Reliance Industries' Garners Q4 PAT Of ₹19,299 Cr Up By 19% YoY Driven By O2C Biz

The oil-to-telecom empire posts consolidated PAT of ₹19,299 crore, up by 19.11% from ₹16,203 crore in Q4Y22. The growth was at a higher pace by 22.21% from ₹15,792 crore in Q3FY23.

The Mukesh Ambani-backed company also saw an increase of 21.8% YoY in consolidated EBITDA to ₹41,389 crore.

The O2C business reported a record EBITDA of ₹16,293 crore in Q4FY23 surging by 14.4%. However, the segment's revenue dipped by 11.8% YoY to ₹128,633 crore in the quarter.

Mukesh Ambani, Chairman, and Managing Director said, "O2C segment posted its highest-ever operating profit despite global uncertainties and disruptions in commodity trade flows. Our oil and gas segment also delivered very strong growth and is now poised to contribute nearly 30% of India’s domestic gas production."

On the contrary, consolidated revenue stood at ₹211,887 crore up by 2.1% YoY but lower by 1.9% sequentially.

Income from the value of sales and services came in at ₹239,082 crore up by 2.8% YoY aided by continued growth momentum in consumer businesses. Also, digital services and retail segments posted a growth of 15.4% YoY and 19.4% YoY respectively.

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Furthermore, revenue from the oil and gas segment doubled year-on-year driven by higher price realisations. But, the top-line front did face a decrease in revenue from O2C business on account of the sharp decrease in crude oil prices and lower price realisation on downstream products.

Oil & gas segment registered a whopping 126.9% YoY growth in Q4FY23 to ₹4,556 crore, while EBITDA skyrocketed by 144.3% YoY to ₹ 3,801 crore.

In Q4FY23, Reliance Retail posts highest ever footfall of 219 million across formats, while adding 966 stories. The company saw 19.4% YoY growth in revenue, while EBITDA and net profit climbed by 33.1% YoY and 12.9% YoY respectively.

Telecom arm Reliance Jio eported single-digit growth sequentially in the fourth quarter of FY23. The company garnered a consolidated net profit of ₹4,716 crore in Q4FY23, registering 1.7% QoQ and 13.01% YoY growth. Jio also saw a 1.7% growth sequentially in revenue from operations to ₹23,394 crore in Q4FY23 compared to ₹22,998 crore in Q3 of the same fiscal, but growth was higher by 11.9% YoY.

Reliance is making significant progress in the implementation of its New Energy giga factories at Jamnagar.

Ambani said, "This puts us on track to achieve our goals of transitioning to cleaner energy and enabling sustainable growth. I believe Reliance’s significant investments and strategic partnerships in the renewable energy vertical will help transform the energy landscape of India and the world, in the coming years."

Also, this year, Reliance has proposed to demerge its financial services arm and list the new entity “Jio Financial Services", to which Ambani said, "this gives our shareholders an opportunity to participate in an exciting new growth platform from inception."

On BSE, RIL's share price ended in the green ahead of Q4 numbers. The stock closed at ₹2,348.90 apiece up by ₹3.20 or 0.14% on BSE.