Reliance Industries Q4 Report: Net Profit Rises To 19,299 Crore INR Reliance Industries Ltd has seen its consolidated net profit for the March quarter rise 19 per cent year-on-year to 19,299 crore INR.
By Entrepreneur Staff •
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Reliance Industries Ltd has seen its consolidated net profit for the March quarter rise 19 per cent year-on-year to 19,299 crore INR. Its revenue has gone up 2.1 per cent to 2.2-lakh-crore INR, due to a rise in the retail and digital service sector.
The downstream oils-to-chemicals (O2C) business saw a drop of 11.8 per cent in revenue to 1.3 lakh crore INR. Usually the company gets over 60 per cent of the revenue from the O2C segment, but this time the share has gone below 60 per cent, which indicates that the others sectors have got increased share this time.
According to the company, the fall in the share of O2C business took place due to a steep fall in crude oil prices and lower price realisation on downstream products.
The earnings before interest, tax, depreciation, and amortisation was 38,440 crore INR, an increase from last years' 31,366 crore INR. On the other hand, the EBITDA margin expanded 297 basis points to 17.77 per cent.
This rise was due to a number of reasons, such as sourcing benefits in the retail segment, more revenue from the digital services department along with improved gas price realisation and increased volumes in the oil and gas sector. In the O2C business, the EBITDA rose 14.4 per cent, touching 16,293 crore INR.
For the year, there was a 9.8 per cent rise in net profit to 66,702 crore INR, with the revenue growing to 8.9 lakh crore INR.
With Jio Platforms, the company's wireless services have expanded to more than 2,300 cities and towns. Reliance Retail on the other hand has added 3,300 stores 65.6 million square feet of total retail space. The digital and new commerce businesses contributed 18 per cent to the total revenue of the retail arm.
Overall, the company spent $5.4 billion in Q4 FY23 and $17.3 billion in the entire year, while the year ended with a net debt of $13.4 billion.
