Reliance Industries, Jio, and Retail's Q3 results out: Details here
Reliance Jio, a telecom subsidiary of Mukesh Ambani's Reliance Industries, has announced its results for the quarter ending December 2023. It has witnessed a 3% quarter-on-quarter (QoQ) increase in its standalone net profit for the previous quarter. The profit reached Rs. 5,208 crore, up from Rs. 5,058 crore in Q2 FY24. Additionally, the company experienced a 2.5% revenue growth during the same period.
Revenue from operations rises to Rs. 25,368 crore
For the quarter ending December 2023, Reliance Jio's revenue from operations stood at Rs. 25,368 crore. This marks a 2.5% increase from Rs. 24,750 crore in Q2 FY24. On a year-on-year (YoY) basis, the telecom giant reported a significant 12.3% jump in standalone net profit for the quarter ending December last year, up from Rs. 4,638 crore in Q3 FY23.
What about Reliance Industries Limited?
Reliance Industries Limited also reported its Q3 FY24 results today. Its net profit is up 9.3% to Rs. 17,265 crore, while gross revenue climbed to Rs. 2,48,160 crore (up 3.2% YoY). The firm's quarterly EBITDA stood at Rs. 44,678 crore, up 16.7% YoY. Its consolidated net profit stood at Rs. 19,641 crore, which is up 10.9% YoY.
Reliance Retail saw 32% YoY growth in net profit
Finally, Reliance Retail's net profit in the quarter ending December last year stood at Rs. 3,165 crore. This is up 32% compared to Rs. 2,400 crore in the year-ago quarter. While the EBITDA margin from operations rose 8.1% YoY, revenue from operations climbed 24 YoY to Rs. 74,373 crore. The firm posted an EBITDA of Rs. 6,258 crore, which is 31% YoY.
