Reliance Q1 results HIGHLIGHTS: RIL net profit up 46% to Rs 17955 cr; all-time high revenue growth for O2C biz

Reliance Industries Q1FY23 results HIGHLIGHTS: Mukesh Ambani’s Reliance Industries reported 46 per cent on-year jump in net profit to Rs 17955 crore

Reliance Q1 results HIGHLIGHTS: RIL net profit up 46% to Rs 17955 cr; all-time high revenue growth for O2C biz
Mukesh Ambani's Reliance Jio posted a net profit of Rs 4,335 crore for the April-June quarter of the current financial yearImage: Reuters

RIL Q1FY23 results HIGHLIGHTS: Mukesh Ambani’s Reliance Industries reported 46 per cent on-year jump in net profit to Rs 17955 crore, missing estimates. Most analysts expected Reliance Industries to double its net profit. Last year in the April-June quarter, RIL had reported a net profit of 12,272 crore. RIL’s April-June revenue came in at Rs 2,23,113 crore, up 54.5% from a year ago. The company’s consolidated EBITDA came in at Rs 40,179 crore, up 45.8% on-year. The company posted highest ever quarterly revenue for O2C business in a volatile environment at Rs 1.61 lakh crore. RIL’s Mukesh Ambani said that despite significant challenges posed by the tight crude markets and higher energy and freight costs, O2C business has delivered its best performance ever. The business delivered its best-ever quarterly performance with all-time-high revenue and EBITDA. Ahead of RIL results, Reliance Jio posted a net profit of Rs 4,335 crore for the April-June quarter of the current financial year, rising 23 per cent from a year ago. 

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20:37 (IST) 22 Jul 2022
Reliance Q1 net profit jumps 46% on-yr to Rs 17995 crore, falls short of 100% growth estimate; revenue up 54%

Mukesh Ambani’s Reliance Industries on Friday reported its fiscal first quarter consolidated net profit jumped 46% on-year to Rs 17,955 crore, falling way short of street estimates. RIL’s April-June revenue was at Rs 2,23,113 crore, up 54.5% from a year ago. Analysts had expected RIL to at least double its net profit from the year-ago period to about Rs 24,000 crore. Last year in the corresponding quarter, RIL had reported a net profit of about 12,300 crore. Company’s consolidated EBITDA came in at Rs 40,179 crore, up 45.8% on-year. Read full story

20:34 (IST) 22 Jul 2022
RIL retains domestic credit ratings of CRISIL AAA/Stable

RIL retained its domestic credit ratings of “CRISIL AAA/Stable” from CRISIL and “IND AAA/Stable” from India Ratings and an investment grade rating for its international debt from Moody’s as “Baa2” and “BBB+” from S&P.

20:33 (IST) 22 Jul 2022
KGD6 Gas production during 1Q FY23 at 40.6 BCF

KGD6 Gas production during 1Q FY23 was at 40.6 BCF (RIL’s share) vis-à-vis 33.1 BCF (RIL’s Share) in 1Q FY22. Average gas price realized for KGD6 was at $9.72/MMBTU in 1Q FY23 vs $ 3.62/MMBTU in 1Q FY22

20:32 (IST) 22 Jul 2022
Reliance Industries Oil & Gas

Segment Revenues for 1Q FY23 increased by 183.0% Y-o-Y to ₹ 3,625 crore. Segment EBITDA sharply increased to ₹ 2,737 crore. This was primarily due to improved gas price realization in KG D6 and CBM, and higher production in KG D6.

20:31 (IST) 22 Jul 2022
RIL O2C biz posts lower polymer production for the Apr-Jun quarter

RIL Cracker operating rate was at 87% for 1Q FY23 on account of planned shutdown at Hazira (4Q FY22 – 99% and 1Q FY22 – 95%), which resulted in lower polymer production for the quarter.

20:26 (IST) 22 Jul 2022
RIL O2C operation

RIL maintained high utilization levels across sites and units. Total throughput (including refinery) was 19.7 MMT, marginally higher than 1Q FY22

20:25 (IST) 22 Jul 2022
RIL O2C biz delivers all-time high revenue, EBITDA

The business delivered its best-ever quarterly performance with all-time-high Revenue and EBITDA. Segment Revenues for 1Q FY23 increased by 56.7% Y-o-Y to ₹ 161,715 crore primarily on account of higher crude oil and product prices. Benchmark Brent crude average price was up 65% Y-o-Y to $ 113.9/bbl

20:24 (IST) 22 Jul 2022
Reliance Retail’s Pharma biz nearly doubles

Pharma business nearly doubled over last year on the back of stronger store performance as well as digital commerce platform.

20:23 (IST) 22 Jul 2022
JioMart Kirana orders growth rises

The growth in JioMart Kirana orders is driven by increased merchant penetration and addition of region-specific assortment in commodities. Merchant base up 4x over last year as the business focused on onboarding HoReCa and institutions in addition to Kirana merchants

20:23 (IST) 22 Jul 2022
Urban Ladder more than doubles revenue over last year

Urban Ladder has more than doubled its revenue over last year. The business strengthened its own brand portfolio with multiple new brand launches in customizable sofas ‘Create’ and recliners ‘LazeON’ and launched 2 home brands with each focusing on traditional ‘aara craft’ and contemporary designs ‘Gypsy Trunk’.

20:22 (IST) 22 Jul 2022
Reliance Jewels revenue up 3x

Reliance Jewels delivered a strong quarter with revenues up nearly 3x over last year driven by strong festive sales, wedding season and network expansion. Leveraging its design capabilities that it has built over time, the business launched 5 new collections during the quarter.

20:20 (IST) 22 Jul 2022
Reliance Retail deliver strong revenue growth of 3x

Reliance Retail consolidated its leadership position in Fashion & Lifestyle as it delivered a strong revenue growth of 3x over last year driven by regional festivities & promotions resulting in all time high average bill values and healthy conversions

20:18 (IST) 22 Jul 2022
Reliance Retail continues to strengthen capabilities through acquisitions

Reliance Retail continues to strengthen its capabilities across businesses through acquisitions and partnerships. It has signed a master franchise agreement with GAP Inc., a leading American Fashion brand, Tod’s, an Italian luxury lifestyle brand and Pret A Manger, a fresh food & organic coffee chain.

20:17 (IST) 22 Jul 2022
Reliance Retail biz posts operating EBITDA at Rs 3897 cr

The business posted an Operating EBITDA of Rs 3,897 crore ($ 493 million), up 180.4% on-yr with a 350-bps improvement in margin at 7.6% compared to 4.1% in the corresponding quarter of the previous year. This was led by higher contribution from Fashion & Lifestyle and Consumer Electronics and growing operating leverage with strong LFL growth over last year across consumption baskets.

20:15 (IST) 22 Jul 2022
Reliance Retail delivers strong performance in Q1FY23

Reliance Retail delivered a strong performance with its best-ever quarterly revenues in a macro environment that remained challenging. Gross Revenue was at ₹ 58,554 crore ($ 7.4 billion) for 1Q FY23, registering a growth of 51.9% Y-o-Y.

20:15 (IST) 22 Jul 2022
Reliance Retail biz sees 1st qtr without operating disruptions since COVID onset

Reliance Retail business witnessed its first quarter without any operating disruptions since the onset of COVID.

20:13 (IST) 22 Jul 2022
Reliance committed to invest in India’s energy security: Mukesh Ambani

Reliance is committed to invest in India’s energy security. Our New Energy business is forging partnerships with technology leaders in solar, energy storage solutions and the hydrogen eco-system. These partnerships will help us realize the vision of clean, green and affordable energy solutions for all Indians, says Mukesh Ambani

20:12 (IST) 22 Jul 2022
Mukesh Ambani says O2C biz delivers best performance ever

Geopolitical conflict has caused significant dislocation in energy markets and disrupted traditional trade flows. This along with resurgent demand has resulted in tighter fuel markets and improved product margins. Despite significant challenges posed by the tight crude markets and higher energy and freight costs, O2C business has delivered its best performance ever, Mukesh Ambani said

20:10 (IST) 22 Jul 2022
Reliance retail opens 793 stores in Apr-Jun

Total 15,866 physical stores of Reliance Retail are operational; 792 stores opened during the April-June quarter of this fiscal

20:09 (IST) 22 Jul 2022
Reliance Retail’s EBITDA at Rs 3837 cr

Reliance Retail's EBITDA for the quarter was at Rs 3,837 crore ($ 487 million), higher by 97.8%

20:08 (IST) 22 Jul 2022
Reliance Retail’s gross revenue at Rs 58,554 cr

Reliance Retail's gross revenue for the quarter was Rs 58,554 crore ($ 7.4 billion), higher by 51.9%.

20:07 (IST) 22 Jul 2022
RIL’s EPS in Apr-Jun quarter at Rs 26.5 per share

RIL's EPS for the quarter was Rs 26.5 per share, increased by 40%

20:05 (IST) 22 Jul 2022
RIL posts highest ever quarterly revenue for O2C biz, at Rs 161,715 cr

Reliance Industries' posted highest ever quarterly revenue for O2C business in a volatile environment at Rs 1.61 lakh crore

19:59 (IST) 22 Jul 2022
Reliance Industries EBITDA at Rs 40,179 crore

Mukesh Ambani's RIL consolidated EBITDA came in at Rs 40,179 crore, up 45.8% on-year.

19:56 (IST) 22 Jul 2022
Reliance Industries’ revenue at Rs 2.23 lakh cr

RIL's April-June revenue was at Rs 223,113 crore, up 54.5% from a year ago.

19:53 (IST) 22 Jul 2022
Reliance Industries posts 46% jump in Q1 profit

Mukesh Ambani’s Reliance Industries reported 46 per cent on-year jump in net profit to Rs 17955 crore

19:38 (IST) 22 Jul 2022
RIL: O2C and Retail to drive strong growth in 1QFY23, says Motilal Oswal

We expect a consolidated EBITDA of INR424b (+81% YoY/+35% QoQ), fueled by growth in O2C, Jio and Retail segments. We project an EBITDA of INR255b (+123% YoY/+75% QoQ) for the O2C segment, and INR41b (+112% YoY/+11% QoQ) for the Retail segment.

19:34 (IST) 22 Jul 2022
Key triggers to RIL’s future price performance

Steady cash flow in O2C segment is expected to continue amid favourable global scenario and will enable RIL to invest in new energy verticals. ICICI Direct

19:22 (IST) 22 Jul 2022
RIL share price gains 4% YTD; 19% in 1-year

On a year to date basis, RIL stock price has gained 4.12 per cent, and 19 per cent in the last one year.

19:00 (IST) 22 Jul 2022
HDFC Securities expects strong quarterly results for Reliance Industries

In the upcoming quarterly results, the domestic brokerage firm expects Reliance Industries to report EBITDA of Rs 40,100 crore (+71% YoY; +28% QoQ), driven by all-time high refining margins, higher oil and gas price realisations, and continued growth in the retail business. “Consolidated PAT is estimated at INR 22,900 crore (+87% YoY, +41% QoQ). Petchem segment is likely to remain a drag,” HDFC Securities added.

18:49 (IST) 22 Jul 2022
Reliance Jio’s revenue from operations at Rs 21,873 crore

Jio’s revenue from operations was at Rs 21,873 crore, coupled with other income of Rs 82 crore the firm reported a revenue of Rs 21,955 crore. This was up 21.9% from the year-ago period when the company reported a total income of Rs 18,008 crore.

18:47 (IST) 22 Jul 2022
What should Reliance Industries investors do?

Analysts at ICICI Direct Research said that the long term prospects and dominant standing of RIL in each of its product, and service portfolio, provide comfort for long term value creation. RIL’s consumer business will be the growth driver, going ahead. The company has a strong balance sheet while its traditional business will continue to generate steady cash flows amid a favourable global scenario. “We maintain our BUY rating on the stock,” it added.

18:44 (IST) 22 Jul 2022
Reliance Industries Q1 net profit, EBITDA projections

ICICI Direct– EBITDA: Rs 47,108 crore; Net profit: Rs 27,909 crore

Emkay Global– EBITDA: Rs 42,166 crore; Net profit: Rs 25,504 crore

Yes Securities– EBITDA: Rs 44,318 crore; Net profit: Rs 28,891 crore

Motilal Oswal– EBITDA: Rs 42,400 crore; Net profit: Rs 24,400 crore

JM Financial– EBITDA: Rs 41,796 crore; Net profit: Rs 22,494 crore

18:41 (IST) 22 Jul 2022
Reliance share price jumps 0.6% ahead of Q1FY23 results

Reliance Industries (RIL) share price ended 0.6% up at Rs 2,502.90 apiece on BSE ahead of its fiscal first-quarter results.

18:36 (IST) 22 Jul 2022
Reliance Industries Q1 results preview: Net profit to rise, helped by better refining margins, Jio, Retail

Mukesh Ambani’s Reliance Industries ltd (RIL) is expected to have continued its robust growth in the April-June quarter, this time helped by stronger refining profitability, better telecom ARPU, and growth in the retail segment. Domestic brokerage firms across Dalal Street have pinned net profit targets for the conglomerate in the range of Rs 23000-27909 crore, which would see RIL at least double its profits from the year-ago period. Reliance Industries will announce its fiscal first-quarter results on Friday, July 22. Read full story

18:35 (IST) 22 Jul 2022
Reliance Jio Q1 net profit at 4,335 crore, up 23% on-year; misses expectations

Reliance Jio today reported a net profit of Rs 4,335 crore for the April-June quarter of the current financial year, rising 23% from a year ago, but missing street estimates. The telecom and operator’s standalone revenue for the quarter under review stood at Rs 21,955 crore. Analysts had expected the telco to post a net profit of around Rs 4,500 crore, aided by strong subscriber addition and growth in Average Revenue Per User (APRU). Read full story

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