Reliance gains 2% post September quarter results; brokerages remain upbeat

EBITDA increased by 30.2 per cent YoY to Rs 44,867 crore, on account of strong net subscriber addition and sharp increase in data traffic supported 80 bps margin improvements in Jio Platforms (JPL).

Shares of Reliance Industries (RIL) traded 2 per cent higher at Rs 2,310.10 on the BSE in Monday’s intra-day trade in an otherwise volatile market after the company reported a 27.4 per cent year-on-year (YoY) growth in its consolidated net profit at Rs 17,394 crore for the September quarter (Q2FY24). Mukesh Ambani-led RIL announced its quarterly results on Friday after market hours. In comparison, the S&P BSE Sensex was up 0.09 per cent at 63,841 at 10:31 AM.

While revenue growth of the company was flattish YoY at Rs 2.32 trillion, the profit rose on the back