Last Update: January 20, 2023, 19:44 IST
Reliance Industries’ EBITDA grew 13.5 percent YoY to ₹38,460 crore ($4.6 billion).
RIL Q3: Its net profit was expected to rise 4.4 per cent from a year ago to Rs 16,366 crore, according to an analyst poll conducted by Moneycontrol.
Reliance Industries Limited (RIL) on January 20 said its revenue from operations for the quarter ended December 2022 (Q3FY23) stood at Rs 220,592 crore, up 15.32 per cent against Rs 191,271 crore reported a year ago.
Its consolidated net profit for the quarter was down 13.30 per cent year-on-year (YoY) at Rs 17,806 crore. The company had reported a net profit of Rs 20,539 crore in the same quarter last year.
Its net profit was expected to rise 4.4 per cent from a year earlier to Rs 16,366 crore, according to an analyst survey conducted by Moneycontrol. The revenue was expected to increase by 21 per cent to Rs 2.23 lakh crore.
The company said its EBITDA grew 13.5 percent year-on-year to Rs 38,460 crore ($4.6 billion). Higher value due to strong growth in customer base for its digital business, growth in consumption basket, improvement in middle distillate cracks and higher recoveries with increase in gas prices, and marginally higher volumes in the Oil & Gas segment.
“All segments contributed to the strong growth in consolidated EBITDA on a year-on-year basis,” said Mukesh D. Ambani, Chairman and Managing Director, Reliance Industries. ,
Jio Platforms
Jio Platforms, which is the company’s telecom and digital services subsidiary, reported 28.6 per cent YoY growth in net profit at Rs 4,881 crore. Its revenue from operations was ₹24,892 crore, up 20.9 per cent YoY. EBITDA grew 25.1 percent YoY to ₹12,519 crore.
The revenue growth was driven by steady growth in both the subscriber base and average revenue per user (ARPU) for the Connectivity business. EBITDA increased due to revenue growth and margin improvement, the company said, adding that EBITDA margin increased by 170 basis points due to increase in ARPU and benefit from lower spectrum usage charges.
RIL said net subscriber additions stood at 5.3 million, as gross adds remained strong at 34.2 million in 3Q FY23. ARPU grew 17.5 percent YoY to Rs 178.20 per subscriber per month due to better customer mix. Sequentially, it increased by 0.56 per cent.
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