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Business News/ Companies / Company Results/ Reliance Q3 Results Highlights: Net profit up 11% to ₹19,641 crore; O2C revenue down, retail, telecom arms thrive

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Reliance Q3 Results Highlights: Net profit up 11% to ₹19,641 crore; O2C revenue down, retail, telecom arms thrive

1 min read . Updated: 19 Jan 2024, 09:24 PM IST

Ankit Gohel, Nikita Prasad

Reliance Q3 Results Highlights: On the operations front, the company's earnings before interest, taxes, depreciation, and amortization (EBITDA) in the December quarter rose 17 per cent to ₹44,678 crore, driven by retail and oil & gas segments.

Reliance Q3 Results Live Updates: Reliance Retail EBITDA in Q3FY24 is likely to remain strong, up 31% YoY and 9% QoQ, on higher footfalls, while Reliance Jio’s EBITDA is likely to surge 13% YoY and 5% QoQ on a high subscriber base (Photo: REUTERS) — Reliance Q3 Results Live Updates: Reliance Retail EBITDA in Q3FY24 is likely to remain strong, up 31% YoY and 9% QoQ, on higher footfalls, while Reliance Jio’s EBITDA is likely to surge 13% YoY and 5% QoQ on a high subscriber base **(Photo: REUTERS)**

Reliance Q3 Results Highlights: Reliance Industries Ltd (RIL) announced its October-December quarter results for fiscal 2023-24 (Q3FY24), reporting a rise of 11 per cent in net profit at ₹19,641 crore, compared to ₹17,706 crore in the year-ago period.

Billionaire Mukesh Ambani-led energy-to-telecom conglomerate's gross revenue in the third quarter of current fiscal rose 3.2 per cent year-on-year (YoY) to ₹2,48,160 crore led by continued growth momentum in consumer businesses.

The gross revenue was largely led by retail, oil & gas segments, while the oil-to-chemicals (O2C) arm's revenue declined on on account of lower price realisation led by 5.3 per cent YoY decline in average brent crude oil prices.

On the operations front, the company's earnings before interest, taxes, depreciation, and amortization (EBITDA) in the December quarter rose 17 per cent to ₹44,678 crore, driven by retail and oil & gas segments. Brokerages had expected to report a decent set of numbers for the third quarter of FY24, driven by higher utilisation of refineries sustaining their strong operating efficiency.

Stay tuned to our Reliance Industries Q3 results live blog for the latest updates.

19 Jan 2024, 09:40:35 AM IST

Reliance Q3 Results Live: RIL may report a 10.6% YoY increase in net sales: Motilal Oswal

According to the estimates of Motilal Oswal Financial Services, RIL may report a 10.6% YoY increase in net sales while adjusted PAT may rise 11.6% YoY for Q3FY24. The brokerage firm expects RIL's consolidated EBITDA may remain flat QoQ at ₹41,100 crore. O2C segment EBITDA is estimated at ₹16,800 crore, up 40% YoY and up 3% QoQ. Motilal Oswal underscored that further clarity on the ₹75,000 crore announcements in the new energy business, growth in retail store additions, and any pricing action in telecom are the key monitorable.

19 Jan 2024, 09:23:01 AM IST

Reliance Q3 Results Live: RIL shares open higher ahead of Q3 results

Reliance Industries share price opened over half a percent higher on Friday ahead of the announcement of Q3 results today. Reliance shares opened at ₹2,753.00 apiece on the BSE as against previous close of ₹2,734.90.

19 Jan 2024, 09:10:47 AM IST

Reliance Q3 Results Live: RIL, HUL, Hindustan Zinc, Paytm, others to announce Q3 results today

Since the start of the Q3 results season last week with the announcement of the Q3 scorescards by four IT heavyweights, investors have been eagerly looking forward to Reliance Industries' (RIL) Q3 earnings today. Today, apart from Reliance Industries Ltd, a handful of companies will be releasing their Q3 results, including Atul Ltd, Central Bank of India, CESC Ltd, Colab Cloud Platforms Ltd, CreditAccess Grameen Ltd, Futuristic Solutions Ltd, Global Infratech & Finance Ltd, Gujarat Lease Financing Ltd, Hindustan Unilever Ltd (HUL), Hindustan Zinc Ltd, HT Media Ltd, One 97 Communications Ltd (Paytm), RBL Bank Ltd, among others.

19 Jan 2024, 08:56:25 AM IST

Reliance Q3 Results Live: Revenue growth will be led by consumer business

Reliance’s revenue growth will be led by its consumer business, especially digital services and retail business whereas refining and petrochemical business will report lower growth in Q3FY24, said Rajesh Sinha, Senior Research Analyst at Bonanza Portfolio. He expects RIL's exploration and production (E&P) business to deliver positive performance. However, the O2C business may witness a decline on account of product cracks and lower realisations.

Sinha said EBITDA of RIL is expected to decline marginally on a quarter-on-quarter (QoQ) basis due to moderation in diesel cracks, narrowing of Russian crude discount and lower refining throughput due to maintenance shut-down and continued weakness in petrochemical margin.

19 Jan 2024, 08:40:05 AM IST

Reliance Q3 Results Live: O2C weakness may impact consolidated Ebitda sequentially

The expectations from Reliance Industries' consolidated December quarter performance remains a mixed bag with the Oil to Chemical (O2C) segment likely to see some pressure. The consumer-oriented retail and Jio (telecom segment) may see a steady quarter, and partially offset the weakness in Oil to Chemicals business. The operating performance on sequential basis may see some decline as per analysts estimates, though on year-on-year basis will still be higher. Read here

19 Jan 2024, 08:20:22 AM IST

Reliance Q3 Results Live: RIL Q2 net profit stood at ₹19,878 crore

Reliance Industries, India’s largest company by market capitalisation, reported a 29.7% year-on-year (YoY) rise in its consolidated net profit at ₹19,878 crore for the quarter ended September 2023. The company’s revenue during Q2FY24 stood at ₹2,31,886 crore. At the operational level, EBITDA saw a healthy 30.2% YoY growth to ₹44,867 crore while the EBITDA margin jumped 390 bps YoY to 17.5%.

19 Jan 2024, 08:05:14 AM IST

Reliance Q3 Results Live: Digital, retail business to drive profit, revenue; O2C business may remain under pressure

Reliance Industries (RIL) is set to announce its December quarter (Q3FY24) scorecard on Friday, January 19. The company is expected to report a decent set of numbers for the quarter, mainly due to higher utilisation of refineries sustaining their strong operating efficiency. Read here

19 Jan 2024, 07:49:49 AM IST

Reliance Q3 Results Live: RIL to see decent performance led by Digital services and retail business

Reliance Industries Q3 Results Live: Reliance Industries is expected to report a decent set of numbers for the third quarter of FY24, driven by higher utilisation of refineries sustaining their strong operating efficiency. The digital services and retail business is expected to lead RIL’s growth for the December quarter. However, the performance of the oil-to-chemicals (O2C) business and refining and petrochemical segment may remain subdued.

19 Jan 2024, 07:35:05 AM IST

Reliance Q3 Results Live: RIL to announce Q3 results today

Reliance Industries Q3 Results Live: The energy-to-telecom conglomerate, Reliance Industries Ltd (RIL), is set to announce its earnings for the third quarter of FY24 today, January 19. Reliance Industries Q3 results are expected to be released after market hours on Friday. The meeting of the Board of Directors of Reliance Industries is scheduled to be held on Friday, January 19, 2024, inter alia, to consider and approve the standalone and consolidated unaudited financial results of the company for the quarter and nine months ended December 31, 2023.

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