Reliance Industries (RIL) has reported yet another record year of profit growth in FY23, with Q4FY23 cons EBITDA/PAT of Rs384/193bn growing by 23/19% YoY and FY23 EBITDA/PAT of Rs1.4trn/Rs667bn growing by 29/14% YoY, respectively. Strong OTC segment earnings, coupled with a sharp turnaround in the upstream segment and sustained strength of the retail segment drove the improvement.