Reliance Industries Limited (RIL) has reported Consolidated financial results for the period ended December 31, 2023.

The company has posted net profit of Rs. 17,265 crores for the period ended December 31, 2023 as against net profit of Rs. 17,394 crores for the period ended September 30, 2023. RIL posted net profit of Rs. 15,792 crores for the period ended December 31, 2022.

The company has reported total income of Rs. 231,839 crores during the period ended December 31, 2023 as compared to Rs. 238,797 crores during the period ended September 30, 2023. RIL reported total income of Rs.223, 311 crores during the period ended December 31, 2022.

For the 9 months period ended December 31, 2023, RIL reported total income of Rs. 685,280 crores as compared to Rs. 683,905 crores during the 9 Months period ended December 31, 2022.

The company has posted net profit of Rs.50,670 crores for the 9 months period ended December 31, 2023 as against net profitof Rs.47, 403 crores for the 9 Months period ended December 31, 2022.

Commenting on the results, Mukesh D. Ambani, Chairman and Managing Director, Reliance Industries Limited 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…

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.”

O2C

Revenue in this segment declined 2.4 per cent due to shutdowns and lower price realisation led by a 5.3 per cent decline in average Brent crude oil prices.

The company said there was sustained performance in the segment with higher gasoline cracks and feedstock sourcing. This was partially offset by lower downstream chemical margins.

Revenue from the oil and gas segment rose on higher volumes that was offset by lower gas price realisation from the KG D6 field. The EBITDA in this segment rose by nearly 50 per cent to Rs 5,804 crore.