Reliance Q2 results satisfy; retail shines, Jio disappoints

  • Date: 23-Oct-2021
  • Source: Money Control
  • Sector:Retail
  • Country:Gulf
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Reliance Q2 results satisfy; retail shines, Jio disappoints



Reliance Industries' September quarter results (Q2FY22) are broadly in line with analysts' estimates. The retail business saw strong recovery and performed well. On the other hand, the telecom business put up a muted show.





October 23, 2021 / 03:27 PM IST





Reliance Industries' (RIL) September quarter results (Q2FY22) are broadly in line with analysts' estimates, and have even outperformed on some parameters. The company’s consolidated EBITDA (earnings before interest, tax, depreciation and amortization) increased by 11 percent vis-à-vis the June quarter (Q1FY22) to Rs 26,020 crore. This represents a 37 percent year-on-year (YoY) EBITDA growth.

Analysts from Jefferies India Pvt. Ltd said in a report on October 22, “RIL's Q2 EBITDA was in line with Jefferies estimates (JEFe) on beat in Retail, in line O2C and miss in Jio.” O2C refers to RIL’s oil-to-chemical segments.

The broker further added, “EBITDA was up 11 percent quarter-on-quarter with Jio 1 percent below JEFe, Reliance Retail (RR) 6 percent ahead of JEFe and O2C in line with JEFe.”

With the restrictions easing after the second covid-19 wave, the retail business saw a strong recovery. RIL’s Q2 retail revenues have surpassed pre-pandemic levels. Core retail revenue growth stood at 16 percent YoY. The