The perceived earnings miss, which has come on the heels of the 31% record-breaking surge in the stock price from its 2023 lows in March, could dampen investor sentiment in the absence of near-term positive triggers, said analysts.
In Q4FY23, the Mukesh Ambani-backed RIL earned the highest ever quarterly profits driven by strong operating performance of mainstay O2C business, optimised feedstock cost, and supportive product margins. The retail and telecom arm also witnessed stable growth.
During Q4FY23, Ambani s oil-to-energy empire registered a PAT of ₹19,299 crore up by 19.11% YoY and 22.21% QoQ. EBITDA came in at ₹41,389 crore up by 21.8% YoY. O2C business reported a record EBITDA of ₹16,293 crore in Q4FY23 surging by 14.4%.
During Q3FY23, RIL garnered a consolidated net profit of ₹15,792 crore declining by 14.8% from ₹18,549 crore a year ago same period. However, revenue from operations climbed by 15% to ₹2.20 lakh crore in Q3 of the current fiscal versus ₹1.91 lakh crore in the same period last year.