Reliance Industries Posts 10.9% Growth In Q3FY’24 Net Profit
In the third quarter of fiscal 2023-24, Reliance Industries Ltd (RIL) reported 10.9 percent year on year growth in net profit to Rs 19,641 crore, boosted by its retail, Jio, oil & gas divisions.
The Mukesh Ambani led company posted consolidated revenues in the October to December quarter at Rs 248,160 crore, up 3.2 percent year over year.
EBITDA in the reporting quarter amounted to Rs 44,678 crore, climbing by 16.7 percent over the same quarter of earlier fiscal.
RIL expanded its consolidated EBITDA margin to 18 percent in the quarter under review, which is 210 basis points over the third quarter of fiscal 2022-23 quarter.
Reliance Retail, the retail arm of RIL posted a record quarterly revenue of Rs 83,063 crore, which translates into a growth of 22.8 percent from a year-ago period.
According to RIL, the retail division revenues were driven by grocery, fashion & lifestyle and consumer electronics businesses.
Reliance Retail expanded its store network by opening 252 new stores, taking the total store count to 18,774.
