Reliance Q3 profit scales up 38 pc to Rs 20,539 crore

Reliance Industries Limited (RIL), India's largest corporation by market capitalization, announced on Friday that its consolidated net profit for the third quarter of the current financial year increased by 37.9 percent to Rs 20,539 crore   The company's gross sales increased by 52.2 percent to Rs 209,823 crore  in the quarter ended December 31, 2021.

"I am pleased to report that Reliance continued to perform admirably in the third quarter of FY22. With significant contributions from all of our businesses, we have achieved record operating performance "Reliance Industries Limited Chairman and Managing Director Mukesh D. Ambani commented on the Q3 FY22 results.

For the October-December 2021 quarter, Reliance Industries posted a record consolidated EBITDA of Rs 33,886 crore, up 29.9 percent year on year. The company's earnings per share (EPS) increased by 38.1 percent to Rs 28.1 in the third quarter of the current fiscal year.

The company reported a record quarterly revenue of Rs 25,200 crore from digital services, up 6.4 percent year over year. For the first time, EBITDA for Digital Services surpassed Rs 10,000 crore. Reliance Retail had a historic quarter, with record revenue and EBITDA.

The Company's outstanding debt was Rs 244,708 crore  as of December 31, 2021. As of December 31, 2021, cash and cash equivalents totaled Rs 241,846 crore. For the quarter ending December 31, 2021, Reliance's capital expenditure (including currency rate differences) was Rs 27,582 crore.

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