Reliance Industries Ltd (RIL) reported its Q3 results for 2024 with a significant increase in various financial metrics. Here are the key highlights:
1. Net Profit: RIL’s net profit rose by 11% year-on-year, reaching ₹19,641 crore.
2. Gross Revenue: The gross revenue for the quarter grew by 3.2%, amounting to ₹2,48,160 crore.
3. EBITDA: The EBITDA for the quarter was ₹44,678 crore, a 16.7% increase from the previous year, with the EBITDA margin expanding by 210 basis points to 18%.
4. Segment Performance:
– Reliance Jio’s average revenue per user (ARPU) remained flat at ₹181.70.
– Reliance Retail witnessed a 31.1% increase in EBITDA, driven by record footfalls during the festive season.
– The Oil to Chemicals (O2C) segment experienced a decline in revenue by 2.4%, primarily due to lower price realization and a decrease in average brent crude oil prices.
– Revenue from the Oil & Gas segment saw a significant jump, mainly due to higher volumes, partly offset by lower gas price realization from the KG D6 field.
5. Key Growth Contributors:
– Jio Platforms Limited (JPL) EBITDA increased by 11.5% year-on-year, with higher revenue and margins.
– Reliance Retail’s EBITDA margin improved by 50 basis points to 8.4%, attributed to operating leverage and cost management initiatives.
The effect of Reliance Industries Ltd’s Q3 2024 financial results on its share price would depend on the market’s reaction to these results. Generally, positive financial results, such as increased net profit and revenue, can lead to a rise in the share price as investors gain confidence in the company’s performance and future prospects. Conversely, if the results fall short of market expectations or highlight areas of concern, the share price might experience a decline. As of the most recent update, the share price of Reliance Industries Limited (RELIANCE.NS) on the NSE was ₹2,734.90, experiencing a slight decrease of -0.04% from the previous close. For the latest and most accurate information, it’s advisable to check a reliable financial news source or a stock market update.
