Reliance Industries, India’s largest company by market capitalisation (Rs 16,74,186 crore), is set to declare its quarterly earnings on Friday, January 20. Billionaire Mukesh Ambani-led conglomerate will report its December quarter results after market hours on Friday.
“A meeting of the Board of Directors of the Company is scheduled to be held on Friday, January 20, 2023, inter alia, to consider and approve the standalone and consolidated unaudited financial results of the Company for the quarter/nine months ended December 31, 2022,” the oil-to-telecom-to-chemical conglomerate said in a regulatory filing.
Shareholders can check the company’s Q3 earnings details like net profit, revenue, dividend (if any), among others, after market hours i. e. 3:30 pm on Friday, January 20.
RIL Q3 earning preview, expectations
India’s largest company my market value is expected to report a decline in its revenue which is likely to drop 5.3 per cent to Rs 2,17,834 crore vs Rs 2,30,055 crore. RIL’s EBITDA is seen growing 8 per cent to Rs 33,742 crore while net profit could jump 17 per cent to Rs 15,990 crore versus Rs 13,656 crore in the last quarter.
Retail revenue could also rise by 8 per cent to Rs 70,148 crore as against Rs 64,936 crore in the last quarter. Reliance Jio revenue could be reported at Rs 23,362 crore, up 4 per cent as against Rs 22,521 crore in the last quarter. Net profit could jump by 5 per cent to Rs 4,758 crore.
Key things to watch out for in the quarterly earnings will be the company’s net debt levels and investments in retail and new energy verticals; any updates on demerger of Jio Financial Services; updates on acquisition done in Q3; 5G monetisation plans, among others.
RIL Q2 earnings
In the previous quarter, the conglomerate had reported consolidated net profit of Rs 13,656 crore for as against Rs 13,680 crore in the year-ago quarter. Its consolidated operating profit in the September quarter, including the impact of special additional excise duty imposed by the Centre in July, surged 14.5 percent to Rs 34,663 crore during the quarter under review, the company said in the filing.
Reliance Jio’s net profit rose by 28 per cent from the year-ago quarter to Rs 4,518 crore as compared to Rs 3,528 crore. Revenue from operation was up 20 per cent to Rs 22,521 crore in Q2 FY23.
RIL Dividend
The conglomerate declared an equity dividend of 80.00 per cent or Rs 8 per share for the year ending March 2022.
