Financial Insights

RIL Q3 results beat estimates as net profit jumps 41.5%

Reliance Industries posted fantastic results on Friday as its net profits grew 41.5% YoY to Rs 18,549 crores for the quarter ended on December 2021. Its revenues from operations rose 54% to Rs 1.91 lakh crore as opposed to Rs 1.23 lakh crore for the quarter ended on December 2020.

The average estimates for the quarter were around Rs 15,264 crores net profit and Rs 1.75 lakh crore revenue from operations. Reliance beat the estimates as its results were well above the estimated numbers.

“I am happy to announce that Reliance has posted best-ever quarterly performance in 3Q FY22 with strong contribution from all our businesses. Both our consumer businesses, retail and digital services have recorded highest ever revenues and EBITDA. During this quarter, we continued to focus on strategic investments and partnerships across our businesses to drive future growth,” Mukesh Ambani, chairman of Reliance Industries, said.

The company reported an EBITDA of Rs 33,886 crores during the third quarter. The oil and gas revenues rose by 55% to 2,559 crores. The EBIT from gas and oil saw 250% QoQ growth.

Highlight by Aman Agarwal.

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