Shares of Mukesh Ambani owned Reliance Industries were in the spotlight on Monday after the company reported it Q3FY23 results on Friday after market close. While there is a growth in revenue in the quarter ended December, the net profit declines 15% compared to the last year quarter.
It reported total revenue of Rs 2.20 lakh crore, a rise of 15 per cent compare to the Rs 1.91 lakh crore during the same quarter last year. Net profit declined to Rs 15,792 crore from Rs 18,549 of the previous year.
Reliance Industries posted a beat on EBITA, which stood at Rs 38,460 crore, rose 13.5 per cent year on year. Its subsidiary Reliance Jio reported a jump of 28 per cent in net profit to Rs 4,638 crore and a 19 per cent in revenue to Rs 22,998 year on year.
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