RIL Q4 results: Net profit rises 19% to Rs 19,299 cr, beats estimates

Mukesh Ambani-led Reliance Industries (RIL) on Friday reported a consolidated net profit of Rs 19,299 crore for the quarter ended March (Q4FY23). This was up nearly 19 per cent year-on-year (YoY) from Rs 16,203 crore, helped by the performance of its mainstay energy unit. This is the company's highest-ever quarterly net profit.

The net profit of Rs 19,299 crore in January-March 2023 compares to Rs 16,203 crore earning a year back.

RIL’s revenue from operations rose to Rs 2.16 trillion from Rs 2.11 trillion in January-March 2022.

O2C business, which had a great run for two years on higher demand for transportation fuels, was dented by the government's windfall tax on fuel exports. However, the impact has started receding with the government gradually lowering taxes since December. 

On Friday, Reliance Industries jumped 0.14% to Rs 2,348.90 apiece on the BSE. The benchmark Sensex ended 0.04% higher at 59,655.06 points.

Meanwhile, Reliance Jio, the telecom arm of Mukesh Ambani's Reliance Industries Ltd, reported a 13 per cent rise in profit for the fourth quarter ended March 2023, led by the sustained growth in its user base. Its revenue from operations in the reported quarter increased by about 12 per cent to Rs 23,394 crore from Rs 20,945 crore in the March 2022 quarter.

(With input from agencies)