Reliance Industries Ltd Q2 Results FY2023, PAT at Rs. 15512 crores
On 21st October 2022, Reliance Industries Ltd announced its second quarter results for the period ending 30th September 2022.
Q2FY23 Performance updates:
- Consolidated EBITDA at ₹ 34,663 crores, up 14% YoY led by consumer businesses and upstream
- Net profit at ₹ 15,512 crores, up marginally YoY, earnings were impacted by lower O2C contribution YoY, sharper impact on QoQ
- Robust Retail Revenues and EBITDA with growth across consumption baskets, a sharp rebound in footfalls and strengthening of digital channels
- Record Digital Services segment performance - total subscriber base at 427.6 Mn, improving ARPU
- The retail segment reported Revenue up by 43% YoY; EBITDA up by 51% YoY. Total store count crossed 16,000 mark, added 795 new stores in 2Q FY23. Reliance retail Launched JioMart on WhatsApp - 37% of orders from customers new to JioMart.
- The digital services segment reported revenue up by 21% YoY; EBITDA up by 29% YoY. ARPU at ₹ 177.2 with improving subscriber mix.
- O2C Business segment reported Revenue up by 33% YoY; EBITDA down by 6% YoY. Strong middle distillate cracks with tight supply in Europe on gas to oil switching. Weak polymer margins amid volatile feedstock prices, lower demand; stable polyester chain deltas. Higher crude procurement cost with increased OSPs, freight and insurance.
- Oil and Gas segment Revenue is up by 134% YoY; EBITDA is up 3x YoY. Average gas price realization for KGD6 at $9.9/MMBTU, significantly below avg. Asian LNG price of $ 46 /MMBTU. Production stable at 19 MMSCMD, >20% of India’s domestic gas production
Reliance's share price dropped by 1.54%
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DisclaimerInvestment/Trading is subject to market risk, past performance doesn’t guarantee future performance. The risk of trading/investment loss in securities markets can be substantial. Also, the above report is compiled from data available on public platforms.
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