Reliance Industries Q3 net up 41.6% yoy at Rs18,549cr on strong 30% EBITDA growth led by Jio Digital

21 Jan 2022 , 10:48 PM

Reliance Industries reported 54.25% yoy growth in total revenues for the Dec-21 quarter on consolidated basis at Rs191,271cr. On a sequential basis, the revenues were up by 9.86%.

EBITDA for the quarter was up 29.86% at Rs33,886cr, implying EBITDA margins at 17.72% for the quarter. In terms of bottom line, the net profits were up 41.58% yoy at Rs18,549cr.

This implies PAT margins of 9.7%. Both operating margins are lower on a yoy basis due to a sharply higher base, but are higher on a sequential basis. Cash profits on a consolidated basis stood at Rs30,147cr.

Jio Platforms reported 13.8% higher revenues at Rs24,176cr in the quarter. EBITDA for the Jio Platforms business was up 18% at a record level of Rs.10,008cr.

Net profits on the Jio Platforms business was up 8.9% at Rs3,795cr. The company added 10.2 million customers in the quarter to take the total tally to 421 million. The ARPU for the quarter was up at Rs151.60.

Data traffic grew by 47.8% at 23.4 billion GB. EBITDA margins of the Jio Platforms business stood at a healthy 48.6%.

Reliance Retail reported 52.5% higher revenues at Rs57,714cr in the quarter. EBITDA for the Reliance Retail business was up 52.3% at a record level of Rs.3,522cr. Net profits on the Reliance Retail business was up 23.4% at Rs2,259cr. The company added 837 stores in the quarter to take the total store count to 14,412 stores spread across 2.3 million SFT.

Reliance Retail invested $200 million in Dunzo in the quarter to ensure rapid delivery. There was growth across consumer electronics, fashion, lifestyle and grocery store products. EBITDA margin stood at 7% for the quarter.

Reliance Oil to Chemicals (O2C) reported 56.8% higher revenues at Rs131,427cr in the quarter. EBITDA for the Reliance Oil to Chemicals (O2C) business was up 38.7% at a record level of Rs.13,530cr. The total throughput including refinery through put stood at 19.7MMT compared to 18.2 MMT last year same quarter.  

EBITDA margins of the Reliance Oil to Chemicals (O2C) business declined by 130 bps at 10.3%. Cracker rates for cracker, PP and PE was stable at 86%, 89% and 87% in the quarter. The Singapore benchmark GRMs were closer to $12.6/bbl up nearly 3-fold over last year.

 
 
Financial highlights for Dec-21 compared yoy and sequentially

	Reliance Industries
Rs in Crore	Dec-21	Dec-20	YOY	Sep-21	QOQ
Total Income (Rs cr)	₹ 1,91,271	₹ 1,23,997	54.25%	₹ 1,74,104	9.86%
EBITDA (Rs cr)	₹ 33,886	₹ 26,094	29.86%	₹ 30,283	11.90%
Net Profit (Rs cr)	₹ 18,549	₹ 13,101	41.58%	₹ 13,680	35.59%
Diluted EPS (Rs)	₹ 27.76	₹ 19.93		₹ 20.60
EBITDA Margin	17.72%	21.04%		17.39%
Net Margins	9.70%	10.57%		7.86%