Shares of Reliance Industries rose more than 1 per cent in early trades after the strong performance of the company across verticals in the fourth quarter of FY23 and the full year.

Though margins on its oils-to-chemicals business was under pressure during the quarter, its consumer business showed strong resilience. Analysts expect these to be the growth drivers going ahead.

In the fourth quarter, the revenue was up 2 per cent on year (down 2 percent sequentially) at ₹2 lakh crore.

EBITDA was at ₹3, 8440 crore, up 23 per cent YoY, 9 per cent up QoQ, driven by the O2C segment.

Also read: Reliance Industries scraps plan to merge new energy arm with itself

Net profit at ₹19,299 crore was up 19 per cent YoY, and 22 per cent up QoQ, on lower-than-expected tax.

Analysts expect tariff hikes in the telecom business to be a key monitorable and the O2C business to improve with addition of new refining capacity and a pick up in demand in China.

At 9.23 a.m., shares of RIL were up by more than 1 per cent at ₹2,376 on the NSE.

Also read: Reliance Retail’s Q4 net profit rises 13% YoY