Reliance Q2 Results: Healthy growth in consolidated profit, EBITDA; 5 key highlights from RIL's Q2FY24 earnings
Reliance Industries (RIL), India's largest company by market capitalisation, on Friday (October 27) reported a 29.7 per cent year-on-year rise in its September quarter consolidated net profit at ₹19,878 crore. EBITDA, too, saw a healthy 30.2 per cent YoY rise to ₹44,867 crore while the EBITDA margin jumped 390 bps YoY to 17.5 per cent. Gross revenue, however, inched up marginally by 1.2 per cent YoY to ₹2,55,996 crore, supported by consumer businesses.
RIL is a diversified conglomerate and it operates in various sectors, including energy, petrochemicals, retail, and telecommunications. “Strong operational and financial contribution from all business segments has helped Reliance deliver another quarter of robust growth," said Mukesh D. Ambani, Chairman and Managing Director of Reliance Industries Limited.
Also Read: Reliance Q2 Results Live Updates: RIL net profit rises 27% to ₹17,394 crore (Exciting news! Mint is now on WhatsApp Channels. Subscribe today by clicking the link and stay updated with the latest financial insights! Click here!) Here are five key highlights from Reliance Industries' Q2FY24 earnings: RIL said strong subscriber growth across mobility and wireline services and scale-up of the digital services platform drove Jio Platforms' consolidated revenue and EBITDA growth. Revenue from operations for the segment rose 10.7 per cent YoY to ₹26,875 crore in Q2FY24 while net profit saw a 12 per cent YoY growth to ₹5,297 crore.
EBITDA during the quarter rose 12.6 per cent YoY to ₹13,528 crore and EBITDA margin moved up by 80 bps YoY to 50.3 per cent. Jio added an industry-leading 1.11 crore subscribers during the quarter with monthly churn of 1.7 per cent. ARPU increased 2.5 per cent YoY to ₹181.7 driven by a
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