RIL Q3 Earnings: Net profit comes in at Rs 17,806 crore
Reliance Industries reported a 13 percent rise in consolidated net profit at Rs 17,806 crore for the quarter ended December 31, 2022. The diversified conglomerate had posted a profit of Rs 13,656 crore in the year-ago period.
Revenue from operations in the quarter under review increased 15 percent to Rs 2.2 lakh crore from Rs 1.9 lakh crore in the same period last fiscal.
RIL Q3 earnings LIVE: Reliance to announce quarterly results shortly
Reliance Industries is expected to report double-digit growth in consolidated revenue and EBITDA for the October-December quarter, according to a Moneycontrol poll. Stay tuned for more updates.
RIL Q3 earnings: Reliance Retail expected quarterly performance
Reliance Retail is expected to continue its strong growth show with an improvement in footfalls during the festive season and the benefits of operating leverage. The launch of its FMCG (fast moving consumer goods) brand Independence and the acquisition of Metro Cash and Carry were the two major announcements on the retail front last quarter.
Investors are keenly awaiting clarity on how the retail business is poised for future growth, with analysts expecting 25-30 percent year-on-year growth in the segment’s EBITDA.
RIL Q3 preview: Energy business
“This segment’s earnings would recover QoQ led by lower taxes aiding higher refining margins, though partly offset by lower petchem spreads,” added UBS. Jefferies has pegged this segment’s EBITDA at Rs 12,893 crore.
Elevated middle distillate cracks, higher E&P (exploration & production) profitability on gas price hikes and currency depreciation will also aid earnings recovery, analysts at Kotak Institutional Equities (KIE) noted.
RIL Q3: What brokerages say
While most brokerages expect RIL to report broad-based growth across segments, the retail and Jio verticals’ performances will be watched with particular interest.
“We estimate RIL’s Q3 FY23 consolidated EBITDA to grow 10 percent sequentially, driven by a recovery for the O2C (oil-to-chemical) segment on a low base, strong uptick for upstream and sustained growth across consumer-facing businesses,” analysts at Nomura had noted.
RIL Q3 LIVE: Stock update
Ahead of its earnings announcement, RIL shares closed 1.15 percent lower at Rs 2,442.70 apiece on the BSE. RIL’s scrip hit a 52-week high of Rs 2,855 on April 29, 2022 and 52-week low of Rs 2,181 on March 8, 2022.
Jio Q3 operating margin:
Operating margin increased 50 basis points YoY and 30 basis points QoQ to 26.6 percent. Net profit margin stood at 17.1 percent, up 110 basis points and 10 basis points, respectively.
Jio Q3 results: Revenue rises 19% YoY; EBITDA margin comes in at 52.2% Jio’s revenue from operations came in at Rs 22,998 crore, rising 18.9 percent YoY from Rs 19,347 crore in the corresponding quarter last year.A strong net subscriber addition of 7 million was expected to boost Jio’s EBITDA by 3-4 percent sequentially.The company’s EBITDA came in at Rs 12,009 crore while EBITDA margin was at 52.2 percent. Brokerages had forecast an EBITDA of Rs 12,635 crore for the telecom major.
RIL Q3 earnings LIVE Updates: Reliance Jio net profit up 28% YoY to Rs 4,638 crore
Jio Platforms, the technology and telecom subsidiary of Reliance Industries had reported net profit of Rs 3,615 crore in the same quarter last year.
Its revenue from operations came in at Rs 22,998 crore, rising 18.9 percent YoY from Rs 19,347 crore in the corresponding quarter last year.
RIL Q3 Preview | Revenue set to grow 21%, powered by telecom and retail
Reliance Industries is expected to report double-digit growth in consolidated revenue and EBITDA (earnings before interest, taxes, depreciation and amortisation) for the October-December quarter, according to a Moneycontrol poll.
Net profit is expected to grow 4.4 percent to Rs 16,366 crore from a year earlier and sequentially by 19.7 percent, according to the average of estimates of brokerages polled by Moneycontrol. Revenue is expected to rise 21 percent YoY to Rs 2.23 lakh crore.
RIL Q3 results live updates
-Billionaire Mukesh Ambani-led oil-to-chemicals-to-telecom conglomerate Reliance Industries Limited (RIL) is set to declare its earnings for the third quarter ended December 31, 2022 today.
-RIL had reported a consolidated net profit at Rs 13,656 crore for the second quarter ended September 30, 2022 as against Rs 13,680 crore on a year-on-year basis.