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Reliance Jio results declared- Qr ended Sept 2020

Strategic Updates

  • Jio Platforms Limited, a wholly owned subsidiary of Reliance Industries Limited, raised ₹ 152,056 crore from leading global investors including Facebook, Google, Silver Lake, Vista Equity Partners, General Atlantic, KKR, Mubadala, ADIA, TPG, L Catterton, PIF, Intel Capital and Qualcomm Ventures.
  • Reliance Retail Ventures Limited (RRVL), a wholly owned subsidiary of Reliance Industries Limited, raised ` 37,710 crore of investments from leading global investors including Silver Lake, KKR, General Atlantic, Mubadala, GIC, TPG and ADIA.
  • RRVL has entered into an agreement to acquire retail & wholesale business and the logistics & warehousing business of the Future Group for a consideration of ` 24,713 crore. This acquisition is subject to SEBI, CCI, NCLT, shareholders, creditors and other requisite approvals.
  • RRVL acquires majority stake in leading digital pharma market place “Netmeds” for a consideration of ~ ` 620 crore.
  • Qualcomm Technologies, Inc. and Jio Platforms Limited (Jio) along with its wholly owned subsidiary Radisys Corporation announced expanded efforts to develop open and interoperable interface compliant architecture based 5G solutions with a virtualized RAN. This work is intended to fast track the development and roll out of indigenous 5G network infrastructure and services in India.
  • The Company supported job creation in the economy during the pandemic-impacted period and generated in excess of 30,000 new jobs during April – September 2020 in Consumer businesses and last mile delivery.

Results at a glance (Q-O-Q)

Consolidated – RIL

  • Revenue for the quarter was ` 128,385 crore ($ 17.4 billion) higher by 27.2%
  • EBITDA before exceptional item for the quarter was ` 23,299 crore ($ 3.2 billion) higher by 7.9%
  • Net Profit before exceptional item for the quarter was ` 10,602 crore ($ 1.4 billion) higher by 28.0%
  • Cash Profit before exceptional item was ` 16,837 crore ($ 2.3 billion) higher by 20.9%
  • EPS before exceptional item was ` 14.8 per share, increased 14.9%

Consolidated – Jio Platforms Limited

  • Revenue including access revenues for the quarter was ` 21,708 crore ($ 2.9 billion) higher by 7.1%
  • EBITDA for the quarter was ` 7,971 crore ($ 1.1 billion) increase of 8.7 %
  • Net profit for the quarter was ` 3,020 crore ($ 409 million) growth of 19.8%
  • Total Customer base as on 30th Sept 2020 of 405.6 million, growth of 1.8%
  • ARPU during the quarter of ₹ 145.0 per subscriber per month as against ₹ 140.3 per subscriber per month in the trailing quarter
  • Total wireless data traffic during the quarter of 1,442 crore GB;1.5% growth

Consolidated – Reliance Retail

  • Revenue for the quarter was ` 41,100 crore ($ 5.6 billion) higher by 30.0%
  • EBITDA for the quarter was ` 2,006 crore ($ 272 million) higher by 85.9%
  • Net profit for the quarter was ₹ 973 crore ($ 132 million) higher by 125.8%
  • Cash Profit for the quarter was ₹ 1,408 crore ($ 191 million) higher by 77.3%
  • 11,931 operational physical stores; net addition of 125 stores during the quarter

Commenting on the results, Mukesh D. Ambani, Chairman and Managing Director, Reliance Industries Limited said: “We delivered strong overall operational and financial performance compared to previous quarter with recovery in petrochemicals and retail segment, and sustained growth in Digital Services business.

Domestic demand has sharply recovered across our O2C business and is now near pre-Covid level for most products. Retail business activity has normalised with strong growth in key consumption baskets as lockdowns ease across the country. With large capital raise in last six months across Jio and Retail business, we have welcomed several strategic and financial investors into Reliance family.

We continue to pursue growth initiatives in each of our businesses with a focus on the India opportunity.”
CT Bureau

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