Reliance Industries Q3 Net profit up 10% at Rs 19,641 crore, consumer business growth support gross revenue

Oil & Gas major, Mukesh Ambani-led Reliance Industries has recorded a positive Q3FY24 performance. The Net Profit has come in at Rs 19,641 crore, up 10% YoY from Rs 17,706 crore in Q3FY23. The gross revenue for Q3 came in at Rs 248,160 crore up 3% YoY from Rs 240,532 crore in the same quarter last fiscal supported by continued growth momentum in consumer businesses. Revenue from Oil & Gas segment increased significantly mainly on account of higher volumespartly offset by lower gas price realisation from KG D6 field.

EBITDA increased by 16.7% Y-o-Y to Rs 44,678 crore ($ 5.4 billion). The key contributors include:

-11.5% Y-o-Y increase in JPL EBITDA with higher revenue and increase in margins.