Q2 2023 Reliance Industries Ltd Earnings Call Transcript
I welcome you to the second quarter FY '23 financial results presentation. Like always, let me start out with the consolidated financials and then hand it over Kiran and Anshuman for the Digital Services part of it and then to Gaurav for Reliance Retail, for -- to Sanjay for the E&P upstream business and then I will take it back to complete the O2C as well as the final set of comments.
So starting with the results for this quarter. So EBITDA at close to INR 35,000 crores, up 14% led by consumer businesses and upstream. Net profit at INR 15,512 crores was marginally up on a year-on-year basis. Earnings were impacted by lower O2C contribution. Of course, we did see the impact more on a quarter-on-quarter basis. I think O2C was impacted really by product volatility in product margins, the fact that demand was subdued and the introduction of the special additional excise duty.
The retail consumer parts of the business has done -- did exceptionally well with robust retail revenues and EBITDA also being strong, and we saw growth
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