Reliance Industries Ltd. (RIL) reported a 43% YoY jump in its Q2 earnings to INR 136.8bn ($1.8bn) as its business saw better performance, alongside a decrease in finance costs by 37%. Its consolidated revenues stood at INR 1.67tn ($22.2bn), up 51% YoY led by its the oil to chemicals (O2C) that contributed ~72% of the revenues, benefitting from higher crude prices. Its Jio unit saw net profits rise 23% YoY with an increased ARPU, although it lost 11mn mobile users. Besides, its retail and digital service businesses also saw a rise in their top-line by 10% and 7.4% respectively. Its consolidated revenues, PBIDT (profit before interest, depreciation, and tax), and net profits were the highest-ever since June 2013, as per Business Standard.
RIL’s dollar bonds were flat with its 4.125% 2025s at 107.4, yielding 1.8%.
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