Reliance Industries Q3 results highlights: Mukesh Ambani-led company's profit up by 9.3%

The profit of Reliance Retail jumped 32% to ₹3,165 crore in the third quarter of 2023-'24. Revenue from operations also rose 24% year-on-year to ₹74,373 crore in the same period.

According to the regulatory filing by Reliance Industries, its revenue from operations in the third quarter was almost flat at ₹2.2 lakh crore.

Reliance Industries, the Mukesh Ambani-led conglomerate, has reported a 9.3% profit to ₹17,265 crore in the third quarter.

Reliance Jio's total expenses for the quarter has increased to ₹18,518 crore from ₹16,839 crore a year ago, and ₹18,063 crore a quarter ago.

As per the latest regulatory filing, Reliance Jio's revenue from operations increased 10.3% on the year to ₹25,368 crore.

Reliance Jio's standalone net profit has risen by 12.2% to ₹5,208 crore in the December quarter, the company's latest filing shows.

Ahead of the Q3 results, the shares of Reliance Industries closed flat at ₹2,735.05 a piece on the BSE.

Reliance's share price has given more than 18% returns in the past three months. In a month, the stock is up by 7%, while it has gained over 10% in one year.

The financial earnings of Jio Financial Services were released earlier this week, reporting a net profit of ₹293 crore. The shares of the company have been trading higher since.

As per top brokerages, it is expected that petroleum and O2C sector will drag down the EBIDTA of the company, with a likely decline of 10 percent in this sector.

It is expected that the Q3 results of Reliance Industries will have no major surprised and steady growth, leading to the share prices to slightly dip.

As the market session advances, the share prices of Reliance Industries saw another dip, falling by 0.46 percent. The RIL share price is ₹2,723.20 at 12:55 pm.

After its recent stock market spike, Reliance Industries became the most valued firm in the country, adding ₹90,220 crore to its market value.

It is expected that Reliance will see a profit growth for the December 2023 quarter, however the growth is likely to be in single digits.

In January 2024, Reliance Industries shares have seen a spike of 7 percent, reaching its lifetime high at ₹2,792.90 earlier this month.

Moneycontrol has predicted that the net profits for RIL in its Q3 results will be estimated at ₹16,625 crore.

According to predictions made by Nuvama Institutional Equities, the Average Revenue Per User (ARPU) for Jio is expected to grow 4 percent YoY for Q3.

It is expected that the surge in the stock market benchmark today will maintain the share prices of Reliance, especially with positive Q3 predictions.

While RIL is expected to see a boost in its quarterly performance, its oil-to-chemical and petroleum business is likely to report subdued profits in December 2023 quarter.

While Reliance shares opened at a slight spike from the previous close, the share prices dipped by 0.40 percent during early trade hours, falling to ₹2,725.05 apiece.

Reliance Industries Limited, Hindustan Unilever Ltd (HUL), Hindustan Zinc Ltd, HT Media Ltd, One 97 Communications Ltd (Paytm), RBL Bank Ltd, and Central Bank of India will be releasing their Q3 results today, among other firms.