All information presented in this release and in the earnings reports is current as of February 3, 2022. The information in the quarterly earnings report is as of the date of issue only.
Tomorrow (July 23), India’s largest trading company Reliance Industries Ltd will announce quarterly financial results for April-June current financial balance. On Friday, Mukesh Ambani-owned oil telecommunications conglomerate Reliance Industries Limited (RIL) reported a consolidated net income of Rs 12,273 crore, down 7.2% year-over-year for the quarter ended June 30, 2021. Reliance Jio, a subsidiary of Reliance Industries, posted a net profit of Rs 3,651 crore, up 45 percent from last year, for the first quarter of fiscal year 2022.
Reliance Q1 Results 2022 Date
Reliance Retail posted a net profit of Rs 962 crore, up 123.2% from the June quarter. The company’s gross sales were Rs 38,547 crore, up 21.9% from last year. RIL’s two main divisions, Reliance Retail and Reliance Jio, posted strong revenue growth, with retail net income more than doubling and telecoms net income up 45%. The oil conglomerate’s operating revenue increased by 58.2% to Rs 1.44 billion compared to Rs 91,238 crore in the prior year period.
The average revenue per user (ARPU) in June was Rs 138.4. The value of sales and services for the quarter was Rs 158,862 crore, up 57.4%. In addition, RIL’s consolidated earnings before interest, taxes, depreciation and amortization for the June quarter was Rs 27,550 crore, a record quarterly figure, the company said. The oil and gas conglomerate reported its highest annual net profit of Rs 53,739 crore for the fiscal year 2020-21, up 34.8% from the previous year.
Telecommunications subsidiary RIL Jio reported a net income of Rs 3,651 crore for the first quarter of the 22nd quarter, up 45% from Rs 2,519 crore in the same quarter last fiscal year. “Jio posted another record quarterly results with an industry-leading operating performance. The oil and telecoms conglomerate is expected to perform well in the September quarter on the back of a low base effect and resumption of activity after a second wave.” COVID-related store restrictions during the quarter impacted our operations and the profitability of our retail business.
The operating profit of the oil-to-chemicals (O2C) business increased due to improved profitability of oil refining and petrochemicals. Full-year 2022 adjusted operating margin 4 is expected to increase by 20-30 basis points from 15.6% to 15.7%. Revenue for the full year of 2022 is expected to be $20.0-$20.5 billion, or an increase of 7.8%-10.8% (8.5%-11.5% in constant currency). Full-year 2022 adjusted diluted earnings per share 4 are expected to range from $4.46 to $4.60.
Meanwhile, Yes Securities said it expects RIL’s net profit to increase by more than 36% year-on-year and 4.8% quarter-on-quarter. RIL’s revenue is also expected to increase by 35.90% YoY and 8% QoQ. On February 2, 2022, the company declared a quarterly cash dividend of $0.27 per share, 12% higher than registered shareholders as of February 18, 2022.
Accordingly, we believe that the presentation of our non-GAAP measures, in conjunction with the reported GAAP results, can provide useful additional information to our management and investors regarding financial and business trends relating to our financial position and results of operations. For the purposes of our internal management reporting and budgeting, we use various GAAP and non-GAAP financial ratios to make financial and operational decisions, to evaluate period comparisons, to determine our executives’ compensation shares, and to compare our operating results to those of our competitors. For a reconciliation of these non-GAAP financial ratios with the most directly comparable GAAP financial ratios, see the tables in the “—Reconciliation of GAAP and Non-GAAP Financial Results” section included at the end of this issue.
We use Adjusted EBITDA, Adjusted EBITDA Margin, Non-GAAP Costs and Expenses, Non-GAAP Operating Income, Non-GAAP Net Income and Non-GAAP Net Income per Share to measure our operating performance and for financial and operating decision-making purposes. .We provide Adjusted EBITDA, Adjusted EBITDA Margin, Non-GAAP Costs and Expenses, Non-GAAP Operating Income, Non-GAAP Net Income and Non-GAAP EPS to help potential investors view our performance through management’s eyes, Because we believe these measures provide an additional tool that investors can use to compare our multi-period operating performance with that of other companies in our industry. A limitation of using non-GAAP financial ratios compared to financial ratios calculated in accordance with GAAP is that non-GAAP financial ratios do not represent all amounts related to our operating results as determined in accordance with GAAP and may not include recurring costs, such as profit or net operating foreign exchange losses.
We also believe that Adjusted EBITDA, Adjusted EBITDA Margin, Non-GAAP Costs and Expenses, Non-GAAP Operating Income, Non-GAAP Net Income and Non-GAAP Net Earnings Per Share provide useful information about our operating Greater transparency of our past results and future prospects, as well as the key metrics we use to make financial and operational decisions. Consequences of results that differ materially from those anticipated in the forward-looking statements could include business interruption, operational problems, financial loss, liability to third parties and similar risks, all of which could have a material adverse effect. About DuPont’s consolidated financial condition, results of operations, credit ratings or liquidity. A detailed discussion of certain material risks and uncertainties that could cause results and events to differ materially from such forward-looking statements is contained in DuPont’s Annual Report on Form 10 entitled “Risk Factors” (Part I, Item 1A) Section – K, Updates in Subsequent Periodic and Ongoing Reports Filed by DuPont with the Securities and Exchange Commission. Forward-looking statements may include, but are not limited to, the statements contained herein, the discussion and analysis of Managementas under the heading “Forward-Looking” in Bankas’ 2020 Annual Report and other statements relating to Bankas’ objectives, strategies to achieve those objectives, the Bank’s The regulatory environment in which to operate, the expected financial results and outlook for banking activities, and the economy of Canada, the United States, and the global economy.
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Reliance Industries Limited is an Indian company operating in the refining, petrochemical, oil and gas, organised retail, digital services and financial services sectors. Reliance Industries Ltd. is engaged in hydrocarbon exploration and production, refining and marketing, petrochemicals, retail and telecommunications.