Reliance (RELIANCE) — concall transcript

📢 Key Event
Reliance Q3 FY2024 EBITDA up 17% YoY to ₹44,700 crore, net profit up 11% YoY to ₹19,641 crore, driven by retail and Jio growth.

🔄 What Changed
17% YoY EBITDA growth to ₹44,700 crore; 11% YoY net profit increase to ₹19,641 crore; 23% YoY retail revenue growth; 11.2 million new Jio subscribers; 252 new retail stores added.

🔮 What's Next
Jio aims for pan-India 5G coverage with rural penetration via Jio Bharat; capex moderated to ₹30,000 crore; net debt stable at ₹1,19,372 crore.

💡 Investor Takeaway
Strong retail and Jio growth drove profitability, but downstream margin pressure from global polymer weakness requires monitoring of international demand trends.

Reliance Industries reported consolidated EBITDA growth of 17% YoY to ₹44,700 crore and net profit increase of 11% YoY to ₹19,641 crore for Q3 FY2024, driven by 23% YoY retail revenue growth and strong Jio digital services expansion. Jio added 11.2 million subscribers with 90 million migrated to 5G, maintaining three times the competitor's 5G availability and nearly double the download speeds. Reliance Retail expanded with 252 new stores, reaching 72.9 million sq ft, while digital commerce contributed 19% of retail revenue. Downstream margins faced pressure from global polymer weakness but benefited from ethane price declines, with operating rates at 78.5%.

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About Reliance Industries Ltd (RELIANCE)

Oil Gas & Consumable Fuels · Refineries · Listed on BSE

Market Cap: ₹17,77,025.32 Cr P/E: 23.8 ROE: 9.7% ROCE: 11.3% Div Yield: 0.46%

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🔥 Also filed on 31 December 2023

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Source: Stock Announcements. Analysis by StockFin.ai. For informational purposes only — not investment advice.

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