RIL Q4 Results Highlights- Reliance Q4 net profit at Rs 19,299 cr beats estimates, supported by growth across biz

RIL Q4 Results Highlights: Reliance Q4 net profit at Rs 19,299 cr beats estimates, supported by growth across biz

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.

Live Updates

Reliance Industries Ltd (RIL) Q4 results Live Friday April 21, 2023

21:41 (IST) 21 Apr 2023 Reliance Retail’s performance across formats and geographies in Q4

Reliance Retail received 219 million footfalls across formats and geographies in the quarter ended March 2023. Digital and new commerce continued to grow and contributed to 17% of revenue. Daily digital commerce orders were up 17% on-year, and merchant partners was up 45% on-year across geographies and consumption baskets.

21:37 (IST) 21 Apr 2023 Steady business growth under Reliance Retail

Reliance Retail recorded gross revenue for the fourth quarter of FY23 at Rs 69,267 crore supported by steady growth across consumption baskets. The grocery business posted 66% growth on-year, fashion & lifestyle showed 19% growth on-year and consumer electronics excluding devices registered growth of 37% on-year.

21:28 (IST) 21 Apr 2023 Jio Platforms Limited records revenue of Rs 25,465 crore in Q4FY23

“Jio has clear leadership in 5G rollout with ~80% share of BTS deployment by the industry. Jio has deployed more than 125K 5G BTS in over 2,300 cities/ towns and is on track to complete pan India 5G rollout by December 2023. This would be the fastest ever 5G rollout for a country of our size, globally,” RIL said in a statement.

21:23 (IST) 21 Apr 2023 RIL’s Oil & Gas business posts revenue at Rs 4,556 crore for Q4FY23

RIL’s Oil & Gas business recorded revenue of Rs 4,556 crore, up 127% on-year for the fourth quarter ended March 2023, EBITDA at Rs 3,801 crore, up 144% on-year. “Higher EBITDA margin was driven by higher gas price and stable production,” the company said.

21:20 (IST) 21 Apr 2023 Demand growth under O2C business during Q4FY23

Domestic oil demand during the fourth quarter was at 56.7 MMT, up 6% on-year, wherein gasoline demand was up 9.8% on-year with strong travel demand, HSD demand was up 6.7% YoY due to normalized economic activities, and domestic ATF demand was up 38% on-year due to higher domestic as well as international traffic. Meanwhile, polymer demand grew by 20% YoY led by PVC with strong demand from infrastructure, packaging, FMCG and farm sector. Polyester demand grew by 9% on-year led by PET with pre-summer stock-up.

21:16 (IST) 21 Apr 2023 RIL’s O2C business reports Q4 revenue at Rs 128,633 crore, down 11.8% on-year

RIL’s O2C business recorded revenue at Rs 128,633 crore for Q4FY23, down 11.8% on-year with moderation of crude prices in 4Q. EBITDA stood at Rs 16,293 crore, with 14.4% Y-o-Y growth. QoQ EBITDA growth was largely led by rebound in downstream chemicals and gasoline cracks.

21:11 (IST) 21 Apr 2023 RIL Result: Reliance records quarterly revenue at Rs 239,082 crore

RIL recorded quarterly revenue at Rs 239,082 crore, up 2.8% on-year, EBITDA at Rs 41,389 crore, up 21.9% YoY, and net profit at Rs 21,327 crore, up 18.3% on-year with higher finance cost and depreciation partially offset by lower tax.

20:56 (IST) 21 Apr 2023 RIL’s O2C business records revenue of Rs 594,649 crore for FY23

RIL’s O2C business recorded revenue of Rs 594,649 crore with higher crude prices, average brent prices up 19% YoY. EBITDA was recorded at Rs 62,075 crore, up 18% on-year. Refining margins were supported by strong global oil demand, however weak global demand weighed on downstream chemical margins. Production meant for sale was at 66.4 MMT, down 2.6% on-year.

20:40 (IST) 21 Apr 2023 Reliance Retail’s retail presence as of March 31, 2023

Reliance Retail took the total number of retail stores in Q4FY23 to 18,040 as against 17,225 stores in the third quarter of FY23. The total area operated by Reliance Retail, as of March 31, 2023, was at 65.6 million sqft as against 60.2 million sqft in the previous quarter of FY23.

20:32 (IST) 21 Apr 2023 Reliance Retail records EBITDA at Rs 4,914 crore for Q4FY23

Reliance Retail recorded EBITDA at Rs 4,914 crore, surpassing the festive quarter, which was up by 33% on-year. EBITDA before Investment Income was at Rs 4,769 crore, registering a growth of 33% on-year.

20:31 (IST) 21 Apr 2023 Reliance Retail posts revenue of Rs 69,267 crore

Reliance Retail recorded revenue of Rs 69,267 crore for Q4FY23, up 19% on-year, led by growth in grocery, consumer electronics and fashion & lifestyle.

20:31 (IST) 21 Apr 2023 Jio committed to drive sustained growth in earning, says Akash Ambani

“Jio has taken formidable strides in pioneering 5G rollout across the country with unmatched speed of execution. Jio remains committed to build a robust digital society with tailormade technology platforms which will drive sustained growth in earning and value for all stakeholders,” said Akash M Ambani, Chairman, Reliance Jio Infocomm Limited.

20:20 (IST) 21 Apr 2023 RIL’s capital expenditure for Q4FY23

RIL reported the capital expenditure for the quarter ended March 31, 2023 at Rs 44,413 crore.

20:20 (IST) 21 Apr 2023 RIL’s finance costs up 63.6% on-year

Reliance Industries' finance costs increased by 63.6% on-year to Rs 5,819 crore in Q4FY23 primarily due to higher interest rates and loan balances.

20:19 (IST) 21 Apr 2023 RIL’s EBITDA increased by 21.8% on-year to Rs 41,389 crore in Q4FY23

This was on account of:

Higher revenue and increase in margins in Digital Services Segment;

Favorable mix, sourcing benefits and operating efficiencies in Retail segment; Higher transportation fuel cracks and optimised feedstock cost partially offset by lower downstream chemical margins in O2C segment;

Better gas price realization and higher volumes in the Oil & Gas segment.

20:17 (IST) 21 Apr 2023 Revenue from Oil & Gas segment in Q4FY23

Revenue from Oil & Gas segment in Q4FY23 doubled on-year on account of higher price realisations. However, this was partially offset by decrease in revenue from O2C business on account of sharp decrease in crude oil prices and lower price realisation on downstream products, RIL said.

20:13 (IST) 21 Apr 2023 Digital services segment, retail segment performance in Q4FY23

Digital Services segment achieved 15.4% on-year growth in gross revenue in Q4Fy23 while Retail segment grew by 19.4% on-year.

20:11 (IST) 21 Apr 2023 RIL beats estimates to record net profit of Rs 19,299 crore in Q4FY23

Bloomberg Consensus estimate was Rs 16493 crore net profit for RIL in Q4FY23; Reliance beat this at Rs 19,299 crore.

20:10 (IST) 21 Apr 2023 RIL Result: Reliance posts gross revenue for Q4FY23 at Rs 239,082 crore

RIL’s gross revenue for Q4FY23 was Rs 239,082 crore, up 2.8% on-year, supported by continuing growth momentum in consumer businesses.

20:05 (IST) 21 Apr 2023 RIL’s O2C segment posts its highest-ever operating profit

“O2C segment posted its highest-ever operating profit despite global uncertainties and disruptions in commodity trade flows. Our oil and gas segment also delivered very strong growth and is now poised to contribute nearly 30% of India’s domestic gas production,” said Mukesh Ambani.

20:03 (IST) 21 Apr 2023 Jio expands to 2,300+ cities and towns in 6 months

“Jio continues to digitally empower millions of citizens across the nation, extending True 5G reach to 2,300+ cities and towns in a short span of 6 months. With steady growth in mobility and FTTH subscriber base and an expanding bouquet of content and digital services, the Jio business continues to deliver impressive growth in operating profits,” said Mukesh D. Ambani, Chairman and Managing Director, Reliance Industries Limited.

20:00 (IST) 21 Apr 2023 Retail business growth backed by expansion of retail presence, product base, says Mukesh Ambani

“Retail business registered excellent growth numbers backed by expansion of physical and digital footprint and a significant increase in footfall. We continue to expand our product base across consumption baskets, ensuring our customers get world-class products at affordable prices. Our retail team has an unwavering focus on enhancing consumer experience and ease of shopping,” said Mukesh D. Ambani, Chairman and Managing Director, Reliance Industries Limited.

19:54 (IST) 21 Apr 2023 RIL Result: Reliance posts revenue of Rs 216,376 crore in Q4FY23

Reliance Industries Ltd posted net profit of Rs 19,299 crore in the fourth quarter of FY23, up 19.1% as against Rs 16,203 crore for the same period last year. RIL recorded revenue of Rs 216,376 crore, up 2.1% as against Rs 211,887 crore in Q4FY22, supported by continuing growth momentum across all businesses.

19:35 (IST) 21 Apr 2023 RIL Q4 Result: Reliance Industries reports net profit of Rs 19,299 crore for Q4FY23

RIL reported net profit of Rs 19,299 crore, up 19.1% from Rs 16,203 crore in Q4FY22.

19:09 (IST) 21 Apr 2023 RIL Q4 Result Today: Mukesh Ambani firm may see muted growth, strong EBITDA jump

Reliance Industries had registered a net profit of Rs 15,792 crore in the third quarter of FY23. According to brokerage firms and analysts, RIL is expected to clock a profit rise in the range of 0.3-7.0 per cent during the fourth quarter. RIL is expected to report a moderate growth in net sales in the range of 3-9.8 per cent for the fiscal fourth quarter ended March 31, 2023 and double-digit growth in EBITDA with estimates going as high as 20 per cent. (Read more on expectations from RIL Q4FY23 results here.)

18:40 (IST) 21 Apr 2023 Reliance Industrial Infrastructure posts 110% rise in net profit in FY2022-23

Earlier on Thursday, Reliance Industrial Infrastructure Limited reported its financial results for the fourth quarter. Its net profit during the quarter was at Rs 1154 lakh, up 983% on-quarter and for the entire year at Rs 1756 lakh, up 110%. Reliance Industrial Infrastructure reported total income during the quarter at Rs 2080 lakh, up 1% on-quarter and stayed steady for the entire financial year at Rs 8093 lakh.

18:24 (IST) 21 Apr 2023 Jio records EBITDA at Rs 12,210 crore, up 15.7% on-year

Jio recorded EBITDA at Rs 12,210 crore in Q4FY23, 15.7% up on-year from Rs 10,554 crore in the same quarter in FY22.

18:16 (IST) 21 Apr 2023 RIL Q4 Result: Jio recorded revenue from operations at Rs 91,373 crore for the year ended March 2023

Revenue from operations:

Year ended 31 March 2023: Rs 91,373 crore

Year ended 31 March 2022: Rs 77,356 crore

18.1% on-year

18:08 (IST) 21 Apr 2023 Reliance Jio margin stayed flat at 52.19%

Reliance Jio’s margin stayed flat at 52.19% in the fourth quarter, in line with the estimated 52.4% by ETNow poll.

18:02 (IST) 21 Apr 2023 RIL Q4 Result: Jio’s net profit rises 13% on-year to Rs 4,716 crore; revenue up 12%

Reliance Jio net profit up 13% on-year against Rs 4,173 crore in the fourth quarter of FY22.

Revenue up 12% on-year in comparison to Rs 20,901 crore in the fourth quarter of FY22.

17:26 (IST) 21 Apr 2023 Reliance Jio’s profit, revenue & EBITDA rise 1.7% each on-quarter basis

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.

17:16 (IST) 21 Apr 2023 Reliance Jio records net profit at Rs 4,716 crore in Q4

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.

16:37 (IST) 21 Apr 2023 RIL’s EPS expected to grow at 13-15% CAGR

“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.

16:36 (IST) 21 Apr 2023 RIL shares end in green

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.

16:34 (IST) 21 Apr 2023 RIL Q4 Result: EBITDA to grow 7%, PAT 5% on-year

“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’.