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The consolidated net profit of Reliance Industries Ltd (RIL) — the oil-to-telecom conglomerate owned by Mukesh Ambani — rose 9.8 per cent in the January-March quarter to ₹10,362 crore, helping the company post a net profit of over ₹10,000 crore for the second straight quarter in FY19.
The fourth-quarter net profit was boosted by a 19.4 per cent jump in revenue to ₹1,54,110 crore from a year ago. The consolidated net profit was ₹9,438 crore on revenue of ₹1,29,120 crore in the fourth quarter of FY18.
For the full year, RIL posted a net profit of ₹39,588 crore, an increase of 13.1 per cent over the ₹34,988 crore reported in FY18. The firm’s revenue rose 44.6 per cent to ₹6,22,809 crore in FY19 from ₹4,30,731 crore in FY18. The revenue growth for FY19 was led by the retail and digital services businesses, which grew by 51.6 per cent and 61.6 per cent, respectively, and higher petrochemical volumes.
“During FY 2018-19, we achieved several milestones and made significant strides in building Reliance of the future. Reliance Retail crossed the ₹100,000-crore revenue milestone, Jio now serves over 300 million consumers and our petrochemicals business delivered its highest-ever earnings,” Mukesh Ambani, Chairman and Managing Director, Reliance Industries, said in a statement.
Ambani said that RIL posted record consolidated net profit of ₹39,588 crore during the year despite “heightened volatility in the energy markets”. The company’s PBDIT has more than doubled in the last five years to ₹92,656 crore – establishing a global benchmark for value creation – he added.
RJio posts ₹840-cr net
Reliance Jio Infocomm (RJio), RIL’s wholly-owned subsidiary, posted a 64.7 per cent rise in fourth-quarter net profit at ₹840 crore, compared with ₹520 crore recorded for the same period a year ago. This is the sixth consecutive quarter of profits, while the operator also garnered 306.7 million users.
“There has been a tremendous activity on the network, customer engagement has gone up to 10.9 GB per month, and voice has gone up to 823 minutes per user, per month. So, tremendous activity and the network is supporting all of that,” Anshuman Thakur, Head of Strategy and Planning at RJio, said.
For the full-year ended March 31, the company has posted a net profit of ₹2,964 crore, compared with ₹723 crore the previous year.
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