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Key takeaways from RIL Q2 results: All-round performance drives earnings

Updated : October 30, 2020 09:46 PM IST

Key takeaways from Reliance's quarterly results.

Reliance Industries beat street estimates to post a quarterly consolidated net profit of Rs 9,567 crore on revenues of Rs 1.1 lakh crore.

Here are the key takeaways from the company's quarterly results.

- Petchem operational performance witnessed a robust sequential jump as the segment's EBIT rose 44.3 percent to Rs 4,895 crore from Rs 3,392 crore and EBIT margin expanded by 300 bps to 16.5 percent. Petchem revenue rose 17.7 percent to Rs 29,665 crore.

- Jio's net profit rose 12.9 percent to Rs 2,844 crore from Rs 2,520 crore while revenue reported a growth of 5.6 percent to Rs 17,481 crore from Rs 16,557 crore when compared quarterly. India's largest operator now has a customer base of 405.6 million subscribers, after it added 7.3 million in the reported quarter. Jio is now the only operator in the world outside on China to have more than 400 million subscribers.

- The company's retail business reported a 4.9 percent decline in its revenue at Rs 39,199 crore in the July-September quarter, from Rs 41,223 crore in the year-ago period. Retail revenues were affected as COVID-related disruptions continued to affect business even as the company said things were now getting back to normal.

- "We delivered strong overall operational and financial performance compared to the previous quarter with recovery in petrochemicals and retail segment and sustained growth in digital services business," Reliance Chairman and MD Mukesh Ambani said. "Domestic demand has sharply recovered across our O2C business and is now near the pre-Covid level for most products. Retail business activity has normalised with strong growth in key consumption baskets as lockdowns ease across the country."

- During the quarter, the company raised Rs 1.52 lakh crore as investments in Jio Platforms and Rs 37,710 crore in the retail business.

- "The company supported job creation in the economy during the pandemic-impacted period and generated in excess of 30,000 new jobs during April-September 2020 in consumer businesses and last-mile delivery," he said.

Key takeaways from RIL Q2 results: All-round performance drives earnings

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