India's largest and most prominent conglomerate, Reliance Industries Limited, has shattered all previous financial and business records by demonstrating exceptional corporate strength. On October 30, following the closure of the stock market, the company officially announced its stellar financial results for the September quarter of the current fiscal year. This marks the first time in the glorious history of Reliance Industries that the company has generated such a massive and unprecedented net profit within a single quarter. The consolidated net profit of the company surged by an impressive 34 percent to reach a historic and unprecedented milestone of Rs 29,550 crore.
During the corresponding quarter of the previous fiscal year, the company had posted a net profit of Rs 22,092 crore, which has now skyrocketed directly to the Rs 29,550 crore mark. This solid performance by the company has comprehensively surpassed all major estimates and expectations projected by market experts and financial analysts. Not just on a quarterly basis, but within the first half of the current fiscal year spanning the initial 6 months, the total net profit of the company has comfortably crossed the Rs 50,000 crore threshold. This is the first occasion in Indian corporate history and the journey of Reliance that such a monumental profit has been recorded in the first half of any fiscal year.
The consolidated revenue of Reliance Industries also registered a strong and solid growth of approximately 28 percent. 62 lakh crore. In addition to this, the operational profit, or EBITDA, of the company witnessed a strong surge of 24 percent, scaling up to an all-time high level of Rs 62,409 crore. Every single business vertical of the company contributed Importantly to this extraordinary financial success, generating immense enthusiasm among investors and the broader stock market.
Oil-to-Chemicals business powers Reliance's treasury
The single largest and most pivotal driver behind this record-breaking and historic earnings performance of Reliance Industries was its Oil-to-Chemicals, or O2C, business division. Driven by elevated global crude oil prices alongside rising prices of refined products, this business segment witnessed a phenomenal expansion. 32 lakh crore. 9 percent, touching Rs 25,203 crore. 9 percent. Along with the O2C business, the retail sector spread nationwide also played an instrumental role in propelling the overall growth trajectory of the company.
Jio's stellar listing and surge in digital earnings
On the digital services and telecommunications front as well, Reliance delivered a remarkably solid and commendable performance. 3 percent on a year-on-year basis to reach Rs 47,485 crore. This growth was primarily driven by the continuous addition of new subscribers to the network along with an increase in the Average Revenue Per User, commonly known as ARPU. 1 percent.
On the momentous occasion of announcing these financial results, company Chairman Mukesh Ambani made special mention of the historic and thunderous entry of Jio into the stock market. Earlier this week, Jio Platforms witnessed a sensational listing on the Indian stock exchanges. Its Initial Public Offering received an overwhelming response from domestic and international investors, garnering a massive subscription of over 22 times. Ever since its debut on the bourses, its shares have maintained strong upward momentum and sustained buying interest. Following this monumental achievement and massive valuation, Jio Platforms has now officially become the second-largest company in the country.
Reducing debt while leading in capital expenditure and investments
Along with generating record profits and scaling its business to new heights, Reliance has aggressively reduced its debt burden. 17 lakh crore by the end of September. 47 percent. Throughout this entire quarter, the company undertook a substantial capital expenditure, or capex, amounting to Rs 38,153 crore aimed at expanding its future business operations and investing in advanced technologies.
As these financial results were declared on Friday after the official closure of the stock market and outperformed market expectations across every single financial parameter, their profound positive impact is expected to reflect heavily on the movement of the company's shares on the upcoming trading session on Monday, November 3. Market experts believe that following these historic numbers, investor confidence in Reliance has strengthened Notably, paving the way for sustained positive momentum in the stock in the days to come.