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Reliance Industries Q3 results preview: Kotak Institutional Equities sees profit rising 3 per cent YoY to Rs 16,217 crore on 8 per cent rise in sales at Rs 2,34,641 crore.
RIL reported a 9.3% YoY growth in consolidated net profit to Rs 17,265 crore, beating the estimate of Rs 16,944 crore. Consolidated revenue from operations grew 3.6% YoY to Rs 2.28 lakh crore, but was a tad lower than the estimated Rs 2.36 lakh crore.
Reliance Jio Q3 Results: Reliance Industries' telecom venture, Jio, recently released its financial results for the third quarter of December 2023. The company reported a noteworthy 12.3% year-on-year increase in net profit, amounting to Rs 5,208 crore. This surge marks a significant turnaround after four consecutive quarters of slower growth. Jio credited this achievement to the rising number of subscribers and the popularity of its affordable 4G phone.
Billionaire Mukesh Ambani's Reliance Industries on Friday reported 15 per cent drop in net profit to ₹15,792 crore for December 2022 quarter as higher finance costs, the new windfall profit tax and depreciation neutralised strong operating performance.
RIL's revenue from operations has come in at Rs 191,271 crore from Rs 123,997 crore in the same quarter last fiscal.