Mukesh D. Ambani
| Photograph Credit score: SHASHI ASHIWAL
Reliance Industries Ltd. (RIL) reported first-quarter consolidated web revenue declined 4% to ₹17,448 crore from the year-earlier interval, largely on account of larger depreciation.
“Consolidated income for the quarter ended June 30, 2024 elevated 11.5% 12 months on 12 months (YoY) to ₹2,57,823 crore led by larger oil costs and volumes in O2C [Oil to Chemicals] and oil and fuel segments with regular progress in shopper companies,” the corporate mentioned in a regulatory submitting.
For the quarter ended June, the corporate reported capital expenditure of ₹28,785 crore. Consolidated web debt as of June 30, 2024 was marginally decrease at ₹1,12,341 crore as in opposition to ₹1,16,281 crore as of March 31, 2024.
“Consolidated EBITDA [at ₹42,748 crore, up 2% YoY] for the quarter improved from a 12 months in the past with robust contribution from shopper and upstream companies offsetting weak O2C working atmosphere,” Chairman and Managing Director Mukesh D. Ambani mentioned in an announcement.
“Reliance’s resilient working and monetary efficiency on this quarter underscores the energy of its numerous portfolio of companies. Importantly, these companies are contributing considerably to India’s progress, offering very important vitality and vibrant channels for digital and bodily distribution of products and companies,” he added.
Jio Platforms reported web revenue for the quarter grew 11.7% YoY to ₹5,698 crore. The typical income per person (ARPU) got here in at ₹181.7 with higher subscriber combine, partially offset by rising mixture of promotional 5G site visitors being provided on a vast foundation to subscribers and never charged individually, the corporate mentioned.
Reliance Retail reported gross income of ₹75,615 crore, up 8.1% YoY. Its quarterly EBITDA at ₹5,664 crore was a ten.5% YoY progress, led by a rise in footfalls and enlargement of retailer footprint, moreover streamlining of operations driving margin enchancment. The corporate’s O2C phase reported income progress of 18.1% YoY to ₹1,57,133 crore totally on account of upper product costs, monitoring a 9% enhance in Brent crude oil costs, and better volumes supported by robust home demand, the corporate mentioned.
The EBITDA of this phase for the quarter was decrease by 14.3% YoY at ₹13,093 crore on account of decrease transportation gasoline cracks, notably gasoline cracks, which was down 30% YoY. Downstream chemical margins have been additionally decrease at 15-17% on a YoY foundation, RIL added.
The oil and fuel enterprise reported 33.4% larger income in contrast with the identical interval final 12 months, primarily on account of upper volumes partly offset by lower cost realisation from KG D6 and CBM Subject, it mentioned.
The typical worth realised for KG D6 fuel was $9.27/MMBTU throughout this quarter as in contrast with $ 10.81/MMBTU within the 12 months precedent days. The typical worth realised for CBM fuel was $ 11.59/MMBTU as in contrast with $14.15/MMBTU in the identical interval final 12 months. The phase’s EBITDA elevated to ₹5,210 crore, up 29.8% YoY.
Mr. Ambani mentioned the digital companies enterprise registered a powerful monetary efficiency 12 months on 12 months, persevering with its optimistic progress momentum.
“Retail enterprise delivered strong monetary outcomes, as in comparison with final 12 months, effectively supported by all consumption baskets. The deep integration and adaptability constructed into our O2C enterprise mannequin helped mitigate the impression of difficult working atmosphere. The enterprise was impacted by decrease gasoline cracks with tepid world demand and ramp-up of recent refineries,” he added.
Mr. Ambani mentioned the oil and fuel phase continued its progress trajectory with larger manufacturing, offsetting decrease year-on-year fuel worth realisations.
