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

FinancialsQ3 FY2023Q2 FY2023% Change
Total Income₹223739 crs₹236377 crsUp Tick / Down Tick-5.35%
Net Profit₹15792 crs₹13656 crsUp Tick / Down Tick15.64%
EPS₹23.34₹20.18Up Tick / Down Tick15.66%

Financial Results (Q3 FY2023) – YoY Comparison

FinancialsQ3 FY2023Q3 FY2022% Change
Total Income₹223739 crs₹195318 crsUp Tick / Down Tick14.55%
Net Profit₹15792 crs₹18549 crsUp Tick / Down Tick-14.86%
EPS₹23.34₹27.76Up Tick / Down Tick-15.92%

JIO

FinancialsQ3 FY2023Q2 FY2023% Change
Total Income₹22,998 crs₹22,521 crsUp Tick / Down Tick2.7%
Net Profit₹4,638 crs₹4,518 crsUp Tick / Down Tick2.1%
EBITDA₹12,009₹11,489Up Tick / Down Tick4.5%

• 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

FinancialsQ3 FY2023Q2 FY2023Q3 FY2022
Total Income₹67634 crs₹64936 crs57717%
EBITDA₹4786 crs₹4414 crs3835%
MARGIN7.1%6.8%6.6%

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

Dec 2021Sep 2022Dec 2022
Sales185,027230,055217,164
Expenses155,321198,906181,917
Operating Profit29,70631,14935,247
OPM %16%14%16%
Other Income7,0163,5143,213
Interest3,8124,5545,201
Depreciation7,6839,73010,187
Profit before tax25,22720,37923,072
Tax %19%24%23%
Net Profit20,53915,51217,806
EPS in Rs27.4220.1923.34
65

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