Reliance Industries Q2 Review - Accelerated Growth Ambition To Drive Performance: ICICI Direct
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ICICI Direct Report
Reliance Industries Ltd.’s results were broadly in line with our estimates.
Revenue was up 49.8% YoY to Rs 174104 crore as all segments reported revenue growth.
It grew 20.6% QoQ led by retail and oil-to-chemical segment. Ebitda was Rs 26020 crore, up 37.3% YoY, 11.3% QoQ.
RIL's Ebitda growth YoY was driven by retail (44.1%) and oil-to-chemical (43.9%) on account of favorable product mix and higher other income in retail coupled with better downstream demand and margins in oil-to-chemical.
Profit after tax was at Rs 13680 crore, up 43% YoY.
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