Reliance reports flat profit in Q3 as weak O2C revenue offset gains at Jio Business News & more related News Here

Reliance reports flat profit in Q3 as weak O2C revenue offset gains at Jio Business News

 & more related News Here

Reliance Industries Ltd barely grew its earnings in the fiscal third quarter as weak oil and gas revenues offset gains in the telecom and retail businesses.

Reliance Industries Chairman Mukesh Ambani. (PTI)
Reliance Industries Chairman Mukesh Ambani. (PTI)

Consolidated net profit of India’s largest company by market capitalization increased 0.56% year-on-year Revenue increased by 10.51% to Rs 18,645 crore 2,69,496 crore, according to exchange filings on Friday. Analysts surveyed by Bloomberg had estimated the bottom line 19,896 crores.

RIL Q3 results (consolidated, year-on-year)

  • Revenue increased by 10.51% 2,69,496 crore (estimate: 2,57,038 crores)
  • EBITDA increased by 5.09% Rs 46,018 crore (estimate: 47,997 crores)
  • EBITDA margin declined 88 bps to 17.07% (estimate: 18.7%)
  • Net profit increased by 0.56% Rs 18,645 crore (estimate: 19,896 crores)

One basis point is one hundredth of one percentage point.

RIL shares fell 0.06% on Friday 1457.60 per share on the BSE, while the benchmark Sensex closed 0.23% higher at 83,570.35 points. Quarterly results were announced after market close.

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