New Delhi, Jul 21 (IANS): Reliance Industries Limited posted consolidated revenues of Rs 231,132 crore ($28.2 billion), down 4.7 per cent YoY, for Q1 FY2023-24 due to sharp decline in O2C revenues with 31 per cent fall in crude oil prices.

Reliance’s quarterly EBITDA stood at a record high of Rs 41,982 crore ($5.1 billion), up 5.1 per cent Y-o-Y, led by consumer and upstream businesses.Its consolidated profit after tax (PAT) was at Rs 8,258 crore ($2.2 billion), down 5.9 per cent YoY, on account of higher finance cost and increased depreciation.

The capital expenditure for the quarter was Rs 44,683 crore ($5.4 billion).

Jio Platforms’ gross revenue for the quarter was at a record high of Rs 30,640 crore, up 11.3 per cent Y-o-Y.Its EBITDA for the quarter was at a record Rs 13,116 crore, up 14.8 per cent Y-o-Y, while its net profit for the quarter was Rs 5,098 crore, up 12.5 per cent Y-o-Y.

Jio’s network leadership drove 9+ million net subscriber addition, and 25GB of per capita data consumption. Its total data traffic jumped 28.3 per cent Y-o-Y to 33.2 billion GB for the quarter, while voice traffic grew 7.2 per cent to 1.34 trillion minutes.

Jio continued to lead the industry’s net subscriber addition with 9.2 million adds in the quarter. Its monthly churn reduced to 1.8 per cent during the quarter, while its customer base stood at 448.5 million as on June 30.

Jio has deployed over 115,000 sites with 690,000 5G cells covering more than 90 per cent census towns and is leading in terms of both network availability and customer experience.

Meanwhile, the quarterly EBITDA for Reliance Retail crossed Rs 5,000-mark.Robust growth continues in retail with expanded physical-digital footprint. Reliance Retail posted a record high quarterly revenue at Rs 69,948 crore, up 19.5 per cent Y-o-Y led by growth in grocery, consumer electronics (excluding devices) and fashion & lifestyle.

Reliance Retail posted record quarterly EBITDA at Rs 5,139 crore, up 33.9 per cent Y-o-Y. The EBITDA margin was at 7.9 per cent, up 30 bps Y-o-Y driven by efficiencies.

Reliance Retail’s net profit for the quarter stood at Rs 2,448 crore, up 18.8 per cent Y-o-Y.

Reliance Retail maintained its store opening trajectory with 555 new store openings, taking the total count to 18,446 stores. It added 5 million sq ft of operated area to 70.6 million sq ft.

Reliance Retail recorded highest-ever footfalls at 249 million across formats during the quarter. The Digital Commerce and New Commerce businesses continued to grow and contributed to 18 per cent to the revenue.

Reliance’s O2C segment quarterly revenue fell 17.7 per cent Y-o-Y to Rs 133,031 crore, primarily on account of sharp reduction in crude oil prices and lower price realisation of downstream products. This was partially offset by higher volumes.

The O2C segment was impacted by 60-70 per cent Y-o-Y decline in fuel cracks due to the energy market dislocation in the year-ago quarter.

The O2C EBITDA for the quarter was at Rs 15,271 crore, reduced by 23.2 per cent Y-o-Y, led by fall in transportation fuel cracks and lower downstream chemical margins.

The O2C production meant for sale was 17.2 million tonne for the quarter, up 1.8 per cent Y-o-Y.

Reliance’s Oil & Gas segment quarterly revenues jumped 27.8 per cent to Rs 4,632 crore on account of higher price realisation and increase in KGD6 volumes thanks to MJ field.Its EBITDA increased sharply to Rs 4,015 crore, up 46.7 per cent Y-o-Y.

The KG-D6 production for the quarter was 48.3 BCFe, up 18.4 per cent Y-o-Y.