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Here Is The 3rd Quarter Report For Reliance Industries Limited

Pritish raj by Pritish raj
January 20, 2020
in News, Industries
Reading Time: 2 mins read
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  • RIL posted a 13.5 percent increase in quarterly net profit, driven by good consumer-facing business performance and solid refining margins.

RIL posted a 13.5 percent increase in quarterly net profit, driven by good consumer-facing business performance and solid refining margins, which compensated for a drop in revenue from its petrochemical sector, a major contributor to the revenue of the conglomerate.

The company also said it was sticking to its target of net debt-free by March of next year and that talks on the proposed acquisition of equity in RIL’s oil-to-chemicals (OTC) business by Saudi Aramco were progressing although the complex transaction was unlikely to be completed in the current fiscal year.

Consolidated net profit for the quarter of December grew to a record Rs 11,640 crore while revenue dropped 1.4 percent to Rs 1.68,858 crore due to lower oil and chemical rates. Net profit rose 7.4 percent to Rs 9,585 crore on a standalone basis while revenue fell 13.1 percent to Rs 93,741 crore.

Reliance Jio

Reliance Jio reported a 62.5 percent year-on-year increase in net profit for the December quarter to some 1,350 crores, backed by its move from free voice calling to impose user charges for calls made to other operators.

The company’s operating revenue rose 28.3 percent y-o-y to approximately 13,968 crores, while its average revenue per user (Arpu) increased to approximately 1128.4, despite consecutive declines in the last seven quarters, following its decision to charge 6 paise per minute for calls made to rival networks. As of December-end, it had 370 million subscribers.

Arpu is the operator’s total revenue divided by its network’s number of users or connections. Jio’s Arpu steadily declined from < 154 in the quarter of December 2017 to ~120 in the quarter of September 2019.

Reliance Retail

Reliance Retail, the country’s largest retail business with a network of turnover, profits, and store, continued to maintain its strong track record of profit growth. Ebitda came in at Rs 2,727 crore for the quarter, growing 62.3 percent year-on-year (YoY) while net income margin expanded 140 basis points (bps), from 5.3 percent to 6.7 percent. Overall, gross sales in the segment stood at Rs 45,327 for the quarter, up 27.4 percent over the corresponding period of the previous year in which the combined consumer electronics, fashion & lifestyle and grocery segments delivered an accelerated 35.7 percent growth.

Reliance Retail Ltd, Reliance Industries Ltd’s retail arm, gently launched its “new trade” venture on December 30, by sending invitations to Jio Telecom users to register for the new venture— JioMart. Calling itself “Desh Ki Nayi Dukaan,” JioMart will currently cater online shoppers in the suburban Mumbai areas of Navi Mumbai, Thane, and Kalyan. The Street expects updates on how JioMart’s RIL plans to scale up.

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Pritish raj

Pritish raj

Pritish Raj is a content writer at Next Big Brand. Hailing from the diversified state of Bihar, he is an engineer by education who chooses the way of poetry, photography, and writing to kick off his career. Highly enthusiastic about brands and startups, he aims to be a travel content creator.

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