RIL Q2 Takeaways: How India’s greatest conglomerate fared in September quarter

Mukesh Amabani-led Reliance Industries‘ (RIL) second -quarter numbers have been largely in step with expectations with 29.7% progress in internet revenue and a marginal enhance in revenues.

The corporate noticed 29.7% YoY rise in consolidated internet revenue to Rs 19,878 crore for the September 2023 quarter. Income from operations rose 1.1% to Rs 2.34 lakh crore.

Revenue progress was led by operational and monetary contributions from all enterprise segments. The oil and fuel section delivered probably the most with strong progress and the dominant O2C enterprise was damage by a fall in crude oil costs.

Listed here are 5 main takeaways from RIL’s Q2 reportcard

O2C numbers muted
The dominant oil-to-chemicals was hit by a fall in crude costs, which resulted in lower cost realisation for merchandise. Weak world demand and provide overhang continued to impression downstream margins. The section’s income for the second quarter diminished by 7% year-on-year to Rs 1.47 lakh crore, primarily attributable to a pointy 14% discount in crude oil costs, leading to lower cost realisation for merchandise. EBITDA for the section rose 36% year-on-year to 16,281 crore. World refinery throughput was larger by 1.7 mb/d at 82.9 mb/d within the second quarter.

Jio’s revenue progress goes sluggish
Reliance Jio on Friday reported a internet revenue of Rs 5,058 crore for the September quarter, up 4% quarter-on-quarter, which was the slowest in seven quarters. This was primarily attributable to larger bills and a scarcity of latest tariff hikes. On a year-on-year foundation, revenue jumped 12%, whereas revenues elevated 10% within the July-September interval.ARPU (common income per consumer) for the quarter elevated 2.6% year-on-year to Rs 181.7, pushed by higher subscriber combine throughout mobility and wireline partially offset by the beginning of 5G providers.

Reliance Retail holds regular
The retail arm held regular with well-rounded progress throughout consumption baskets. Reliance Retail’s revenue rose 21% to Rs 2,790 crore, whereas income from operations jumped 19% to Rs 68,937 crore. The enterprise expanded its retailer community with 471 new retailer openings taking the full retailer rely on the finish of the quarter to 18,650 with an space of 71.5 million sq ft.

Improved oil and fuel earnings
Higher fuel value realization and 66% progress in KGD6 volumes improved oil and fuel section earnings within the second quarter. Nevertheless, the EBITDA margin was decrease attributable to larger prices associated to the commissioning and ramp-up of the MJ discipline and decommissioning of the Tapti discipline.
The second quarter income for the section is larger by 72%, primarily on account of upper manufacturing of fuel & oil and the graduation of condensate manufacturing from MJ discipline together with 6% larger fuel value realization in KG D6.

Debt and money ranges
The corporate diminished its debt to Rs 2.95 lakh crore, on the finish of the September quarter from Rs 3.18 lakh crore within the previous June quarter. Money and money equivalents stood at Rs 1.77 lakh crore

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