RIL Q1 net profit rises 40.8% to ₹19,443 crore
The Hindu
Consolidated gross revenue grows 53% to ₹2,42,982 crore
Reliance Industries Ltd.’s first-quarter consolidated net profit for the June ended quarter grew 40.8% to ₹19,443 crore on robust performance of its businesses.
Consolidated gross revenue grew 53% to ₹2,42,982 crore. Consolidated EBITDA at ₹40,179 crore grew 45.8% YoY.
Jio Platforms reported a net profit of ₹4,530 crore, up 24.1%, its EBITDA grew 28.5% to ₹11,424 crore.
ARPU [average revenue per unit] during the quarter of ₹175.7 per month saw a healthy 26.9% growth YoY basis driven by residual impact of tariff hike and contribution from FTTH [Fiber to the home]. Its total customer base as on June 30 grew to 419.9 million, RIL said in a filing.
Reliance Retail reported net profit of ₹2,061 crore, up 114.2%. Gross revenue stood at ₹58,554 crore up 51.9%. EBITDA was higher by 97.7% at ₹3,837 crore.
The unit of RIL said it witnessed its first quarter without any operating disruptions since the onset of COVID and footfalls surpassed pre-COVID levels as consumers returned to stores.
Reliance Retail’s registered customer base stood at 208 million at the end of the quarter, up 29% YoY, RIL said adding its arm opened 720 stores in the quarter, taking the total count to 15,916 stores with an area of 43.2 million sq. ft.
According to BACL, the biophilic-inspired business park will offer smart workspaces within a vibrant public realm. The project’s most exceptional and breathtaking attribute lies in the Urban Forest, a lush oasis in the centre of the development. This green space will serve as a focal point, seamlessly blending indoor and outdoor spaces throughout the area. The upcoming metro station in Airport City will provide seamless connectivity to the business park from the northern side, ensuring convenient accessibility.