Reliance Industries results: Reliance Industries (Reliance Industries Ltd) has announced its results. During the quarter ending March 2024, the company’s net profit declined by 1.8 percent to Rs 18,951 crore. But during the entire financial year 2023-24, the consolidated net profit of the company increased by 7.3 percent to Rs 79,020 crore. Meanwhile, Jio Platforms (Reliance Jio)’s annual net profit was more than Rs 20 thousand crores. The board of RIL has also announced to give dividend at the rate of Rs 10 per share to its shareholders.
Consolidated net profit of Reliance Industries Limited (RIL) declined by 1.80 percent year-on-year to Rs 18,951 crore in the March quarter, which was Rs 19,299 crore in the same quarter last year. This performance has been better than the estimates of analysts who were believing that RIL’s profits could decline by 5 to 10 percent. RIL has said that during the March quarter, its consolidated revenue from operations increased by 11.3 percent year-on-year to Rs 2,40,715 crore, which was Rs 2,16,265 crore in the same quarter of the last financial year. Was Rs.
During the March quarter, the company’s Ebitda increased by 14.3 percent year-on-year to Rs 47,150 crore, which was Rs 44,678 crore in the same quarter last year. During the same period, the EBITDA margin of the company also increased by 50 basis points to 17.8 percent, which was 17.3 percent in the same quarter a year ago. The company’s net debt declined to Rs 1,16,281 crore during the March quarter, which was Rs 1,19,372 crore in the December quarter and Rs 1,25,766 crore in the March quarter last year.
Commenting on the company’s results, Reliance Industries CMD Mukesh Ambani said that we are committed to our projects and new initiatives, which also include the new energy segment. He said that this segment will not only strengthen the company’s performance but will also prove helpful in maintaining its growth in future.
(This news is being updated)