Reliance Industries Q4 FY23 results: Revenue grew by 2.8% YoY to ₹ 239082 cr; Net profit increased by 18.3% to ₹ 21327 cr

Reliance Industries on Friday released its January-March quarter i.e. Q4 FY23 results. Reliance Industries’ Q4 revenue and net profit beat market estimates. The consolidated revenue of Reliance Industries grew by 2.8% YoY to ₹ 2,39,082 crore in Q4 FY23, while the company’s net profit grew by 18.3% to ₹ 21,327 crore.

Reliance Smart Mall in Mumbai, India
Reliance Smart Mall (Image: Meel Bijendra/Agrika)

Reliance Jio’s ARPU (average revenue per user) in the Telecom business grew by 6.7% YoY to ₹ 178.8 in Q4 FY23. Due to this, Reliance Industries registered gross revenue of ₹ 29,871 crore with a year-on-year growth of 14.3% in the telecom segment.

Reliance Industries said that “Reliance Jio’s 5G internet service has so far been available in 2300 cities and towns and by December 2023, the company will roll out its 5G service across India.”

Read Also: Reliance to demerge fin services arm and list Jio Financial Services on exchanges, RIL shareholders to get 1:1 shares

Reliance Industries reported a revenue of ₹ 69,288 crore in Q4 FY23 from the retail segment, which includes consumer retail and related services categories.

Oil-to-Chemicals (O2C) business segment

Reliance Industries’ revenue from the Oil-to-Chemicals (O2C) business segment declined 11% in Q4 FY23 due to sharp crude oil production. The company’s revenue from the Oil-to-Chemicals (O2C) business segment declined 11.1% Q-o-Q to ₹ 1,28,633 crore in Q4FY23, registering a decline of 11.8% YoY.

Reliance Industries’ revenue from Oil and Gas in Q4 FY23 stood at ₹ 4,556 crore as compared to ₹ 2,008 crores in the same quarter last year.

Reliance Industries’ EBITDA in the Oil-to-Chemicals (O2C) business segment grew 17% QoQ to ₹ 16,293 crore in Q4 FY23. Reliance Industries reported a Profit After Tax of ₹ 21,327 Crore in Q4 FY23 as against ₹ 18,021 Crore in the same quarter last year.

Read Also: Eicher Motors to buy 10.35% stake in Stark Future SL by investing €50 million: Electric Mobility