Mukesh Ambani-led Reliance Industries (RIL) posted a Rs 13,806 crore consolidated net profit for the first quarter of financial year 2021-22 up a marginal 4.2 per cent over the Rs 13,248 crore it earned in the corresponding quarter the previous year.
Total income during the period under review stood at Rs 1,48,591 crore, up 55 per cent over the Rs 95,626 crore reported in the same quarter of FY21.
RIL said that the outbreak of the coronavirus (Covid-19) pandemic globally and in India has significantly slowed down economic. “The group's operations and revenue were impacted due to Covid-19. During the current quarter, there is no significant impact other than in retail segment,” the company said.
Segment wise, significant improvement was reported by the oil-to-chemicals and digital services businesses. A company presentation said RIL had good traction in subscriber addition and data usage.
“In our O2C business, we generated strong earnings through our integrated portfolio and superior product placement capabilities. Along with our partner BP, we commissioned the satellite cluster in KG-D6 and continued to ramp up production, contributing to 20 per cent of gas production in India,” Chairman and Managing Director Mukesh Ambani said.
On the group's telecom vertical, RIL said that Jio’s total data traffic was 20.3 billion GB during the quarter (38.5 per cent growth YoY). Total voice traffic was 1.06 trillion minutes during the quarter (19.5 per cent growth YoY).
“Average Revenue Per User (from Jio) for Q1FY22 was Rs 138.4, with improved subscriber mix and better seasonality being offset by Covid impact,” RIL said.
On the retail front, RIL said the focus on scaling up digital commerce and merchant partnerships helped partially alleviate the loss of business due to store closures. These streams contributed a sizable 20 per cent of retail sales in the quarter.
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