Mukesh Ambani-led Reliance Industries Ltd (RIL) on Friday reported consolidated net profit of 13,227 Rs crore for the quarter ended March 31, 2021 (Q4FY21), up 108 per cent from Rs 6,348 crore logged in the corresponding quarter last year (Q4FY20).
Sequentially, the profit rose 1 per cent. It was Rs 13,101 crore in the December quarter (Q3FY21). The company's board declared a dividend of Rs 7 per share for the financial year 2020-21.
The oil-to-telecom conglomerate's revenue from operations rose 11 per cent to Rs 1.54 trillion as compared to Rs 1.39 trillion in the year-ago period.
"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.," said Mukesh Ambani, Chairman of Reliance Industries.
A Bloomberg estimate pegged the company’s top line at Rs 1.39 trillion in the March quarter, while the bottom line was seen at Rs 13,704 crore.
"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. And while Covid-19 has disrupted livelihoods, we have added nearly 75,000 jobs to the economy, while ensuring the health and safety of our employees and their families," Ambani said.
Segment wise, the revenues in the dominant oil-to-chemicals (O2C) business rose 4.4 per cent to Rs 1.01 trillion in Q4FY21 from Rs 96,732 crore in the same period last year (Q4FY20).
Meanwhile, the revenues from digital services came in at Rs 22,628 crore as against Rs 19,153 crore in the same quarter last year, a rise of of per cent. The revenues of the company's retail business were at Rs 41,296 crore for the quarter under review.
Jio Platforms clocked a net profit of Rs 3,508 crore for the quarter under review, up by 47 per cent as compared to Rs 2,379 crore in the year-ago period. Its revenue from operations came in at Rs 18,278 crore.
During the quarter, Jio reported a strong customer gross addition at 31.2 million (a net addition of 15.4 million) with improved traction across mobility and homes. Gross subscriber addition was 99.3 million during FY21 despite Covid-related challenges.
Jio's ARPU during the quarter came in at Rs 138.2 per subscriber per month as against Rs 151.0 per subscriber per month in the trailing quarter.
Ahead of the results today, RIL's scrip closed 1.46 per cent lower at Rs 1,994.5 on NSE.
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