political crisis. Traditional trade flow has been affected by this crisis. The company’s O2C business has performed well so far. We have been able to maintain competitive pricing even in challenging situations.

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Strong supply chain infra helped the company
CMD Mukesh Ambani said that the company has been helped by strong supply chain infra in the current challenging environment. The number of customers on the company’s digital platform has also increased in the first quarter. There has been a strong growth in the number of customers on our digital service platform. Reliance Jio is working towards increasing data availability. We are seeing an increase in mobility and fiber to the home (FTTH) subscriber additions.

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Tags: Reliance, RIL

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