Mukesh Ambani during the company’s AGM said that retail business is expected to grow at least three times in next 3-5 years, aimed to be among top 10 retailers in the world. Image: Reuters

RIL Q2FY22 earnings LIVE: Mukesh Ambani-led Reliance Industries Ltd (RIL) reported July-September quarter FY22 net profit at Rs 13,680 crore, a rise of 11.4 per cent, sequentially. The company posted a sharp recovery in the retail segment and sustained growth in the oil-to-chemicals (O2C) and digital services business. In the previous quarter, net profit stood at Rs 12,273 crore. RIL revenue came in at Rs 1.58 lakh crore, against the Rs 1.4 lakh crore in the last quarter of FY22. EBITDA for the second quarter of the FY22 stood at Rs 26,020 crore, as compared to Rs 23,368 crore in first quarter of the current fiscal. Reliance Jio posted a net profit of Rs 3,528 crore in July-Sep quarter.

On the stock performance front, RIL share price hit an all-time high of Rs 2,745 on 19 October 2021 and has soared 42 per cent in the last six months. Reliance Industries has made investments in multiple green energy companies globally. The oil-to-telecom conglomerate acquired stake in four companies globally — REC Solar, Ambri, NexWafe, and S&W Solar, between August-October, this year. Moreover, RIL ‘s Reliance Retail Venture Ltd tied up to bring 7-Eleven stores to India, bought a 40% stake in Manish Malhotra Fashions, and 52% stake in Ritu Kumar’s company.