Reliance Industries Limited has reported Consolidated financial results for the period ended March 31, 2024.

The company has reported total income of Rs. 245,249 crores during the period ended March 31, 2024 as compared to Rs. 231,839 crores during the period ended December 31, 2023. The company reported total income of Rs.219, 140 crores during the period ended March 31, 2023.

The company has posted net profit of Rs. 18,951 crores for the period ended March 31, 2024 as against net profit of Rs. 17,265 crores for the period ended December 31, 2023. The company posted net profit Rs.19,299 crores for the period ended March 31, 2023.

For the Financial Year ended March 31, 2024, Reliance has posted net profit of Rs.69, 621 crores for as against net profit of Rs.66, 702 crores for the Financial Year ended March 31, 2023.

The company has reported total income of Rs.930,529 crores during the Financial Year ended March 31, 2024 as compared to Rs.903,045 crores during the Financial Year ended March 31, 2023.

Commenting on the results, Mukesh D. Ambani, Chairman and Managing Director, Reliance Industries Limited said: “Initiatives across RIL’s businesses have made a remarkable contribution towards fostering growth of various sectors of the Indian economy. It is heartening to note that alongside strengthening the national economy, all segments have posted a robust financial and operating performance. This has helped the Company achieve multiple milestones. I am happy to share that this year, Reliance became the first Indian company to cross the ₹ 100,000-crore threshold in pre-tax profits…

Strong demand for fuels globally, and limited flexibility in refining system worldwide, supported margins and profitability of the O2C segment. Downstream chemical industry experienced increasingly challenging market conditions through the year. Despite headwinds, maintaining leading product positions and feedstock flexibility through our operating model that prioritises cost management, we delivered a resilient performance. The KG-D6 block has achieved 30 MMSCMD of production and now accounts for 30% o India’s domestic gas production.

We remain committed to our projects and initiatives, including those in the New Energy segment, which will bolster the company, and help it deliver sustainable growth for the future.”

RIL’s O2C revenue for FY24 decreased by 5.0% Y-o-Y to Rs. 564,749 crore primarily onaccount of lower product price realization following a 13.5% Y-o-Y decline in average Brent crude oil prices. This was partially offset by higher volumes. O2C EBITDA for FY24 was marginally higher at ₹ 62,393 crore with optimized feedstock sourcing, advantageous ethane cracking, and lower SAED impact, although the margin environment across transportation fuel and downstream chemicals remained weak through the year.