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RIL Q3 results: Net profit slips 15% but tops estimate, revenue up 17%

Crude price volatility weighs on PAT; board clears raising Rs 20K cr via NCDs

Reliance, Reliance Industries
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Viveat Susan Pinto Mumbai
Mukesh Ambani-led Reliance Industries (RIL) on Friday reported a consolidated net profit of Rs 15,792 crore for the quarter ended December 31, 2022 (Q3FY23). This was down nearly 15 per cent year-on-year (YoY) from Rs 18,549 crore, but a tad ahead of expectations.
 
A poll of brokerages by Bloomberg had pegged net profit at Rs 15,611 crore for Q3, implying that analysts factored in a drop in the bottom-line. This was due to volatility in global crude prices during the October-December period, said sector experts.
 
Moreover, interest and depreciation expenses jumped as RIL undertook expansion in its retail and telecom

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First Published: Jan 20 2023 | 7:26 PM IST

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