RIL consolidated Q1 PAT falls 7% to Rs 12,273 crore, beats estimate

Exceptional gains in year-ago quarter pulls down profit; O2C and digital services key drivers, retail impacted by lockdowns

Mukesh Ambani-led Reliance Industries (RIL) posted a consolidated net profit (attributable to owners of the company) of Rs 12,273 crore for the first or June quarter of 2021-22 (Q1 FY22), a year-on-year (YoY) and quarter-on-quarter (QoQ) decline of about 7 per cent. Yet, it was higher than the Bloomberg consensus estimate of Rs 11,280.4 crore.

Consolidated net revenue for Q1 FY22 stood at about Rs 1.40 trillion. While it was 58.6 per cent higher than the Rs 88,253 crore reported in the year-ago quarter, it came in lower that the consensus estimate of about Rs 1.46 trillion.

The performance was driven by