Reliance Industries Q3 2024 Results and Share Price Update

Before Market Opens
19 January, 2024

Reliance Industries Ltd (RIL) reported its Q3 results for 2024 with a significant increase in various financial metrics. Here are the key highlights:

1. Net Profit: RIL’s net profit rose by 11% year-on-year, reaching ₹19,641 crore.

2. Gross Revenue: The gross revenue for the quarter grew by 3.2%, amounting to ₹2,48,160 crore.

3. EBITDA: The EBITDA for the quarter was ₹44,678 crore, a 16.7% increase from the previous year, with the EBITDA margin expanding by 210 basis points to 18%.

4. Segment Performance:
– Reliance Jio’s average revenue per user (ARPU) remained flat at ₹181.70.
– Reliance Retail witnessed a 31.1% increase in EBITDA, driven by record footfalls during the festive season.
– The Oil to Chemicals (O2C) segment experienced a decline in revenue by 2.4%, primarily due to lower price realization and a decrease in average brent crude oil prices.
– Revenue from the Oil & Gas segment saw a significant jump, mainly due to higher volumes, partly offset by lower gas price realization from the KG D6 field.

5. Key Growth Contributors:
– Jio Platforms Limited (JPL) EBITDA increased by 11.5% year-on-year, with higher revenue and margins.
– Reliance Retail’s EBITDA margin improved by 50 basis points to 8.4%, attributed to operating leverage and cost management initiatives.

The effect of Reliance Industries Ltd’s Q3 2024 financial results on its share price would depend on the market’s reaction to these results. Generally, positive financial results, such as increased net profit and revenue, can lead to a rise in the share price as investors gain confidence in the company’s performance and future prospects. Conversely, if the results fall short of market expectations or highlight areas of concern, the share price might experience a decline. As of the most recent update, the share price of Reliance Industries Limited (RELIANCE.NS) on the NSE was ₹2,734.90, experiencing a slight decrease of -0.04% from the previous close. For the latest and most accurate information, it’s advisable to check a reliable financial news source or a stock market update.

24 February, 2024

Byju’s, once heralded as a flagship in India’s edtech sector, is grappling with severe financial and operational challenges, marked by a dramatic valuation drop. The company, which sought to stabilize its operations and finances, is now raising funds at a valuation significantly lower than its peak. This development comes amid efforts to address a substantial debt burden, with Byju’s proposing a repayment plan for its $1.2 billion loan. Investor confidence appears shaken, with some stakeholders pushing for drastic changes in leadership to navigate the crisis effectively. The turmoil reflects broader sectoral pressures and raises questions about the sustainability of high-growth trajectories in the edtech industry

10 February, 2024

Australia’s energy market is witnessing significant transitions and investments aimed at bolstering renewable energy infrastructure and securing gas supplies. Key developments include a $179 million investment by the Queensland Government for community battery projects, Santos’ $5.7 billion gas pipeline project following a legal battle win, and a $206 million energy savings package for NSW households. Additionally, the Australian government has secured new gas supply deals to support the east coast market, emphasizing the role of gas in transitioning to a renewable grid.

India 2024
9 February, 2024

The latest opinion polls, including the Mood of the Nation survey by India Today, predict a comfortable victory for Prime Minister Narendra Modi’s BJP and its allies in the National Democratic Alliance (NDA), with a projected win of 335 Lok Sabha seats in the 2024 general elections. This forecast suggests a slight decrease from the 2019 elections but still ensures a majority. The survey, involving interviews with over 149,000 respondents, reflects Modi’s enduring popularity based on his nationalist policies and economic reforms. Other polls echo these findings, although seat projections vary slightly. The opposition INDIA alliance is expected to secure a significant number of seats, yet not enough to challenge the NDA’s majority. These predictions highlight a political landscape that remains largely favorable to Modi and the BJP as the election approaches