- 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 Information | Description |
|---|---|
| Company | Reliance Industries |
| Q4FY23 Results | Consolidated revenue: Rs 2.13 lakh crore (2.8% increase YoY) |
| Net Profit | Rs 19,299 crore (19% increase YoY) |
| Reliance Retail | Net profit: Rs 2415 crore (12.9% increase YoY), gross revenue: Rs 69,267 crore (19.4% increase YoY), store footfalls: 219 million |
| O2C | Revenue: Rs 1,28,633 crore (11.8% decrease YoY), EBITDA: Rs 16,293 crore (14.4% increase YoY) |
| Oil & Gas | Revenue: Rs 4,556 crore (more than doubled YoY) |
| Jio Platforms | Net profit: Rs 19,124 crore (23.5% increase YoY), revenue from operations: Rs 98,099 crore (20.2% increase YoY) |
| Management Speak | Executives 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
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
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.