Reliance Industries Q3 Results: Net Profit Jumps 9 Per Cent To Rs 17,265 Crore

Reliance Industries Ltd (RIL) on Friday clocked a 9 per cent rise in its December quarter (Q3) net profit as a planned maintenance-induced weakness in oil business earnings was offset by stability in retail and telecom verticals. The company's net profit of Rs 17,265 crore, or Rs 25.52 per share, in October-December, the third quarter of the current 2023-24 fiscal, was 9.3 per cent higher than Rs 15,792 crore, or Rs 23.19 a share, earning a year back, according to a company's stock exchange filing.

Mukesh Ambani-led RIL's revenue from operations was almost flat at Rs 2.2 lakh crore. Revenue from the oil-to-chemicals unit fell 2.4 per cent, primarily on account of lower price realisation, while planned maintenance and inspection shutdown of units at its Jamnagar refinery complex impacted yields and profitability, Reliance said in a statement.

Shares of Reliance closed at Rs 2,735.05 apiece, up 0.01 per cent, on the BSE on Friday.

Reliance Retail Venture Ltd (RRVL) on Friday posted a 31.87 per cent rise in its net profit to Rs 3,165 crore for the third quarter ended in December 2023. Its revenue from operations surged 23.75 per cent to Rs 74,373 crore in the December quarter of FY24, led by its grocery, fashion & lifestyle and consumer electronics businesses.