Reliance Industries Ltd reports jump in consolidated net profit to Rs. 19299 crores in Q4 FY2023

Reliance Industries Limited has reported Consolidated financial results for the period ended March 31, 2023.

Financial Results (Q4 FY2023) - QoQ Comparison

The company has reported total income of Rs. 219294 crores during the period ended March 31, 2023 as compared to Rs. 223739 crores during the period ended December 31, 2022.

The company has posted net profit / (loss) of Rs. 19299 crores for the period ended March 31, 2023 as against net profit / (loss) of Rs. 15792 crores for the period ended December 31, 2022.

The company has reported EPS of Rs. 28.52 for the period ended March 31, 2023 as compared to Rs. 23.34 for the period ended December 31, 2022.

Financials	Q4 FY2023	Q3 FY2023	% Change
Total Income	₹219294 crs	₹223739 crs	-1.99%
Net Profit	₹19299 crs	₹15792 crs	22.21%
EPS	₹28.52	₹23.34	22.19%

Financial Results (Q4 FY2023) - YoY Comparison

The company has reported total income of Rs.219294 crores during the period ended March 31, 2023 as compared to Rs.214344 crores during the period ended March 31, 2022.

The company has posted net profit / (loss) of Rs.19299 crores for the period ended March 31, 2023 as against net profit / (loss) of Rs.16203 crores for the period ended March 31, 2022.

The company has reported EPS of Rs.28.52 for the period ended March 31, 2023 as compared to Rs.23.95 for the period ended March 31, 2022.

Financials	Q4 FY2023	Q4 FY2022	% Change
Total Income	₹219294 crs	₹214344 crs	2.31%
Net Profit	₹19299 crs	₹16203 crs	19.11%
EPS	₹28.52	₹23.95	19.08%

Financial Results (Year Ended FY2023) - YoY Comparison

The company has reported total income of Rs.904770 crores during the Financial Year ended March 31, 2023 as compared to Rs.736581 crores during the Financial Year ended March 31, 2022.

The company has posted net profit / (loss) of Rs.66702 crores for the Financial Year ended March 31, 2023 as against net profit / (loss) of Rs.60705 crores for the Financial Year ended March 31, 2022.

The company has reported EPS of Rs.98.59 for the Financial Year ended March 31, 2023 as compared to Rs.90.85 for the Financial Year ended March 31, 2022.

Financials	Year Ended FY2023	Year Ended FY2022	% Change
Total Income	₹904770 crs	₹736581 crs	22.83%
Net Profit	₹66702 crs	₹60705 crs	9.88%
EPS	₹98.59	₹90.85	8.52%

Commenting on the results, Mukesh D. Ambani, Chairman and Managing Director, Reliance Industries Limited said: "I am happy to note Reliance's initiatives in digital connectivity and organized retail are driving greater efficiencies in the economy and contributing to India's emergence as one of the fastest growing economies in the world.

Jio continues to digitally empower millions of citizens across the nation, extending True 5G reach to 2,300+ cities and towns in a short span of 6 months. With steady growth in mobility and FTTH subscriber base and an expanding bouquet of content and digital services, the Jio business continues to deliver impressive growth in operating profits.

Retail business registered excellent growth numbers backed by expansion of physical and digital footprint and a significant increase in footfall. We continue to expand our product base across consumption baskets, ensuring our customers get world-class products at affordable prices. Our retail team has an unwavering focus on enhancing consumer experience and ease of shopping.

O2C segment posted its highest-ever operating profit despite global uncertainties and disruptions in commodity trade flows. Our oil and gas segment also delivered very strong growth and is now poised to contribute nearly 30% of India's domestic gas production.

This year we have proposed to demerge our financial services arm and list the new entity "Jio Financial Services Ltd.". This gives our shareholders an opportunity to participate in an exciting new growth platform from inception.

Implementation of our New Energy giga factories at Jamnagar is making significant progress. This puts us on track to achieve our goals of transitioning to cleaner energy and enabling sustainable growth. I believe Reliance's significant investments and strategic partnerships in the renewable energy vertical will help transform the energy landscape of India and the world, in the coming years."

Shares of Reliance Industries Limited was last trading in BSE at Rs. 2348.90 as compared to the previous close of Rs. 2345.70. The total number of shares traded during the day was 99384 in over 10350 trades.

The stock hit an intraday high of Rs. 2360.85 and intraday low of 2338.00. The net turnover during the day was Rs. 233394736.00.

Source : Equity Bulls

Keywords

RelianceIndustries Q4FY23 FY2023 ResultUpdate RIL