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Reliance Results Highlights: Net profit jumps 11% boosted by growth across segments — Jio average revenue per user rises over 4%

Reliance Results Highlights: Net profit jumps 11% boosted by growth across segments — Jio average revenue per user rises over 4%

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Summary

Reliance Results Highlights: Oil-to-telecom conglomerate Reliance Industries on Friday reported a 10.8 percent sequential rise in net profit to Rs 17,955 crore for the April-June period, driven by growth across segments. Reliance said its oil-to-chemicals (O2C) business clocked a record quarterly revenue in a volatile environment, and its digital arm — Reliance Jio Infocomm — saw an increased in average revenue per user (ARPU) on account of customer engagement and mix. Earlier in the day, Indian equity benchmarks clocked three-month closing highs, continuing to rise for the sixth session in a row, led by financial, oil & gas, FMCG and auto shares.

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Jul 22, 2022 9:58 PM

Reliance Retail Q1 profit zooms more than doubles to Rs 2,061 crore

Reliance Retail Ventures — the retail arm of Reliance Industries — reports a 114.2 percent year-on-year jump in net profit to Rs 2,061 crore for the quarter ended June. Its gross revenue stands at Rs 58,554 crore for the three-month period, up 51.9 percent on year, according to a regulatory filing. (Read more)

Disclaimer: Network18, the parent company of CNBCTV18.com, is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.

 
Jul 22, 2022 9:56 PM

O2C business saw sustained demand growth across products: Reliance Industries

Revenue from the oil-to-chemicals unit — which accounted for almost 57 percent of its total revenue in the year ended March 2022 — jumps 11 percent sequentially to Rs 1.61 lakh crore, according to a regulatory filing. 

Disclaimer: Network18, the parent company of CNBCTV18.com, is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.

Jul 22, 2022 9:53 PM

Reliance Industries net profit rises 11% and margin jumps by 220 basis points — oil-to-chemicals revenue hits record high

Reliance Industries reports a net profit of Rs 17,955 crore for the April-June period, up 10.8 percent compared with the previous three months, boosted by growth across segments. The conglomerate's oil-to-chemicals (O2C) business clocks a record quarterly revenue in a volatile environment.

The company's consolidated revenue comes in at Rs 2.19 lakh crore for the three months to June, as against Rs 2.07 lakh crore for the previous quarter. (Read more)

O2C business saw sustained demand growth across products: Reliance Industries

Revenue from the oil-to-chemicals unit — which accounted for almost 57 percent of its total revenue in the year ended March 2022 — jumps 11 percent sequentially to Rs 1.61 lakh crore, according to a regulatory filing. 

Disclaimer: Network18, the parent company of CNBCTV18.com, is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.

Jul 22, 2022 9:52 PM

Reliance shares rise over 4% for the week

Jul 22, 2022 8:43 PM

Reliance is the first Indian company to cross $100 billion in revenue in a year

Earlier this year, Reliance became the first Indian company to clock a gross revenue of more than $100 billion in a financial year.

Disclaimer: Network18, the parent company of CNBCTV18.com, is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.

Jul 22, 2022 7:03 PM

Reliance Industries likely to clock 50% jump in quarterly profit powered by oil-to-chemicals unit

Reliance Industries will report its financial results shortly. The Street expects the oil-to-telecom conglomerate to clock a strong performance in the April-June period driven by sustained growth in its oil-to-chemicals (O2C) business, which scaled a record high in revenue in the year ended March 2022.

A key thing to watch out for in Reliance's quarterly numbers will be the performance of its O2C unit, which accounted for almost 57 percent of its total revenue in the year ended March 2022.

Analysts in a CNBC-TV18 poll expect Reliance Industries to report a 50.3 percent increase in consolidated net profit to Rs 24,357 crore for the April-June period compared with the previous three months. (Read more on what to expect from Reliance results)

Disclaimer: Network18, the parent company of CNBCTV18.com, is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.

Jul 22, 2022 6:57 PM

Reliance Jio profit rises nearly 4% sequentially to Rs 4,335 crore in Apr-June

Reliance Jio's revenue came in at Rs 21,873 crore for the quarter ended June, as against Rs 20,901 crore for the previous three months, accoording to a regulatory filing.

Jul 22, 2022 5:22 PM

Prefer largecap IT to midcap: Shibani Sircar Kurian

Shibani Sircar Kurian, Senior Executive Vice President and Head-Equity Research at Kotak Mahindra AMC, prefers largecap IT companies to their midcap counterparts. "We have been cautious on IT over the last couple of months, with one of the primary reasons being valuations. Secondly, where IT is concerned, if you look at the margin side, margin headwinds have been there for the last few quarters because of supply-side constraints. If you look at the quarterly earnings, margins have seen even more pressure than what was earlier anticipated and therefore, while it is possible that margin trajectory could possibly be bottoming out at this point in time, an improvement in margins will take some time," he tells CNBC-TV18. 

"The other key factor as far as midcap IT is concerned is client concentration. Largecaps midcap see far more client concentration and hence the risk there in terms of a slowdown is larger. Finally valuations, yes, they have corrected but valuations in midcap IT are still higher than their long-term averages," he adds. 

Jul 22, 2022 4:53 PM

Rupee edges higher to end at 79.86 vs US dollar

Jul 22, 2022 4:13 PM

Market At Close | Sensex and Nifty50 continue to rise for 6th straight day

Here are some highlights:

--Sensex and Nifty50 at nearly 3-month closing highs

--Financial stocks among top gainers 

--UltraTech reports better-than-expected earnings — stock rises five percent

--Cement shares jump — Grasim, India Cements rise over three percent

--ICICI Bank and Kotak Mahindra Bank rise but Infosys slips ahead of earnings 

--Atul reports better-than-expected earnings — stock rises five percent

--Syngene slips four percent — results largely below expectations

--IndiaMART slides four percent and Coforge rises three percent after earnings

--Can Fin Homes slides 10 percent from day's high despite strong results

--Market breadth neutral as midcaps underperform — advance-decline ratio at 1:1

Jul 22, 2022 3:51 PM

Tier II IT firms have posted mixed set of numbers: Girish Pai

Girish Pai of Nirmal Bang tells CNBC-TV18 that Mindtree has stood out among Tier II IT companies on the quarterly performance front. "From a margin standpoint, they were fairly resilient. I think the numbers put out by Persistent Systems yesterday are also fairly strong. It was like double-digit growth on a QoQ basis and margins actually improved," he says. 

"Within the set I've seen, Persistent Systems and Mindtree stand out," he says. 

"Strong FY23 numbers are already factored in by the Street. They are being given the benefit of the doubt and these stocks are trading at fairly significant premiums to their pre-pandemic multiples. So I think one needs to look beyond FY23 and look at FY24, which is where I have concerns on the Tier II stocks."

Jul 22, 2022 3:31 PM
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