RIL Q4 profit jumps 17.3% to Rs 9,435 cr
Reliance Industries Ltd (RIL) on Friday reported a 17.3 per cent increase in its consolidated net profit at Rs 9,435 crore for the quarter ending March 2018, as against Rs 8,046 crore achieved during
Published: 28th April 2018 01:46 AM | Last Updated: 28th April 2018 03:04 AM | A+A A-
MUMBAI: Reliance Industries Ltd (RIL) on Friday reported a 17.3 per cent increase in its consolidated net profit at Rs 9,435 crore for the quarter ending March 2018, as against Rs 8,046 crore achieved during the corresponding period a year ago. Revenue too shot up 39 per cent at Rs 1,29,120 crore compared to Rs 92,889 crore during the same period.For the full year, consolidated profit grew 21 per cent at Rs 36,075 crore compared to Rs 29,901 crore in FY17, while consolidated revenue shot up 30.5 per cent to Rs 4,30,731 crore up from Rs 3,30,180 crore.
According to RIL, the increase in revenue was primarily on account of higher volumes with start-up of petrochemicals projects and uptrend in prices of products in refining and petrochemical businesses. Revenue also got a leg up from growth in retail and digital services business, with the former registering 105 per cent surge in revenue at Rs 69,198 crore.
“The year (2017-18) was a landmark year for Reliance, where we established several records on both operating and financial parameters. Reliance has become the first Indian company to record PBDIT of over $10 billion with each of our key businesses — refining, petrochemicals, retail and digital services achieving record earnings performance,” said Mukesh D Ambani, CMD, RIL.
However, gross refining margin, which is what the company earns while turning every barrel of crude into fuel, fell to $11 per barrel during the March quarter as against $11.6 in the December quarter. Exports (including deemed exports) from India during the March quarter shot up by 32.5 per cent at Rs 51,295 crore during the March quarter.
Jio quarterly net profit at `510 crore
Reliance Jio Infocomm reported its second quarterly net profit at `510 crore for the quarter ended March, 2018, but marginally up from `504 crore in the previous quarter. The telecom industry’s latest entrant garnered 15 per cent market share, but its average revenue per user fell to `137 during the March quarter, as against the industry high of `156.
