April 23, 2023
New Delhi, India
RIL Q4 Results
Reliance Industries Limited (RIL), led by Mukesh Ambani, released its fourth-quarter financial results, revealing a slight decline in net profit but a significant rise in revenue, marking a historic milestone for the conglomerate.
Financial Performance:
- Net profit for Q4 declined by 1.8% YoY to ₹18,951 crore, while revenue surged by 11% to ₹240,715 crore.
- Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) grew by 16.1% YoY to ₹178,677 crore, reflecting robust operational performance.
Key Highlights:
- RIL’s Q4 results, announced on April 22, indicate a decrease in net profit despite a substantial increase in revenue.
- The company achieved a landmark by surpassing ₹1 lakh crore in pre-tax profits, setting a new standard for Indian corporations.
- Annual net profit for the fiscal year saw a 7% increase to ₹79,020 crore, while consolidated revenue exceeded ₹10 lakh crore, primarily driven by growth in consumer and upstream businesses.
Significance and Outlook:
- Despite the dip in net profit for Q4, RIL’s strong revenue growth and milestone achievements underscore its resilience and strategic focus on diversification and expansion.
- The company’s performance in the consumer and upstream sectors bodes well for its future prospects and reinforces its position as a key player in India’s corporate landscape.
Bottom Line:
Reliance Industries’ fourth-quarter results showcase a mixed financial performance, with revenue reaching record levels despite a slight decline in net profit. The company’s strategic initiatives and robust business model position it for continued growth and leadership in the Indian market.
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