Reliance Q3 Results 2023: RIL's net profit drops 15% YoY in December quarter to Rs 15,792 crore

Reliance Q3 Results 2023: Reliance Industries Ltd on Friday reported a 15 per cent drop in its net profit to Rs 15,792 crore for the third quarter, according to a company's stock exchange filing. The decline in Profit After Tax (PAT) was on account of 16 per cent jump in its overal expenses which were reported at Rs 200,733 crore for the reporting quarter as against Rs 173,060 incurred in the year ago period. 

The net profit of Rs 15,792 crore in October-December 2022 compares to Rs 18,549 crore a year back.

Revenue from operations rose to Rs 220,592 crore from Rs 191,271 crore in October-December 2021.

The results were declared after market hours. Reliance shares today ended at Rs 2,443 on the NSE, down by Rs 29.05 or 1.18 per cent from the previous closing price on Thursday. 

Meanwhile, Reliance Jio, the nation's largest telecom firm, on Friday reported a 28.3 per cent rise in its third-quarter net profit to Rs 4,638 crore.

The firm had a net profit of Rs 3,615 crore in October-December 2021, according to a company's stock exchange filing.

Revenue rose to Rs 22,993 crore in October-December 2022 from Rs 19,347 crore a year back.