Confirmation of its plans to demerge its financial services arm and list the new entity Jio Financial Services, along with a 23.7% rise in revenue and a 27.2% increase in EBIT for FY23 over FY22, were the highlights of Reliance Industries’ full year and Q4 results announcement. For the quarter, too consolidated net profit was up, driven by a robust upside in its oil-to-chemicals (O2C) business which posted the highest-ever operating profit despite what chairman Mukesh Ambani called “global uncertainties and disruptions in commodity trade flows.
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