RIL profit declines 7.3% to Rs 12,273 crore, misses estimate
Reliance Industries (RIL), on Friday, missed estimates by reporting a consolidated net profit of Rs 12,273 crore for April-June quarter, down 7.3% on a year-on-year basis. The company’s consolidated revenues during the period at Rs 1.4 lakh crore, was up 58.2% y-o-y, slightly behind Bloomberg consensus estimates.
Earnings before interest, taxes, depreciation and amortisation (Ebitda) for the quarter was Rs 23,368 crore, up by 38.5% annually as Ebitda for Jio Platforms increased 21.3% to Rs 8,892 crore and retail Ebitda rose 79.9% to Rs 1,941 crore. Ebitda for RIL’s oil to chemical business improved by 49.8% annually to Rs 12,231 crore while its gas production business unit reported an Ebitda of Rs 797 crore against a negative Ebitda of Rs 32 crore in Q1FY21.
