Reliance Industries announced the results of the fourth quarter of 2022-23, with a jump of 19 percent 19299

Reliance Q4 Results: Reliance Industries, the country’s largest private company, has declared the results of the fourth quarter of 2022-23. In the fourth quarter, Reliance’s net profit has increased to Rs 19,299 crore, which was Rs 16,203 crore in the same quarter of the previous financial year. While the profit of Reliance Industries in the third quarter of 2022-23 was Rs 15,792 crore. In a regulatory filing with the stock exchange, the company said that the company’s revenue from operations has been Rs 216,376 crore, which is 2.11 percent higher than Rs 211,887 crore in the fourth quarter of 2021-22.

Declaring the results, Reliance Jio, the telecom company of Reliance Industries, said that in the fourth quarter of 2022-23, the company’s net profit has jumped by 13 percent. The company’s revenue has been Rs 23,394 crore while the revenue from operation in the fourth quarter of last year has been Rs 20,945 crore. That is, there has been a jump of 12 percent in the cost of operation from the revenue.

The profit of Reliance Retail, the retail company of Reliance Industries, has seen an increase of 12.9 percent in the fourth quarter. The profit of the company has been Rs 2415 crore. While the company’s revenue was Rs 69,267 crore, which is 19.4 percent more than the same quarter last year when the revenue was Rs 58,017 crore.

Commenting on the company’s results, Reliance Industries Chairman Mukesh Ambani said, “I believe that 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 years to come.” On the demerger of Reliance Jio Financial, he said that, this year we have decided to separate our financial services business and list the new entity Jio Financial Services. This will provide our shareholders with an opportunity to participate in an exciting new platform from the outset.

Earlier in today’s trading session, Reliance’s stock closed at Rs 2349 with a gain of Rs 3.20.

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