Reliance Industries registers 11.5 % revenue growth during Q1

New Delhi, July 19: Reliance Industries Limited on Friday reported that its consolidated revenue during the April-June 2024 quarter was 11.5 per cent higher year-on-year at Rs 257,823 crore. In the same quarter last year, it was at Rs 231,132 crore.

The growth in revenue can be attributed to higher oil and product prices and oil and gas segment with strong growth in volumes. Steady growth in consumer businesses also contributed to the increase in revenue.

Coming to consolidated net profit or profit after tax, it, however, fell year-on-year by 4 per cent to Rs 17,448 crore. In the same quarter of 2023, it was at Rs 18,182 crore.

Reliance's overall EBITDA increased by 2.0 per cent year-on-year to Rs 42,748 crore.

"O2C EBITDA was lower by 14.3 per cent on account of lower gasoline cracks (-30 per cent) and lower downstream chemical deltas, particularly PE (-17 per cent), PP (-16 per cent) and integrated polyester margin (-15 per cent)," the earnings document read.

The capital expenditure for the quarter ended June 30, 2024, was Rs 28,785 crore.