Reliance Industries Q1 Results: Net profit attributable to the owners of the company for Reliance Industries during the quarter ending June’2024 at ₹15,138 Crore declined 5.4% compared to ₹16,011 crore in the year ago quarter. On sequential basis the net profit decline was steeper 20% compared to ₹18,951 crore in the March’2024 quarter
Reliance Industries Revenues from Operations at ₹236, 217 Crore also increased 12% year on year compared to ₹210,831 crore in the year ago quarter. On sequential basis revenues were 2.7% lower compared to ₹264,834 crore
The reported Earnings before interest tax depreciation and amortisation at ₹42,748 crore for Reliance Industries however came 2% higher compared to ₹41,906 crore in the year ago quarter
The depreciation costs surged 15.5% yoy to ₹13,596 crore. Finance costs also increased by 1.4% Y-o-Y to ₹5,918 crore primarily due to higher interest rates impacting the net profit growth.
The weakness in the oil to chemicals segment pulled down the operating performance. Oil to Chemical Ebitda was lower by 14.3% on account of lower gasoline cracks and lower down stream chemicals profitability.