RIL Q4 Results 2023 Highlights:
Reliance Industries Ltd’s fiscal fourth quarter net profit at Rs 19,299 crore jumped 19.1% on-year, beating estimates of most analysts, who forecasted a muted net profit and sales growth for the company. RIL revenue for January-March quarter rose 2.1% on-year, to Rs 2.16 lakh crore. Earlier today, Reliance Jio reported Q4FY23 net profit at Rs 4,716 crore, up 1.7 per cent on-quarter ahead of Reliance Industries Ltd’s consolidated Q4 earnings. Oil-to-telecom conglomerate Reliance Industries was expected to report muted net profit and revenue figures due to the impact of a windfall tax, but robust EBITDA growth on account of healthy refining margins.
Reliance Industries Ltd (RIL) Q4 results Live Friday April 21, 2023
Reliance Jio registered revenue of Rs 23,394 crore in the fourth quarter of FY23 as against Rs 22,998 crore in the previous quarter. EBITDA at Rs 12,210 crore in comparison to Rs 12,009 crore in the quarter ended December 2022.
Reliance Jio records net profit at Rs 4,716 crore as against Rs 4,638 crore in the previous quarter and Rs 4,173 crore in the fourth quarter of the previous year.
“We expect RIL’s 4QFY23 EBITDA to rise 4.3 per cent QoQ to Rs 368 billion due to robust growth in O2C, digital and retail businesses. While we expect RIL’s EPS to grow at a strong 13-15 per cent CAGR over the next 3-5 years given its industry leading capabilities across businesses,” said JM Financial Institutional Securities Limited.
Reliance Industries shares rose 0.14% to close at Rs 2348.9 on Friday ahead of the Q4 results announcement. Meanwhile, the NSE Nifty 50 settled at 17,624.05 and BSE Sensex rose 22.71 points or 0.04% to 59,655.06.
“We expect RIL’s consolidated EBITDA to grow 7 per cent QoQ and PAT 5 per cent QoQ, with higher depreciation and higher interest costs offsetting the operating earnings to some extent,” said ICICI Securities. In terms of different business verticals, RIL’s O2C, digital and retail businesses are expected to witness a ‘robust growth’.