Reliance Industries Q4FY23 Results: Strong Growth Across Business Verticals

  • Consolidated revenue from operations in Q4FY23 rose 2.8% YoY
  • Reliance Retail clocked a 12.9% YoY jump in net profit
  • Jio Platforms reported a 23.5% YoY growth in net profit

The largest conglomerate in India, Reliance Industries, presented its Q4FY23 Results, which showed increases in revenue and net profit. Since the Reliance stock has the largest weighting in the Nifty 50 index and any changes in its price immediately impact the index, the results were highly anticipated.

Summary Table

Key InformationDescription
CompanyReliance Industries
Q4FY23 ResultsConsolidated revenue: Rs 2.13 lakh crore (2.8% increase YoY)
Net ProfitRs 19,299 crore (19% increase YoY)
Reliance RetailNet profit: Rs 2415 crore (12.9% increase YoY), gross revenue: Rs 69,267 crore (19.4% increase YoY), store footfalls: 219 million
O2CRevenue: Rs 1,28,633 crore (11.8% decrease YoY), EBITDA: Rs 16,293 crore (14.4% increase YoY)
Oil & GasRevenue: Rs 4,556 crore (more than doubled YoY)
Jio PlatformsNet profit: Rs 19,124 crore (23.5% increase YoY), revenue from operations: Rs 98,099 crore (20.2% increase YoY)
Management SpeakExecutives praise growth and customer-centric approach, Chairman discusses renewable energy and financial services demerger

Earnings and Profit

Comparing Q4FY23 to Q4FY22, the combined revenue from operations increased by 2.8% YoY to Rs 2.13 lakh crore. In Q4FY23, the combined net profit was Rs 19,299 crore, up 19% year over year.

Reliance Retail

Reliance Industries Q4FY23 Results: Strong Growth Across Business Verticals

The retail division of Reliance Industries, Reliance Retail, also had a successful quarter, with net profit rising 12.9% YoY to Rs 2415 crore. Gross sales were Rs 69,267 crore, up 19.4% year over year from Rs 58,017 crore in Q4FY22. Reliance Retail recorded its highest-ever store foot traffic of 219 million, up from 201 million in Q3FY23.

Vertical O2C

Revenue for the O2C (Oils to Chemicals) sector fell 11.8% YoY to Rs 1,28,633 crore. The value of exports reduced by 0.4% to Rs 78,851 crore. EBITDA, increased by 14.4% to Rs 16,293 crore.

Oil and gas.

In Q4FY23, compared to Q4FY22, oil and gas revenue more than doubled to Rs 4,556 crore, thanks to greater price realisation and a 13% rise in KGD6 gas output.

Jio Reports are Amazing

Reliance Jio

Jio Reported a 23.5% YoY increase in net profit to Rs 19,124 crore for FY23, while operating revenue increased by 20.2% to Rs 98,099 crore.

Isha Ambani, the executive director of Reliance Retail Ventures, stated that “Reliance Retail continues the path of registering industry-leading growth year after year at a scale unmatched in India.” “Jio remains committed to building a robust digital society with tailored technology platforms that will drive sustained growth in earnings and value for all stakeholders,” said Akash Ambani, chairman of Reliance Jio Infocomm. According to Mukesh Ambani, Chairman and Managing Director of RIL, “I believe Reliance’s significant investments and strategic partnerships in the renewable energy vertical will help transform the energy landscape of…”

Finally, Reliance Industries’ Q4FY23 statistics demonstrate growth in revenue and net profit, which is primarily attributable to the successful operations of Reliance Retail and Jio Platforms. The management of the company is upbeat about the future despite the decline in O2C revenue because Reliance is projected to reshape the energy landscape through large investments and strategic alliances in the renewable energy sector.