Reliance Industries Limited (RIL) has posted net profit of Rs. 19299 crores for the period ended March 31, 2023 as against net profit of Rs.16203 crores for the period ended March 31, 2022.

The company has reported total income of Rs. 219294 crores during the period ended March 31, 2023 as compared to Rs.214344 crores during the period ended March 31, 2022.

For the financial year ended FY 2023, RIL has posted net profit of Rs.66702 crores as against net profit of Rs.60705 crores for the Financial Year ended March 31, 2022.

The company has reported total income of Rs.904770 crores during the Financial Year ended March 31, 2023 as compared to Rs.736581 crores during the Financial Year ended March 31, 2022.

The O2C business recorded a 14.4 percent YoY growth in EBITDA in the March quarter, with margin expansion of 290 bps, led by strength in transportation fuel cracks, optimised feedstock cost, and advantageous ethane cracking economics. This was partially offset by lower polyester chain margins. The special additional excise duty (SAED) on transportation fuels adversely impacted its earnings by Rs 711 crore.

Revenue from this segment declined by 11.8 percent YoY primarily on account of sharp reduction in crude oil prices and lower price realisation of downstream products, while total throughput increased by 2.6 percent YoY.

“O2C segment posted its highest-ever operating profit despite global uncertainties and disruptions in commodity trade flows. Our oil and gas segment also delivered very strong growth and is now poised to contribute nearly 30% of India’s domestic gas production,” Mukesh D. Ambani, Chairman and Managing Director, Reliance Industries Limited said.