Reliance Q3 Results: Net Profit Zooms 41.5% To Rs 18,549 Cr, Revenue Grows To Rs 1.91 Lakh Cr

Reliance Industries on Friday reported a 41.5 per cent jump in its third quarter net profit as oil, retail and telecom businesses performed well on all parameters.

New Delhi: Mukesh Ambani-led Reliance Industries on Friday posted a consolidated net profit of Rs 18,549 crore for the quarter ended 31 December, 2021 (Q3FY22) compared with Rs 13,101 crore a year back, the company said in a stock exchange filing.

According to reports, this is a 41.5 per cent jump in its third quarter net profit compared to same quarter of the previous year. 

The telecom major's income from operations also rose 54 per cent to Rs 1.91 lakh crore from Rs 1.28 lakh crore in the same period last year.

“I am happy to announce that Reliance has posted best-ever quarterly performance in 3Q FY22 with strong contribution from all our businesses. Both our consumer businesses, Retail and Digital services have recorded highest ever revenues and EBITDA. During this quarter, we continued to focus on strategic investments and partnerships across our businesses to drive future growth," Mukesh Ambani, Chairman and Managing Director, Reliance Industries said.

The oil-retail-telecom conglomerate also reported an EBITDA (earnings before interest, tax, depreciation and amortisation) at Rs 33,886 crore during the reporting quarter, higher by 30%.

Additionally, company's telecom arm Reliance Jio's net profit rose 10 per cent year-on-year to Rs 3,615 crore for the December quarter. It was Rs 3,291 crore in the last year period.

Reliance Industrial Infrastructure Ltd (RIIL) reported a rise of 2.2 per cent in its standalone net profit for the third quarter.

Meanwhile, Reliance Retail, company's retail arm, reported 52 per cent jump in consolidated gross revenue to Rs 57,714 crore for the reporting quarter.

Responding to the figures, Elelweiss Wealth Research said that Reliance results are better than estimates. "However until Retail issue resolved ( Future - Amazon dispute) stock will remain range bound. Otherwise, all businesses are doing extremely well e.g. Global Refinery cycle has revived, Telecom industry is showing consistent improvement in ARPU and Retail scaling up well," said the brokerage firm in note to its clients.