India’s Reliance reports financial results for Q4 FY24
by ChemOrbis Editorial Team - content@chemorbis.com
According to a press release dated April 22, India’s Reliance Industries Ltd (RIL) released its financial results for the quarter that ended on 31 March 2024 (Q4FY24). The company’s gross revenue came in at ₹264,834 crore ($31.8 billion), up nearly by 11% year over year. The strong result was attributed to a notable growth in O2C (order to cash) and consumer business. Oil and gas segment revenues also jumped by 42% thanks to higher volumes.
Reliance’s EBITDA increased by 14.3% from the same period of last year to ₹47,150 crore ($5.7 billion) owing to a strong contribution from all businesses. Oil and gas segment EBITDA surged by 47.5% in Q4 FY24.
Mukesh D. Ambani, Chairman and Managing Director commented on the results, “Initiatives across RIL’s businesses have made a remarkable contribution towards fostering growth of various sectors of the Indian economy. It is heartening to note that alongside strengthening the national economy, all segments have posted a robust financial and operating performance. This has helped the company achieve multiple milestones.”
Reliance’s EBITDA increased by 14.3% from the same period of last year to ₹47,150 crore ($5.7 billion) owing to a strong contribution from all businesses. Oil and gas segment EBITDA surged by 47.5% in Q4 FY24.
Mukesh D. Ambani, Chairman and Managing Director commented on the results, “Initiatives across RIL’s businesses have made a remarkable contribution towards fostering growth of various sectors of the Indian economy. It is heartening to note that alongside strengthening the national economy, all segments have posted a robust financial and operating performance. This has helped the company achieve multiple milestones.”
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