Reliance Industries profit up 16% QOQ in Q3FY23

Reliance Industries Ltd has reported Q3FY23 financial results for the period ending December 31, 2022.

Financial Results (Q3 FY2023) – QoQ Comparison

Financials	Q3 FY2023	Q2 FY2023	% Change
Total Income	₹223739 crs	₹236377 crs	-5.35%
Net Profit	₹15792 crs	₹13656 crs	15.64%
EPS	₹23.34	₹20.18	15.66%

Financial Results (Q3 FY2023) – YoY Comparison

Financials	Q3 FY2023	Q3 FY2022	% Change
Total Income	₹223739 crs	₹195318 crs	14.55%
Net Profit	₹15792 crs	₹18549 crs	-14.86%
EPS	₹23.34	₹27.76	-15.92%

JIO

Financials	Q3 FY2023	Q2 FY2023	% Change
Total Income	₹22,998 crs	₹22,521 crs	2.7%
Net Profit	₹4,638 crs	₹4,518 crs	2.1%
EBITDA	₹12,009	₹11,489	4.5%

• Average Revenue Per User (ARPU) at Rs 178.20 Vs Rs 177.20
• Total Subscribers at 432.9 million Vs 427.6 million

Reliance Retail

Reliance Retail sees an increase of more than 8% in EBITDA & over 4% rise in revenue on a sequential basis

Mukesh Ambani Says –

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 02C 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. 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.

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.

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. Our strong balance sheet and robust cash flows remains the cornerstone of our commitment in growing existing businesses as well as investing in new opportunities

Detailed Quarterly Results

Consolidated Figures in Rs. Crores