Reliance Q3 results: Net profit rises 9% to ₹17,265 crore - Hindustan Times

Reliance Q3 results: Net profit rises 9% to 17,265 crore

Jan 19, 2024 06:29 PM IST

Reliance Q3 results: Reliance Industries Q3 net profit up 9% boosted by retail and telecom sectors

Reliance Q3 results: Reliance Industries Ltd on Friday reported a 9 per cent rise in its December quarter net profit, getting a boost from retail and telecom verticals.

Reliance Industries Chairman, and Managing Director Mukesh Ambani.(ANI)
Reliance Industries Chairman, and Managing Director Mukesh Ambani.(ANI)

Net profit of 17,265 crore in October-December - the third quarter of the current 2023-24 fiscal - was 9.3 per cent higher than 15,792 crore a year back, according to a company's stock exchange filing.

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The Mukesh Ambani-led conglomerate said its consolidated revenue rose 3.2 per cent to 248,160 crore. Capital Expenditure for the quarter that ended in December 2023, was 30,102 crore with investments in pan-India 5G roll-out, expansion of retail infrastructure and new energy business. This excludes the amount incurred towards spectrum and adjusted for capital advances and regrouping of assets.

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Revenue from the company's 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.

"Reliance has delivered yet another quarter of robust operating and financial performance, thanks to the exceptional efforts put in by teams across its businesses," said Mukesh Ambani, chairperson and managing director, Reliance Industries.

(Inputs from wires)

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