On a sequential basis, the profit increased 3% from Rs 18,165 crore reported in the September quarter. Revenues jumped 4% quarter-on-quarter.
The oil-to-telecom conglomerate reported an EBITDA of Rs 50,932 crore, which is up 6% YoY, led by strong operating performance in Jio and O2C businesses.
“Reliance is entering a new phase of value creation with its initiatives in the AI and New Energy domains. I am confident that Reliance will play a pioneering role in the evolution of these epoch-defining technologies, providing sustainable solutions at scale for India and the world,” said Mukesh Ambani, Chairman and MD, Reliance Industries.
During the quarter, depreciation increased by 11% YoY to 14,622 crore. Finance Costs rose 7% YoY to 6,613 crore, largely due to operationalisation of 5G spectrum assets. Tax expenses, meanwhile, came in higher by 10% YoY at 7,530 crore.
More to come…