Reliance Industries Q3 results: India’s most valuable company witnessed a 3.2% increase in gross revenue from operations, reaching Rs 2.48 lakh crore in the December quarter compared to Rs 2.41 lakh crore in the corresponding period of the previous year.
Reliance Industries Ltd (RIL) exceeded analysts’ expectations by revealing a 10.9% surge in net profit, totaling Rs 19,641 crore for the fiscal third quarter compared to the previous year.
The consolidated earnings before interest, taxes, depreciation, and amortization (EBITDA) also witnessed a robust 16.7% increase, reaching Rs 44,678 crore year-on-year, showcasing growth across all essential operating sectors.
In the December quarter, the gross revenue from operations of India’s most valuable company increased by 3.2% to Rs 2.48 lakh crore, up from Rs 2.41 lakh crore in the corresponding period of the previous year.
“Reliance has once again demonstrated strong operational and financial performance in this quarter, a testament to the exceptional efforts of our teams across various business segments,” stated Chairman MukeshAmbani on January 19.
The company’s retail business EBITDA experienced a notable 31% year-on-year increase, reaching Rs 6,271 crore, driven by substantial growth in grocery, fashion, and consumer electronics products.
Despite a planned shutdown of key units and a challenging margin environment, the oil-to-chemicals (O2C) business of the company rose to Rs 14,064 crore in the December quarter, up from Rs 13,926 crore in the preceding year.
Reliance Industries operates the world’s largest refining complex in Jamnagar, with a total capacity of approximately 1.4 million barrels per day.
If all major O2C units were operational throughout the quarter, the O2C segment’s EBITDA would have shown a 17% increase from the previous year.
This hypothetical scenario would have also led to consolidated EBITDA growth of 22.5% and net profit growth of 19.5% from a year earlier.
The oil and gas business achieved a milestone with a record quarterly EBIDTA of Rs 5,804 crore, reflecting a substantial 46% surge compared to the same period in the previous year.
Reliance Industries comfortably covered its capital expenditure of Rs 30,102 crore with a cash profit of Rs 35,810 crore.
Ambani highlighted, “The Oil & Gas segment achieved its highest-ever quarterly EBITDA. I am pleased to note that KG D6 now contributes 30% of India’s gas production, contributing to its transition towards a greener and cleaner future.”
