Reliance Industries Q3 FY 22 net profit soars 38% YoY

Indian Conglomerate Giant Reliance Industries posted handsome earnings for Q3 FY 22. Its Net profit stood at Rs. 20,539 Cr., a 38% rise YOY. Similarly, its net sales were at Rs. 185,027 Cr., a 57% rise YoY.

Its PBT stood at Rs. 25,227 Cr., a 68.4% rise YoY from Rs. 14,982 Cr. 

Its EBITDA stood at Rs. 33,886 Cr., a 29.9% rise YoY. 

However, it posted an exceptional item (gain) of Rs. 2,872 Cr., on account of stake sale of shale gas assets. This exceptional gain was partially offset by provisions for liabilities relating to GAPCO of Rs. 36 Cr.

One significant fact regarding its Q3 FY 22 is that its Finance cost decreased by 11.9%(YoY), to Rs 3,812 Cr. from Rs. 4,326 Cr. Its recent payment of debts helped to cut down it finance cost. 

However, the continued sell-off in Indian equity markets made this Index heavyweight to correct despite good results. On Tuesday, the stock is trading around Rs. 2321.75 on NSE during intra-day trade.