RIL net profit rises 19% to Rs 19,299 crore in Q4 to highest ever
Boosted by a decline in raw material costs and big savings on tax expenses, Reliance Industries (RIL) reported a higher than expected net profit during the January-March 2023 quarter (Q4FY23) despite muted growth in revenues during the quarter.
The company reported its highest ever consolidated net profit of Rs 19,299 crore in the quarter, up 19.1 per cent year-on-year (YoY) from Rs 16,203 crore in the fourth quarter of FY22. Net profit was up 22.2 per cent sequentially from Rs 15,792 crore in Q3FY23. Analysts expected the company to report a consolidated net profit of Rs 17,850 crore.
