Net profit for the March quarter rose to ₹21,327 crore from ₹18,021 crore in the year earlier. That beat quarterly profit estimates of ₹16,442 crore, according to a Bloomberg survey of analysts. Revenue rose 3.8% to ₹2.2 trillion.
Reliance Industries’ earnings were primarily boosted by its oil-to-chemical (O2C) business, which reported a sharp increase in profitability as India sourced cheaper Russian crude. The company’s retail and telecom businesses continued to deliver steady performances.
The O2C business reported earnings before interest, tax, depreciation and amortization (Ebitda) of ₹16,293 crore in the fiscal fourth quarter, marking a 14.4% increase from a year earlier. The company attributed the increase in Ebitda margin of 12.7%, up by 290 basis points from a year earlier, to the strength in transportation fuel cracks, optimized feedstock cost, and advantageous ethane cracking economics.
Diese Geschichte stammt aus der April 22, 2023-Ausgabe von Mint Mumbai.
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Diese Geschichte stammt aus der April 22, 2023-Ausgabe von Mint Mumbai.
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