Reliance Industries Q4 results: Net Profit more than double to Rs. 13,227 crores
Reliance Industries Q4 results: It is one of the largest multinational conglomerate companies in India located in Mumbai. The company provides services in petrochemicals, textiles, natural gas, media, and telecommunication across India. It is the first Indian company to reach $200 billion in market capitalization. The present Chairman and Managing Director (MD) of the company are Mukesh Ambani.
Meanwhile, on Friday, April 30th, the company posted its Q4 results for the financial year 2020-21. The companies consolidated net profit increased by 108.40% Year-on-Year (YoY) to Rs. 13,227 crores as against Rs. 6,348.00 crores in the same period last year. Moreover, the profits of the company during the previous quarter raised by 1% to Rs. 13,101 crores.
Whereas the companies total revenue from operations increased by 11% Year-on-Year (YoY) to Rs. 1.54,896 crores in Q4FY21. While the sequential growth in revenues reported at 24.90%.
“These are the most challenging times for India. However, our main intention is to help our country during the Covid crisis. We deployed our best resources to the country to fight against the Covid-19,” said Mukesh Ambani, Chairman and Managing Director of Reliance Industries.
Commenting on the results, the company reported a significant growth in O2C and retail segment. The companies digital business reported sustained growth. However, the companies sustained utilization of plants across the country and improvement in downstream products as well as transportation fuel margins helps O2C growth in Q4FY21, he added.
Besides, the companies consolidated EBITDA during the quarter increased by 1.90% QoQ to Rs. 26,602 crores. While the cast profit of the company increased by 6.50% QoQ to Rs. 22,746.00 crores.
During the financial year 2020-21, the companies consolidated net profit increased by 34.80% to Rs. 53,739 crores as against the previous quarter. But, the revenue from the operations during the quarter reported at Rs. 4,86,326 crores compared to Rs. 6,12,437 crores in the previous fiscal year.
Oil-to-Chemical Business:
The revenue of the company from the O2C business increased by 20.60% to Rs. 1,01,080 crores QoQ. While the companies EBITDA during the quarter increased by 16.90% to Rs. 11,407 crores. But, the margins of the company declined by 30 basis points (bps) to 11.30%.
In February, Mukesh Ambani announced the O2C business will be demerged into a wholly-owned subsidiary. The O2C business of the company offers refinery, marketing, and petrochemicals business.
Digital Services Business:
The companies revenue from digital service operations increased 18.90% YoY to Rs. 18,278.00 crores, but fell 6.10% sequentially. The net profit of Jio during the quarter stood at Rs. 3,508.00 crores.
While companies EBITDA increased 36.30% YoY to Rs. 8,573.00 crores, with margin expansion of 600 basis points (bps) and 300 bps at 46.90% in Q4FY21. The average revenue per user (ARPU) during the quarter declined to Rs. 138.20 per subscriber per month QoQ as against Rs. 151 per subscriber per month. The main reason for this the transition from Interconnect Usage Charges (IUC) that effective from January 1st, 2021.
Retail Business:
The companies revenue from the Retail business increased by 24% to Rs. 47,064.00 crores. While the operating profits of the company increased by 45% YoY to Rs. 2,247.00 crores in Q3 FY21.
Besides, the EBITDA of the company increased by 17% to Rs. 3,617.00 crores. The total gross revenue of the company during the financial year 2020-21 stood at Rs. 1,57,629 crores.
On the other side, the company announced a final dividend of Rs. 7 per equity share.
However, the shares of Reliance Industries Limited on Friday reported a bearish trend in the stock market. It lost 28.15 points with a 1.39% decrease and reached 1,995.90 INR. While in BSE, the company lost 28.75 points with a 1.42% decrease and reached 1,994.45 INR.
Stock Market on April 30th:
On Friday, both Sensex and Nifty reported a bearish trend in the stock market after bullish reports from the last four sessions of the market. The Sensex is trading below 48,800 levels and nifty trading below 14,700 levels in the stock market. The Sensex lost 983.58 points with a 1.98% decrease and reached 48,782.36 levels. While the nifty lost 263.80 points with a 1.77% decrease and reached 14,631.10 levels.
On the other side, the number of coronavirus cases in India on Saturday, May 1st reached 1,91,64,969 with almost 2,11,853 deaths.
In the border markets, the S&P BSE SmallCap index reported a bearish trend in the stock market on Friday. It lost 15.93 points with a 0.073% decrease and reached 21,670.11 levels. Whereas, the S&P BSE MidCap lost 133.24 points with a 0.65% decrease and reached a 20,312.20 level. While the Nifty Bank lost 932.70 points with a 2.77% decrease and reached 32,781.80 level.
Top Gainers on April 30th: ONGC, Coal India, Divi’s Laboratories, Grasim Industries, and IOC are the top gainers in today’s stock market.
Top Losers on April 30th: HDFC, HDFC Bank, ICICI Bank, Kotak Mahindra Bank, and Asian Paints are the top losers in today’s stock market.