RIL Q2FY23 PAT flat at Rs13,656 crore as windfall taxes and lower GRMs hurt

22 Oct 2022 , 11:22 AM

Reliance Industries Ltd reported 33.75% growth in total sales revenues for the September 2022 quarter on consolidated basis at Rs232,863cr. Revenue growth was 4.37% in sequential terms.

In terms of top line growth, the O2C segment grew by 32.5% yoy at Rs159,671 crore. The retail business saw  42.9% growth at Rs64,936 crore while the digital services business grew at a more sedate rate of 21.3% at Rs29,558 crore.

Total exports at Rs86,832 crore in the quarter were up 57% yoy. The special additional excise duty impacted profits of the O2C business by nearly Rs4,039 crore in the quarter.

Jio has already announced the launch of the Beta trials of its 5G across key cities, with launch on Diwali.

Consolidated Profit after tax (PAT) for September 2022 quarter was flat at Rs13,656cr on the back of windfall taxes and lower GRMs in the quarter.

Consolidated EBITDA at Rs34,663 crore for the quarter helped by 51% growth in Reliance Retail EBITDA and 29.2% growth in digital business EBITDA. For the first time in  history, the EBITDA of digital business at Rs12,011 crore is more than the EBITDA of the Oil to Chemicals business of RIL.

Cash profits were higher yoy by 15.4%. PAT margins were lower at 5.86% in the Sep-22 quarter compared to 7.86% in the Sep-21 quarter and compared to 8.05% in June 2022 quarter. ARPU of the Reliance telecom business stood at Rs177.20 for the quarter.

Financial highlights for Sep-22 compared yoy and sequentially

	Reliance Industries
Rs in Crore	Sep-22	Sep-21	YOY	Jun-22	QOQ
Total Income (Rs cr)	₹ 2,32,863	₹ 1,74,104	33.75%	₹ 2,23,113	4.37%
Operating Profit (Rs cr)	₹ 33,336	₹ 27,865	19.63%	₹ 39,562	-15.74%
Net Profit (Rs cr)	₹ 13,656	₹ 13,680	-0.18%	₹ 17,955	-23.94%
Diluted EPS (Rs)	₹ 20.18	₹ 20.60		₹ 26.54
OPM	14.32%	16.00%		17.73%
Net Margins	5.86%	7.86%		8.05%