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Reliance Industries Ltd (RIL) Friday posted a 19.1 per cent rise in its consolidated net profit at Rs 19,299 crore during the January-March quarter, beating Bloomberg consensus estimate of Rs 16,442 crore.
Consolidated revenues during the period was up 2.1 per cent at Rs 2.16 trillion, which was below estimate of Rs 2.25 trillion. The company’s Ebitda at
Rs 41,389 crore was up 22 per cent from the same period last year, and above estimate. Ebitda refers to earnings before interest, taxes, depreciation, and amortisation.
“I am happy to note RIL’s initiatives in digital connectivity and organised retail are driving greater efficiencies in the economy and contributing to India’s emergence as one of the fastest growing economies in the world,” RIL CMD Mukesh Ambani said. He said that RIL’s oil-to-chemicals (O2C) segment posted its highest-ever operating profit despite global uncertainties and disruptions in commodity trade flows.
In the fourth quarter, RIL’s oil and gas (exploration & production) revenues more than doubled to Rs 4,556 crore, mainly on account of higher price realisation and a 13 per cent rise in KGD-6 gas production. The average price realised for KGD6 is $11.39/MMBTU in Q4, compared with $6.13/MMBTU in year ago quarter.
RIL’s revenue from the O2C segment fell 11.8 per cent on a year-on-year basis to Rs 1.29 trillion, primarily on account of sharp reduction in crude oil prices and lower price realisation of downstream products. Ebitda improved by 14.4 per cent to
Rs 16,293 crore, while Ebitda margin was at 12.7 per cent, a 290-basis point rise led by strength in transportation fuel cracks, optimised feedstock cost and advantageous ethane cracking economics.
RIL’s full year consolidated net profit rose 14 per cent to Rs 74,088 crore, while Ebitda crossed Rs 1.5 trillion for the first time. Gross revenue rose 23.2 per cent to Rs 9.77 trillion, supported by continuing growth momentum across all businesses.
“In the last 10 years, we have allocated capital to consumer-centric business, which has transformed the earning mix and positioned us as a consumer and tech company,” RIL CFO Venkatachari Srikanth said, adding the new energy investments will drive energy transition and the next wave of earnings growth. “The emphasis remains on disciplined capital allocation to support growth initiatives.” FE
New Delhi: Reliance Retail, the country’s leading retailer, Friday reported a 12.9 per cent increase in its net profit to Rs 2,415 crore for the quarter that ended on March 31, 2023, led by a sustained growth momentum across consumption baskets, increase in footfalls and new store openings. Besides, Reliance Retail also added 966 new stores in the March quarter, taking the total count to 18,040. It reported 41.29 per cent rise in footfall at its stores to 21.9 crore. PTI
New Delhi: The country’s biggest telecom operator Reliance Jio on Friday reported a 13 per cent increase in net profit to Rs 4,716 crore for the fourth quarter ended March 2023, the company said in a regulatory filing. Its revenue from operations in the reported quarter increased by about 12 per cent to Rs 23,394 crore from March 2022 quarter. PTI
