Reliance Q3 Results: Net Profit Up by 11% to ₹19,641 Crore, Revenue ₹2.28 Lakh Crore

Reliance Q3 Results:

  • Reliance Industries presented good results for the October-December quarter.
  • The company’s quarterly net profit increased by 11% to reach Rs 19,641 crore.
  • Consolidated revenue reached Rs 2.48 lakh crore, marking a 3.2% increase.
  • Operating profit (EBITDA) stood at Rs 44,678 crore, a growth of 16.7%.
  • Mukesh Ambani mentioned that growth was recorded in all business segments.
  • The EBITDA for the retail business increased by 31% to Rs 6,271 crore.
  • The O2C business reached Rs 14,064 crore, showing growth from the previous year.
  • The oil and gas business achieved a record quarterly EBIDTA of Rs 5,804 crore, 46% higher than the previous year.
  • The company’s capital expenditure stood at Rs 30,102 crore, easily covered by its cash benefits of Rs 35,810 crore.

Reliance Q3 Results: Net Profit Up by 11% to ₹19,641 Crore, Revenue Reaches ₹2.28 Lakh Crore

According to report of money control date- Jan 19, 2024: Reliance Industries revealed the financial results for the quarter ending in December on Friday, January 19. The company reported that its consolidated net profit for the quarter increased by 11% annually to reach ₹19,641 crore. Furthermore, its consolidated revenue also saw a 3.2% annual increase, reaching ₹2.48 lakh crore as compared to ₹2.41 lakh crore in the same quarter the previous year. The operating profit (EBITDA) for the December quarter stood at ₹44,678 crore, marking a 16.7% annual growth. How Does Nifty Function: Business Insights, Trading Strategies, and Forecasts

In a survey conducted by Manikcontrol, 8 brokerage firms and analysts had estimated the company’s net profit to be ₹16,625 crore and operating profit to be ₹40,232.70 crore for the December quarter. Consequently, the company’s performance in the market may be considered better than expected.

Chairman Mukesh Ambani stated in a press release on January 19, “Reliance has delivered another outstanding quarter of robust business and financial results across all our businesses. Each of our businesses has displayed exceptional capability in proactively navigating the impact of the pandemic.”

Reliance Industries’ retail business recorded a 31% annual growth in EBITDA for the December quarter, reaching ₹6,271 crore. Additionally, the O2C (Oil-to-Chemicals) business increased to ₹14,064 crore, compared to ₹13,926 crore in the same quarter the previous year.

The company’s Oil and Gas business marked a record quarterly EBIDTA of ₹5,804 crore, indicating a 46% increase compared to the previous year. The company’s capital expenditure stood at ₹30,102 crore, easily covered by its cash benefit of ₹35,810 crore.