Reliance Q2 net profit rises 41% to ₹25,548 crore as oil-to-chemicals EBITDA jumps 68%

What happened

• Upstox, in a report timed at 9:12 PM on Friday, gave consolidated net profit attributable to owners as ₹25,548 crore against ₹18,165 crore, up 41%, and revenue of ₹3,32,861 crore, up 28.5%. EBITDA was ₹62,409 crore, up 24%, at a margin of 17.2%, down 60 basis points.
• Oil-to-chemicals revenue rose 44.2% to ₹2,31,601 crore and its EBITDA rose 68% to ₹25,203 crore from ₹15,008 crore. Upstox quoted the company as attributing this to tight fuel markets, better downstream petrochemical margins and firm domestic demand.
• The Tribune reported a different profit measure: profit after tax of ₹29,550 crore, up 33.8%, on gross revenue of ₹3,62,268 crore, up 27.8%. It gave first-half profit as ₹52,746 crore, retail gross revenue as ₹91,716 crore, up 6.4%, capital expenditure as ₹38,153 crore and net debt as ₹1,17,140 crore at 30 September.

Why it matters

The two outlets report different profit and revenue lines: Upstox gives net profit attributable to owners and net revenue, The Tribune gives profit after tax and gross revenue.

Good to know: Oil-to-chemicals, or O2C, is Reliance's refining and petrochemicals business. EBITDA is earnings before interest, tax, depreciation and amortisation, a measure of operating profit before financing and accounting charges.

Key facts

Net profit attributable to owners, per Upstox

₹25,548 crore (₹18,165 crore), up 41%

Profit after tax, per The Tribune

₹29,550 crore, up 33.8%

EBITDA, per Upstox

₹62,409 crore (₹50,367 crore), up 24%

O2C EBITDA, per Upstox

₹25,203 crore (₹15,008 crore), up 68%

Net debt at 30 September, per The Tribune

₹1,17,140 crore

Read the source

• Reliance Q2 results: Net profit jumps 41% YoY to ₹25,548 crore; O2C revenues surge 44% on higher energy pricesUpstox
• Reliance Industries posts highest-ever Q2 revenue of Rs 3.62 lakh crore, profit surges 33.8%The Tribune

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