1. Reliance Industries Q3 result: Gross revenue jumps 3.2% YoY, Profit after tax rises 10.9% YoY

Reliance Industries Q3 result: Gross revenue jumps 3.2% YoY, Profit after tax rises 10.9% YoY

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1 min read • Updated: January 19, 2024, 6:58 PM

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Summary

India's most valued company, Reliance Industries posted over 3% rise in revenue from operations at ₹2.48 lakh crore from year-ago period

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Reliance Q3 net profit rises 11% to ₹19,641 crore

Reliance Industries, India's most valuable company, reported gross revenue of ₹2.48 lakh crore, up 3.2% Y-o-Y, supported by continued growth momentum in consumer businesses. Meanwhile, its profit after tax improved by 10.9% Y-o-Y at ₹19,641 crore.

Mukesh Ambani-led conglomerate reported EBITDA of ₹44,678 crore, an increase of 16.7% Y-o-Y, while EBITDA margin was at 18%, an improvement of 210 basis points.

Segment-wise, the Jio Platform reported an 11.4% YoY increase in revenue led by robust subscriber growth across mobility and homes and the benefit of mix improvement in ARPU. Reliance Jio Average revenue per user (ARPU) improved by 2% YoY to ₹181.7 per subscriber per month.

Revenue for Reliance Retail Ventures grew by 22.8% YoY led by strong growth in consumption across key categories like Grocery, Fashion & Lifestyle and Consumer Electronics businesses.

Oil-to-Chemical revenue declined by 2.4% primarily on account of lower price realisation, led by 5.3% YoY decline in average Brent crude oil prices. Meanwhile, revenue from Oil & Gas segment increased significantly mainly on account of higher volumes partly offset by lower gas price realisation from KG D6 field.