Reliance Industries Hits ₹20-Lakh Crore Market Cap Milestone

Reliance Industries Limited (RIL) achieved a significant milestone on Indian stock exchanges by surpassing a market capitalization of ₹20-lakh crore. This marks the first instance of any company achieving this valuation on the Indian bourses. The surge in market value is attributed to various factors including robust performance across its business segments and favorable market conditions.

Financial Performance Overview

• RIL shares reached a record high of ₹2,958 on the Bombay Stock Exchange (BSE), registering a 1.8% increase intraday.
• The day concluded with RIL’s shares closing at ₹2,930, marking a 0.88% increase.
• Year-to-date, RIL shares have gained 13.4%, while over the past year, they have surged by 26.1%.

Quarterly Results Highlights

• In the third quarter ending December, RIL reported an operating profit of ₹40,660 crore, reflecting a robust year-on-year growth of 15.4%.
• Earnings before interest, taxes, depreciation, and amortization (EBITDA) growth was primarily driven by the upstream oil & gas and retail segments.
• The oil to chemicals segment experienced subdued growth due to planned maintenance and inspection shutdowns, impacting overall growth.
• Reliance Jio witnessed continued growth with subscriber additions and increased data consumption.
• Retail segment growth was broad-based, spanning various consumption baskets.