RelianceQ3 Result: Reliance Industries Limited’s net profit declined by 15 percent to Rs 15,792 crore in the third quarter of the current financial year. The company told the stock market on Friday that the net profit in the October-December quarter of 2022-23 stood at Rs 15,792 crore, compared to Rs 18,549 crore in the corresponding quarter of the previous financial year.
The company’s income increased to Rs 2,20,592 crore in the December quarter, compared to Rs 1,91,271 crore in the same quarter of the previous financial year. Reliance says its EBITDA grew 13.5 percent year-on-year to Rs 38,460 crore ($4.6 billion).
Reliance Jio has benefited a lot
The company said that Reliance Jio is setting up 5G network and increasing its existing wireless and wireline network capacity. Jio, a subsidiary of Reliance Industries, is mainly engaged in the business of providing digital services. According to the company, its net worth stood at Rs 2,11,281 crore at the end of the December quarter, up from Rs 2,06,644 crore in September and Rs 1,93,616 crore in the year-ago quarter.