The Board of Reliance Industries Ltd (RIL) is scheduled to meet on October 14 to review and approve the financial results for the quarter ending September 2024.
“Meeting of the Board of Directors of the Company is scheduled to be held on Monday, October 14, 2024, inter alia, to consider and approve the standalone and consolidated unaudited financial results of the Company for the quarter and half year ended September 30, 2024,” the company said in an exchange filing.
A presentation on the company’s financial results will be given to analysts and the media on the same day following the meeting. “A presentation to analysts and media on financial results of the Company for the quarter and half year ended September 30, 2024 shall be made on the same day after the meeting,” the company added.
Mukesh Ambani-owned RIL reported a 5 per cent drop in consolidated net profit, totaling ₹15,138 crore for the first quarter ended June 2024, compared to ₹16,011 crore in the same period last year.
Operating revenue grew by 12 per cent year-on-year (YoY), reaching ₹2.36 lakh crore during the reporting period.
The significant increase in revenues was driven by the O2C segment, boosted by higher oil and product prices, along with robust volume growth in the oil and gas segment. Additionally, consistent growth in consumer businesses also played a role in the revenue rise.
In its filing with the exchange, RIL announced that the company’s Board of Directors is scheduled to meet on Monday, October 14, 2024, to review and approve the standalone and consolidated unaudited financial results for the quarter and half-year ending September 30, 2024.
RIL Q1 results
The profit fell significantly short of analysts’ expectations, which were around ₹16,341 crore, although revenue met forecasts.
The consolidated EBITDA for the first quarter grew by 2 per cent YoY to ₹42,748 crore, while EBITDA margins slipped 150 basis points YoY to 16.6 per cent.
The revenue increase was primarily driven by the O2C segment due to rising oil and product prices, as well as strong volume growth in the oil and gas segment. Additionally, consistent growth in consumer businesses also contributed to the overall revenue increase.
