Refineries/Petro-products company Reliance Industries announced Q3FY24 results: Financial Highlights: Consolidated Quarterly Revenue: Rs 2,48,160 crore, a 3.2% increase YoY. Consolidated EBITDA: Rs 44,678 crore, marking a 16.7% increase YoY, with an EBITDA margin of 18%. Quarterly Profit After Tax: Rs 19,641 crore, up by 10.9% YoY. Capital Expenditure: Investments of Rs 30,102 crore mainly in 5G rollout, retail infrastructure, and new energy business. Outstanding Debt: Rs 3,11,743 crore, with cash and cash equivalents at Rs 1,92,371 crore. Net Debt: Positioned at Rs 1,19,372 crore with a net debt to EBITDA ratio of 0.68. Segment-wise Performance: Jio Platforms Quarterly Revenue: Rs 32,510 crore, up by 11.4% YoY. EBITDA increased by 11.5% to Rs 13,955 crore. Reliance Retail Quarterly Revenue: Rs 83,063 crore, a 22.8% increase YoY. EBITDA grew by 31.1% to Rs 6,258 crore with a margin of 8.4%. Oil to Chemicals (O2C) Segment: Quarterly revenue decreased by 2.4% to Rs 141,096 crore, while EBITDA marginally increased by 1.0% to Rs 14,064 crore. Oil and Gas Segment: Quarterly revenue is up by 50.2% at Rs 6,719 crore and a record EBITDA of Rs 5,804 crore, rising by 49.6%. Commenting on the results, Mukesh D. Ambani, Chairman and Managing Director, Reliance Industries said: “Reliance has delivered yet another quarter of robust operating and financial performance, thanks to the exceptional efforts put in by teams across its businesses. I am happy to share that Jio has completed in India the fastest rollout of True 5G services anywhere in the world. Every city, town, and village in the country is now equipped with high-speed digital connectivity, which will usher in a new era of unparalleled digital accessibility and technology-led growth. The strong uptake of the JioBharat phone and JioAirFiber services has resulted in the continued expansion of Jio’s subscriber base, contributing to the stellar growth numbers of the digital services business. The retail segment has also delivered an impressive financial performance with its rapidly expanding physical as well as digital footprint. Reliance Retail remains focused on enriching the customer shopping experience by adding new brands and offerings to its portfolio. Its New Commerce initiatives continue to support the growth journey of millions of small merchants through technology, generating immense societal value. The Oil & Gas segment posted its highest-ever quarterly EBITDA. I am happy to note that KG D6 is now contributing 30% of India’s gas production, fueling its transition towards a greener and cleaner tomorrow. The O2C segment delivered resilient performance aided by operational flexibility and strong domestic demand. Staying true to its commitment to sustainability, Reliance has become the first Indian company to chemically recycle pyrolysis oil into circular polymers. The New Energy Giga Complex is all set to be commissioned in the second half of CY24. I am confident that Reliance’s New Energy business will play a pivotal role in the global movement for adoption of cleaner fuels.” Result PDF