Reliance Q4 profit jumps 20%, annual revenue crosses $100 billion
Reliance Industries Ltd, India’s biggest company by market value, reported a 20.2% jump in consolidated net profit for the fourth quarter as it recorded strong growth all its major businesses.
Net profit for the quarter ended March 31 rose to Rs 18,021 crore ($2.4 billion) from Rs 14,995 crore a year earlier.
Reliance, led by billionaire Mukesh Ambani, said gross revenue for the quarter jumped 35.1% to Rs 232,539 crore from Rs 172,095 crore a year earlier.
EBITDA for the quarter was Rs 33,968 crore, higher by 27.7% from a year earlier.
Revenue from its flagship oil to chemicals business jumped 44% from a year earlier to Rs 145,786 crore, as it benefited from higher oil prices. Brent crude prices were up 66.5% year on year to $101.4 per barrel, the company said, adding that product volumes were higher by 4.2%.
Quarterly revenue at Reliance Retail climbed 23.3% to Rs 58,017 crore while EBITDA inched up 2.4% to Rs 3,705 crore. Gross revenue of Jio Platforms, the digital services unit, rose almost 21% to Rs 26,139 crore while its EBITDA jumped 27.4% to Rs 10,918 crore.
RIL announced a dividend of Rs 8 per share.
1) Annual consolidated revenue at Rs 792,756 crore ($104.6 billion), up 47%.
2) Annual consolidated EBITDA at Rs 125,687 crore ($16.6 billion), up 28.8%.
3) Annual consolidated profit after tax at Rs 67,845 crore ($9.0 billion), up 26.2%.
5) Annual revenue for retail business nearly Rs 200,000 crore.
5) All-time high annual EBITDA for retail business at Rs 12,423 crore ($1.6 billion).
6) Annual revenue for digital services crosses Rs 100,000 crore.
7) Annual EBITDA of digital services business at Rs 40,268 crore ($5.3 billion).
8) Annual EBITDA of oil and gas business at Rs 5,457 crore ($720 million), highest in seven years.
Mukesh Ambani, Chairman and Managing Director of Reliance Industries, said despite the ongoing challenges of the pandemic and heightened geopolitical uncertainties, Reliance delivered a robust performance in 2021-22.
“Our O2C business has proven its resilience and has demonstrated strong recovery despite volatility in the energy markets. Our relentless focus on customer satisfaction and service has led to higher engagement and increased footfalls, driving robust revenue and earnings figures across our consumer businesses,” he said.
Ambani said the gradual opening up of economies coupled with sustained high utilization rates across sites and the improvement in transportation fuel margins and volumes have bolstered its O2C earnings.
He also said Reliance Retail has crossed the 15,000-store benchmark and JioFiber is now the largest broadband provider in India within two years of launch.
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