In the third quarter of the financial year 2024, Reliance Industries Limited (RIL), under the leadership of Mukesh Ambani, has posted robust financial results, showcasing a notable 11% growth in net profit on an annual basis. The quarterly net profit surged to INR 19,641 Crore, compared to INR 17,706 Crore in the corresponding quarter of the previous year.
Profit After Tax (PAT) for the First Nine Months of FY 2024: INR 57,777 Crore
For the initial nine months of the financial year 2024, RIL reported a Profit After Tax (PAT) of INR 57,777 Crore. This marks a substantial increase from the previous year's corresponding period, where the company's profit stood at INR 52,443 Crore. Notably, in the financial year 2022-23, the company had recorded a net profit of INR 73,670 Crore during the same timeframe.
Revenue Growth and Total Income for Q3 FY 2024
During the third quarter of the fiscal year 2024, RIL witnessed a commendable 3.2% growth in total income, reaching INR 2,48,160 Crore. This represents an increase from the comparable quarter in the preceding fiscal year, where the total income was INR 2,40,532 Crore. The company attributed this growth to the separation of its financial services business, emphasizing the presentation of figures comparable to the previous year.
Outlook and Future Prospects
The positive financial performance in Q3 FY 2024 reflects RIL's resilience and strategic initiatives. Mukesh Ambani, Chairman and Managing Director of RIL, expressed optimism about the company's future prospects, highlighting the continued focus on diversification and innovation.
Reliance Industries Limited's Q3 results underscore its financial strength and stability, showcasing an 11% rise in net profit. As the company continues to explore new avenues and maintain its commitment to innovation, the outlook remains promising for one of India's leading conglomerates.
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