Reliance Industries Q3 Results: Net Profit Jumps 9 Per Cent To Rs 17,265 Crore

RIL's revenue from the oil-to-chemicals unit fell 2.4 per cent, primarily on account of lower price realisation, while planned maintenance and inspection shutdown of units at its Jamnagar refinery

Reliance Industries Ltd (RIL) on Friday clocked a 9 per cent rise in its December quarter (Q3) net profit as a planned maintenance-induced weakness in oil business earnings was offset by stability in retail and telecom verticals. The company's net profit of Rs 17,265 crore, or Rs 25.52 per share, in October-December, the third quarter of the current 2023-24 fiscal, was 9.3 per cent higher than Rs 15,792 crore, or Rs 23.19 a share, earning a year back, according to a company's stock exchange filing.

Mukesh Ambani-led RIL's revenue from operations was almost flat at Rs 2.2 lakh crore. Revenue from the oil-to-chemicals unit fell 2.4 per cent, primarily on account of lower price realisation, while planned maintenance and inspection shutdown of units at its Jamnagar refinery complex impacted yields and profitability, Reliance said in a statement.

Shares of Reliance closed at Rs 2,735.05 apiece, up 0.01 per cent, on the BSE on Friday.

Reliance Retail Venture Ltd (RRVL) on Friday posted a 31.87 per cent rise in its net profit to Rs 3,165 crore for the third quarter ended in December 2023. Its revenue from operations surged 23.75 per cent to Rs 74,373 crore in the December quarter of FY24, led by its grocery, fashion & lifestyle and consumer electronics businesses.

Reliance Retail, the retail arm of Mukesh Ambani-led RIL, logged a net profit of Rs 2,400 crore in the October-December quarter of FY2022-23, and its revenue from operations was Rs 67,623 crore. The gross revenue of Reliance Retail was up 22.83 per cent to Rs 83,063 crore in the December quarter. Its “EBITDA margin from operations on net sales was at 8.1 per cent, up 40 bps Y-o-Y driven by operating leverage and continued focus on cost management”, said an earning statement.

Meanwhile, Reliance Jio on Friday logged a 12.2 per cent rise in its net profit for the December quarter (Q3) to Rs 5,208 crore. Telco's net profit stood at Rs 4,638 crore in the corresponding period of the previous year, according to an exchange filing.

Jio's revenue from operations increased 10.3 per cent to Rs 25,368 crore in the third quarter against Rs 22,998 crore in the year-ago period. Its revenue from operations climbed 10.3 per cent, snapping five straight quarters of slowing growth.