RIL Q4 results: Key takeaways from Reliance's FY23Q4 results

RIL Q4 results: Reliance Industries Ltd (RIL) on Friday, April 21, 2023, announced its Q4 results, declaring a rise of 22.2 per cent in its consolidated profit for the quarter ended March. However, during the same period, the company's revenue from operations slid 1.9 per cent. The company also announced its results for its key companies, Reliance Jio, and Reliance (Retail), Reliance O2C. Zee Business takes you through the key takeaways from the results today.

Takeaways from RIL Q4 results

Reliance Industries FY23Q4 results

RIL Q4 Net Profit

The company's fourth quarter consolidated profits were up 22.2 per cent to Rs 19,299 crore during the January-March quarter.

The company's profit was higher than the estimate of ZEE Business Research analysts, who had projected the profits to be Rs 17,500 crore, up 10.8 per cent on a sequential basis.

RIL Q4 Revenue from operations

The company's revenue from operations was down 1.9 per cent to Rs 216,376 crore. 

RILQ4 EBIDTA

Reliance's EBIDTA saw a jump of 21.8 per cent to Rs41,389 crore on a year-on-year basis.

The company banked on higher revenue and a rise in margins in the digital services segment.

Some of the other factors that injected the company's EBIDTA growth were sourcing benefits, a favourable mix, and operating effencies in the retail segment. 

The company said, "Further, higher transportation fuel cracks and optimised feedstock costs are partially offset by lower downstream chemical margins in the O2C segment. Better gas price realisation and higher volumes in the Oil & Gas segment also supported the numbers, the company said."

RILQ4 Reliance Retail:   

Reliance Retail announced a 12.9 per cent rise in its net profit to Rs 2,415 crore for the fourth quarter.

Its revenue from operations swelled 21.09 per cent to Rs 61,559 crore during the same period, courtesy an increase in footfalls, and new store openings.

The retail section of RIL said in its filing that it had recorded a net profit of Rs 2,139 crore in the fourth quarter, while its revenue from operations was Rs 50,834 crore  

In its filing, the company said that the number of stores operated by it surpassed 18,000 and the number of footfalls at its stores soared 41.29 per cent YoY to 21.9 crore.

In the March quarter, digital commerce and new commerce businesses continued to grow and contributed 17 percent of its revenue.

Reliance Jio Q4 results

The telecom arm of the company recorded a 13 per cent rise in net profit to Rs 4,716 crore for the January-March quarter.

The company's net profit was Rs 4,173 crore in the year-ago period.

The company's revenue during the same period was up about 12 per cent to Rs 23,394 crore from Rs 20,945 crore in the March 2022 quarter.

The company clocked an EBIDTA of Rs 12,210 crore in Q4FY23. It was a rise of 1.7 per cent from Rs 12,009 crore in the previous quarter.

For the quarter, EBIDTA margins were 52.19 per cent against previous quarter's 52.21 per cent.   

For the year ended March 31, 2023, the company's net profit rose about 23 per cent to Rs 18,207 crore from Rs 14,817 crore in 2021-22. Jio's ARPU jumped 6.7 per cent YoY to Rs 178.8 during the quarter, from Rs 167.6 in the year-ago period.

Reliance O2C Q4 results:

While Reliance's retail and Jio segments saw a rise in its revenue, its O2C segment suffered primarily due to a sharp reduction in crude oil prices and lower price realisation of downstream projects. Its quarterly revenue fell 11.8 per cent Y-o-Y to Rs 1.28 lakh crore.

However, O2C's EBITDA for the March quarter jumped 14.4 per cent to Rs 16,293 crore YoY, led by strength in transportation fuel cracks, optimised feedstock costs, and advantageous ethane cracking economics.

O2C production meant for sale was 17.1 million tonne for the quarter.