Reliance Industries March quarter net profit jumps 10% to Rs 10,362 cr; surpasses street estimates

Reliance Industries Limited (RIL) reported a 9.8 per cent year-on-year spike in its net profit for the fourth quarter ended March 31, 2019.

This is the second consecutive quarter when RIL has posted quarterly net profit of over Rs 10,000 cr. (Image: Getty)

RIL on Thursday reported a 9.8 per cent year-on-year spike in its net profit for Q4

The company posted a net profit of Rs 10, 362 crore during this quarter

Company’s cash profit increased by 6.1 per cent to Rs 16,349 crore

New Delhi: Mukesh Ambani-led Reliance Industries Limited (RIL) on Thursday reported a 9.8 per cent year-on-year spike in its net profit for the fourth quarter ended March 31, 2019. The company posted a net profit of Rs 10, 362 crore during this quarter compared to Rs 9,438 crore during the same quarter last year. “RIL’s full-year consolidated net profit rose 13.1 per cent year on year Rs 39,588 crore. Its full-year consolidated revenue rose by 44.6 per cent to Rs 622,809 crore,” the company said in an official statement. During the previous quarter, RIL posted a rise of 8.8 per cent in its net profit for the quarter ended December 31, 2018, thus becoming the first Indian private company to post Rs 10,000 crore profit in one single quarter. This is the second consecutive quarter when the oil-to-retail-to-telecom conglomerate has posted a quarterly net profit of about Rs 10,000 crore. The statement also highlighted that the company’s cash profit increased by 6.1 per cent to Rs 16,349 crore in the fourth quarter along with a revenue hike of 19.4 per cent to Rs 1,54,110 crore. Commenting on the result, Mukesh Ambani said, “During FY 2018-19, we achieved several milestones and made significant strides in building Reliance of the future. Reliance Retail crossed ₹ 100,000 crore revenue milestone, Jio now serves over 300 million consumers and our petrochemicals business delivered its highest ever earnings. I am proud of the entire Reliance team; their hard work and dedication have laid the foundation for these achievements and many more to come.” “The Company has delivered record consolidated net profit of Rs 39,588 crore for the year in a period of heightened volatility in the energy markets. I am delighted to highlight that our Company has more than doubled its PBDIT in last five years to Rs 92,656 crore – establishing a global benchmark for value creation,” he added. RIL's consumer businesses clocked an Ebitda (earnings before interest, tax, depreciation and amortisation) of Rs 1721 crore this quarter.

Published at : 18 Apr 2019 07:31 PM (IST)

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