Reliance Industries Q4 Earnings: Net Profit Falls 1.8%, Revenue Up 11%

Reliance Industries Ltd (RIL) announced a year-on-year (YoY) decrease of 1.8% in its net profit for the March quarter, reaching ₹18,951 crore, down from ₹19,299 crore in the corresponding quarter of the previous year.

The Mukesh Ambani-led company reported revenue from operations of ₹2.41 lakh crore for the quarter, a rise from ₹2.16 lakh crore in March FY23. EBITDA for the quarter came in at ₹47,150 crore, up 14.3% YoY.

RIL also announced a dividend of ₹10 per share.

Jio Platforms (JPL) saw its revenue rise by 11.7% year-over-year, driven by a significant subscriber increase of 42.4 million across mobility and home services, alongside an improved mix in Average Revenue Per User (ARPU). Jio reported an ARPU of ₹181.7, influenced by a better subscriber mix but tempered by the increasing amount of promotional 5G traffic, which is currently offered unlimited to subscribers without separate charges. Analysts expected the telco’s ARPU to remain between ₹181-184.

Reliance Retail Ventures Limited (RRVL) reported a 17.8% increase in revenue, spurred by robust growth across all consumption baskets, an addition of 15.6 million square feet in gross area, and a record-setting one billion footfalls. RRVL reported an 11.7% increase in net profit for the quarter ended March 31, 2024, compared to ₹2,415 crore a year ago.

However, the Oil to Chemicals (O2C) segment experienced a 5.0% decline in revenue, primarily due to lower product price realization influenced by a 13.5% annual drop in average Brent crude oil prices, though higher volumes partially offset this decline.

The Oil & Gas segment’s revenue surged by 48.0%, mainly driven by a 56.8% increase in volumes from the KG D6 block, despite lower gas price realization from the KG D6 field.

Ahead of the Q4 results scheduled for today, Reliance Industries stock closed 0.68% higher at ₹2,961.50 on Monday, reflecting a 14.35% increase on a year-to-date basis.

Read next: HDFC Bank Results Divide Analysts: How Good Or Bad Are Q4 Earnings, Really?

Don't miss a beat on the share market. Get real-time updates on top stock movers and trading ideas on Benzinga India Telegram channel.

Posted In: EarningsNewsReliance