RIL reports consolidated net profit of Rs 17,806 crore

Mumbai: Reliance Industries Ltd. posted a net profit of Rs 20,539 crore in the 3rd Qr. for the financial year.
Revenue from operations in the quarter stood at Rs 2.2 lakh crore as against Rs 1.9 lakh crore reported in the same period last fiscal.
The company’s earnings before interest, taxes, depreciation and amortization (EBITDA) for the period stood at Rs 38,460 crore, the company said in a regulatory filing.
Commenting on the results, Mukesh Ambani, Chairman and Managing Director, Reliance Industries Limited said, “Our teams across businesses have done an excellent job in delivering strong operating performance through a challenging environment. All segments contributed to the robust growth in consolidated EBITDA on YoY basis.
“In O2C business, middle distillate product fundamentals remain strong with firm demand, constrained supply, and high natural gas prices in Europe. Downstream chemical products witnessed margin pressure with excess supply and relatively weak regional demand. Our focus remains on operating safely and reliably producing vital fuel and materials for consumers,” he said.
“Jio delivered record revenues and EBITDA driven by strong momentum in customer growth and data consumption. This quarter we launched True 5G services. It is now available in 134 cities and towns in India, enhancing customer experience while enabling next generation services. It is heartening that customers recognize the great value and world class connectivity that Jio offers on its 4G and 5G networks,” he said.
“Retail business had another quarter of strong progress with more Indians choosing to shop at Reliance Retail stores. We are focused on delivering superior products and value to customers while improving profitability. Our upstream business delivered robust growth with sustained production from KG D6 block along with higher realization.
“We are on track to reach 30 MMSCMD of gas production in FY 24 after the commissioning of MJ field. This will significantly enhance India’s energy security in a volatile energy market environment. We are making rapid progress towards implementation of new energy Giga factories at Jamnagar as part of our commitment to revolutionizing the green energy sector,” Ambani said.
“Our strong balance sheet and robust cash flows remains the cornerstone of our commitment to growing existing businesses as well as investing in new opportunities.