Reliance Industries Announces Q2 Results, Reports Revenues Higher by 27.2%

Reliance Industries has announced its financial results for the quarter two that ended on 30 September 2020. The company has declared a strong sequential rebound across all businesses. While the consolidated quarterly revenue was higher by 27.2% at Rs 128,385 crore, the consolidated quarterly EBITDA grew by 7.9% to Rs 23,299 crore. Also, over 30,000 employees were added to the workforce.

“We delivered strong overall operational and financial performance compared to previous quarter with recovery in petrochemicals and retail segment, and sustained growth in Digital Services business. Domestic demand has sharply recovered across our O2C business and is now near pre-Covid level for most products. Retail business activity has normalised with strong growth in key consumption baskets as lockdowns ease across the country. With large capital raise in last six months across Jio and Retail business, we have welcomed several strategic and financial investors into Reliance family. We continue to pursue growth initiatives in each of our businesses with a focus on the India opportunity,” said Mukesh D Ambani, chairman and managing director, Reliance Industries Limited.

Highlights of the Reliance Industries Results

Consolidated RIL:

• Revenue for the quarter was Rs 128,385 crore ($ 17.4 billion) higher by 27.2%
• EBITDA before exceptional item for the quarter was Rs 23,299 crore ($ 3.2 billion) higher by 7.9%
• Net Profit before exceptional item for the quarter was Rs 10,602 crore ($ 1.4 billion) higher by 28.0%
• Cash Profit before exceptional item was Rs 16,837 crore ($ 2.3 billion) higher by 20.9%
• EPS before exceptional item was Rs 14.8 per share, increased 14.9%

Consolidated Jio Platforms Limited:

• Revenue including access revenues for the quarter was Rs 21,708 crore ($ 2.9 billion) higher by 7.1%
• EBITDA for the quarter was Rs 7,971 crore ($ 1.1 billion) increase of 8.7 %
• Net profit for the quarter was Rs 3,020 crore ($ 409 million) growth of 19.8%
• Total Customer base as on 30 September 2020 of 405.6 million, growth of 1.8%
• ARPU during the quarter of Rs 145.0 per subscriber per month as against Rs 140.3 per subscriber per month in the trailing quarter
• Total wireless data traffic during the quarter of 1,442 crore GB;1.5% growth

Consolidated Reliance Retail:

• Revenue for the quarter was Rs 41,100 crore ($ 5.6 billion) higher by 30.0%
• EBITDA for the quarter was Rs 2,006 crore ($ 272 million) higher by 85.9%
• Net profit for the quarter was Rs 973 crore ($ 132 million) higher by 125.8%
• Cash Profit for the quarter was Rs 1,408 crore ($ 191 million) higher by 77.3%
• 11,931 operational physical stores; net addition of 125 stores during the quarter