India’s multinational conglomerate Reliance Industries Limited (RIL) will announce its third-quarter results on 19 January. In a regulatory filing, the company informed that a presentation to analysts and media on the financial results ending 31 December 2023 will be made on the same day after the board’s meeting.
“We wish to inform you that pursuant to Regulation 29 and other applicable provisions of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“Listing Regulations”), a meeting of the Board of Directors of the Company is scheduled to be held on Friday, January 19, 2024, inter alia, to consider and approve the standalone and consolidated unaudited financial results of the Company for the quarter and nine months ended December 31, 2023,” RIL said in a regulatory filing.
“A presentation to analysts and media on financial results of the Company for the quarter and nine months ended December 31, 2023, shall be made on the same day after the meeting,” it added.
The Q3 results will come as the shares of the company recently touched a new 52-week high of ₹2,658.95 on the BSE. The shares witnessed a fresh rally after Chairman Mukesh Ambani unveiled plans for the commissioning of the Mukesh Ambani Dhirubhai Ambani Green Energy Giga Complex in Jamnagar, expected to take place in the latter half of 2024.
Encompassing an expansive 5,000 acres, this endeavor is projected to create a significant number of eco-friendly employment opportunities, foster the manufacturing of environmentally sustainable products and materials, and establish Gujarat as a key player in the export of sustainable goods.
27% rise in net profit during the second quarter
Reliance Industries Limited recorded a 27% rise in its net profit for the quarter ending September 2023. The company’s profit after tax (PAT) jumped to ₹17,394 crore, compared to ₹13,656 crore in the corresponding period last year.
The surge in the conglomerate’s net profit can be attributed to increased EBITDA and a more robust retail sector. During the September quarter, Reliance Retail observed a notable 21 percent growth in net profit, amounting to ₹2,790 crore. Conversely, the telecom division experienced its least significant profit uptick in seven quarters, primarily due to elevated expenses.
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Published: 12 Jan 2024, 07:35 PM IST