RIL Q3 earnings: What should investors do after a decent third quarter?
During Q3FY23, RIL garnered a consolidated net profit of ₹15,792 crore declining by 14.8% from ₹18,549 crore a year ago same period. However, revenue from operations climbed by 15% to ₹2.20 lakh crore in Q3 of the current fiscal versus ₹1.91 lakh crore in the same period last year.
Billionaire Mukesh Ambani's Reliance Industries (RIL) posted decent December 2022 quarterly earnings. While the largest Indian company in terms of market share beats street estimates in terms of revenue along with EBITDA which was in line, RIL however performed lower than expectations in terms of profitability. Higher finance and depreciation charges dragged profits on a consolidated front during Q3FY23. RIL stock will be in focus next week post-Q3.
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