Reliance Industries’ fourth quarter net profit more than doubled to 13.227 crore rupees
Led by Mukesh Ambani Dependency industries Ltd (RIL) on Friday reported consolidated net profit of Rs 13,227 crore for the quarter ended March 31, 2021 (T4FY21), up 108% from Rs 6,348 crore in the corresponding quarter last year ( T4FY20).
Sequentially, profit increased 1 percent. It was Rs 13,101 crore in the December quarter (Q3FY21). The board of directors of the company declared a dividend of Rs 7 per share for fiscal year 2020-21.
The petroleum telecommunications conglomerate’s operating revenue rose 11 percent to 1.54 trillion rupees, from 1.39 trillion rupees a year ago.
“We have seen a strong recovery in the O2C and retail segment, and resilient growth in the digital services business. High and sustained utilization rates at all sites and improved downstream product deltas as well as transportation fuel margins contributed to O2C earnings growth. of Reliance Industries.
A Bloomberg estimate put the company’s top line at Rs 1.39 trillion in the March quarter, while the bottom line was estimated at Rs 13,704 crore.
“Our mainstream businesses have proven to be a digital and physical lifeline for the nation in these difficult times. Jio’s broadband connectivity services have enabled millions of Indians to work from home, study from home, and even receive health care at home. Reliance Retail ensured the secure supply of essential goods and services to clients’ homes. And while Covid-19 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.
By segment, revenues from the dominant petroleum-chemicals (O2C) business increased 4.4 percent to 1.01 trillion rupees in T4FY21 from Rs 96,732 crore in the same period last year (T4FY20) .
Meanwhile, digital services revenue came to Rs 22,628 crore from Rs 19,153 crore in the same quarter last year, a percent increase. Revenues from the company’s retail business were Rs 41,296 crore for the quarter under review.
Jio Platforms recorded a net profit of Rs 3,508 crore for the quarter under review, up 47% from Rs 2,379 crore the previous year. Its operating income was Rs 18,278 crore.
During the quarter, Jio saw a strong increase in gross customer base of 31.2 million (a net addition of 15.4 million) with improved traction in mobility and homes. The gross addition of subscribers was 99.3 million in FY21 despite challenges related to Covid.
Jio’s ARPU during the quarter amounted to Rs 138.2 per subscriber per month compared to Rs 151.0 per subscriber per month in the previous quarter.
Ahead of the results today RIL’s certificate closed 1.46 percent lower at Rs 1,994.5 on NSE.