Q1 results 2023: India’s multinational conglomerate Reliance Industries Ltd (RIL) will declare its first quarter earnings for the financial year 2023-24. The board of directors of Sensex Heavyweight is going to consider and approve the standalone consolidated and unaudited financial results of the company on 21st July 2023. RIL informed Indian stock market exchanges about the board meeting date and its agenda in its latest exchange filing on Friday.
Informing Indian bourses about the Q1 results 2023 date, RIL said, “We wish to inform you that pursuant to Regulation 29 and other applicable provisions of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“Listing Regulations”), a meeting of the Board of Directors of the Company is scheduled to be held on Friday, July 21, 2023, inter alia, to consider and approve the standalone and consolidated unaudited financial results of the Company for the quarter ended June 30, 2023.”
RIL’s Q1 earnings for the current fiscal will be an important event for the Indian stock market as the Fortune 500 company has declared Jio Financial demerger from RIL. It has already announced the Jio Financial Services demerger record date on 20th July 2023, just one day ahead of the RIL Q1 results in 2023.
RIL Q4 results in 2023
In Q4GY23, the blue-chip giant outperformed street expectations by recording double-digit profitability growth in the quarter ending March 2023 (Q4FY23). RIL informed that its consolidated annual EBITDA crossed the benchmark of 150,000 crore for the first time during FY23 up by 23.1 per cent YoY from 125,687 crore in FY22. During Q4FY23, the company recorded an EBITDA of 41,389 crore up by 21.8 per cent YoY from 33,968 crore during 4Q FY22.
In Q4 results 2023, Reliance Industries reported that its depreciation grew by 43.2 percent Y-o-Y to 11,456 crores ($ 1.4 billion) from 8,001 crores during 4Q FY22. Depreciation grew by 35.3 percent Y-o-Y to 40,319 crore in FY23 ($ 4.9 billion) from 29,797 crore in FY22 due to an expanded asset base across all the businesses and higher network utilization in the digital services business.
