RELIANCE IND. Announces Quarterly Results (2QFY22); Net Profit Up 47.1%

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RELIANCE IND. Announces Quarterly Results (2QFY22); Net Profit Up 47.1%
Tue, 26 Oct

RELIANCE IND. has announced its results for the quarter ended September 2021. Here is a detailed performance review of the same:

RELIANCE IND. Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-20*
3
Jun-21*
3
Sep-21*
QoQ ChangeYoY Change
Net SalesRs m1,161,9501,443,7201,741,04020.6%49.8%
Other incomeRs m42,49042,19042,2400.1%-0.6%
TurnoverRs m1,204,4401,485,9101,783,28020.0%48.1%
ExpensesRs m972,5001,210,0401,480,84022.4%52.3%
Gross profitRs m189,450233,680260,20011.3%37.3%
DepreciationRs m66,26068,83072,3005.0%9.1%
InterestRs m60,84033,97038,19012.4%-37.2%
Profit before taxRs m104,840173,070191,95010.9%83.1%
TaxRs m-13034,64037,5508.4%
Profit after taxRs m104,970138,430154,40011.5%47.1%
Gross profit margin%16.316.214.9
Effective tax rate%-0.120.019.6
Net profit margin%8.79.38.7
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster


Year-on-Year Performance:
  • The company's operating income during the quarter grew 49.8% on a year-on-year (YoY) basis. The expenses were up by 52.3% YoY during the same period.
  • The company's operating profit increased by 37.3% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 14.9% in 2QFY22 as against 16.3% in 2QFY21.
  • Depreciation charges increased by 9.1% and finance costs declined by 37.2% YoY, respectively.
  • Other income declined by 0.6% YoY during the quarter.
  • Net profit for the quarter increased by 47.1% YoY. Net profit margins during the quarter declined from 8.7% in 2QFY21 to 8.7% in 2QFY22.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 20.6% on a quarter-on-quarter (QoQ) basis. The expenses were up by 22.4% QoQ during the same period.
  • The company's operating profit increased by 11.3% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 14.9% in 2QFY22 as against 16.2% in 1QFY21.
  • Net profit for the quarter increased by 11.5% QoQ, while net profit margins declined from 9.3% in 1QFY21 to 8.7% in 2QFY22.

To see how RELIANCE IND. has performed over the last eight quarters,please visit here.

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RELIANCE IND. Share Price Performance

Over the last one year, RELIANCE IND. share price has moved up from Rs 2,028.7 to Rs 2,659.1, registering a Gain of Rs 630.4 or around 31.1%.

Meanwhile, the S&P BSE OIL & GAS Index is trading at Rs 18,833.1 (up 1.0%). Over the last one year it has moved up from 12,006.0 to 18,833.1, a gain of 6,827 points (up 56.9%).

Overall, the S&P BSE SENSEX is up 51.0% over the year.

Current Valuations

At the current price of Rs 2,659.1, the price to earnings (P/E) ratio of RELIANCE IND. stands at 30.4 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 2.6 times.

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