RIL Q4 Net Profit More Than Double To Rs 13,227 Crore

Mukesh Ambani led firm revenues during the quarter went up by 13.6% to Rs 172,095 crore.

RIL Q4 net profit more than double to Rs 13,227 crore (Source- PTI)

Mumbai: Reliance Industries (RIL) consolidated net profit for the fourth quarter ending March 31, more than doubled to Rs 13,227 crore, aided by exceptional gains of Rs 797 crore compared to an exceptional loss of Rs 4267 crore in the year-ago period.

The profit doubled despite the lower EBITDA of the oil to chemicals (O2C) business as digital and retail businesses accounted for almost half of the EBITDA.  

Mukesh Ambani led firm revenues during the quarter went up by 13.6% to Rs 172,095 crore.

Commenting on the results, RIL chairman Mukesh Ambani said, "We have registered robust recovery in O2C and retail segment, and resilient growth in Digital Services business. Sustained high utilization rates across sites and improvement in downstream product deltas, as well as transportation fuel margins, aided O2C earnings growth. Our consumer businesses have proved to be a digital and physical lifeline for the nation in these challenging times. Jio's high-speed connectivity services enabled millions of Indians work from home, study from home and even receive healthcare from home. Reliance Retail ensured safe supplies of essentials goods and services to customer homes."

The company reported 35% growth in consolidated net profit for FY21 to Rs 53,739 crore despite an 18.3% fall in revenues during the year to Rs 5,39,238 crore.

On a standalone basis, the company's profits grew 3.4% to Rs 31,944  crore on a 23.8% fall in revenues to Rs 2,78,490 crore.

Jio Platforms Limited's (JPL) net profits during the quarter grew marginally 0.5% to Rs 3508 crore on a 5.3% fall in the value of services to Rs 21,650 crore.

The company's total customer base, as of March 31, stood at 426.2 million, with the net addition of 15.4 million customers during the quarter.
JPL's ARPU during the quarter fell to Rs 138.2 per subscriber per month as against Rs 151.0 per subscriber per month in the trailing quarter.

"Jio has a highly engaged 426 million customer base and remains committed to enhancing digital experiences not only for our existing customers but, for all individuals, households, and enterprises across the country. With its path-defining partnerships over the last couple of years, Jio will continue to strive towards making India a premier digital society," said Mr. Ambani.

Reliance Retail reported a 22.8% jump in its fourth-quarter net profits to Rs 2247 crore on a 24.4% increase in revenues to Rs 47,064 crore.

RIL's outstanding debt as of 31st March 2021 stood at Rs 251,811 crore ($ 34.4 billion). Comparatively, the company's cash and cash equivalents (including share call money receivable on rights issue) as of 31st March 2021 were at Rs 254,019 crore ($ 34.7 billion). The company has announced a dividend of Rs 7 per share. 

Ahead of the results, RIL shares closed down 1.42% at Rs 1994.5 in a weak Mumbai market on Friday, valuing the company at Rs 12,64,370 crore.