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Reliance Industries Q1 FY23 results declared. Should you invest?

Reliance Industries Q1 FY23 results declared. Should you invest?

Reliance Industries Q1 FY23 results

Reliance Industries Q1 FY23 results declared: the company showed a 46% rise in profits and revenue jumps 54.5%. Check out its key highlights here.

Who hasn’t heard of the Ambanis? Reliance Industries is one of the biggest multinational conglomerates. It is engaged in diverse businesses including energy, telecom, petrochemicals, and several others. With the size of this company, this behemoth’s results are an essential contributor to our economy.

Reliance Industries Q1FY23 result highlights.


  • 😊The net profit surged by 46.3% in Q1 to ₹17,955 crores, compared to a PAT of ₹12,272 crores in the same quarter of the previous year.
  • 😊The EBIDTA rounded up to ₹40,179 crores, which is a 45.8% increase compared to the previous year.
  • 😊This was the best quarter for Reliance Retail in terms of revenue (₹58,554 crores), a 51.9% jump YOY. Reliance Retail’s net profit was up 114.2% YoY to ₹2,061 crores. Its EBITDA increased 97.7% to ₹3,837 crores in the same period. The cash profit for the quarter rose 105.2% to ₹2,873 crores.
  • 😊Overall, the company’s revenue was up to ₹2,23,113 crores almost a 54% increase compared to the previous year.
  • 🙂 Telecom arm Jio Platforms reported a 24.1% YoY rise in net profit at ₹4,530 crores. It also had a 23.6% YoY rise in sales at ₹27,527 crores. EBITDA margin stood at 48.7%, up 176 bps YoY. This growth was led by average revenue per user (ARPU) increase in the connectivity business.

💬Management speak

 “Our new energy business is forging partnerships with technology leaders in solar, energy storage solutions and the hydrogen eco-system. These partnerships will help us realise the vision of clean, green and affordable energy solutions for all Indian” –

“Mukesh Ambani”

Valuation and Outlook

Reliance has posted mixed numbers for the quarter where O2C business EBITDA was lower than our estimates while B2C businesses (retail & telecom) have posted in-line performances. We continue to believe in Reliance’s long-term story and advice investors to accumulate at lower levels. Singapore GRMs have crashed to USD 5 dollars in the last month and profitability of O2C business is expected to be lower going forward.

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