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Reliance Industries Posts 17% Profit Growth in Q4, Jio Posts Profits Worth Rs 510 Crore

Consolidated quarterly revenues stood at Rs 1.29 lakh crore, up 39 per cent quarter on quarter. Earnings before interest, taxes, depreciation, and amortisation (EBITDA) rose 5 per cent QoQ to Rs 18,469 crore.

News18.com

Updated:April 28, 2018, 3:17 PM IST
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Reliance Industries Posts 17% Profit Growth in Q4, Jio Posts Profits Worth Rs 510 Crore
Jio's data consumption was a record 506 crore GB in Q4. (Representative Image: Reuters)
New Delhi: Oil-to-telecom conglomerate Reliance Industries reported a consolidated net profit of Rs 9,459 crore for the March quarter, up 17 per cent compared to the same quarter of the previous year.

Consolidated quarterly revenues stood at Rs 1.29 lakh crore, up 39 per cent quarter on quarter. Earnings before interest, taxes, depreciation, and amortisation (EBITDA) rose 5 per cent QoQ to Rs 18,469 crore. The operating margin was 15.8 per cent.

"FY2017-18 was a landmark year for Reliance where we established several records on both operating and financial parameters. Reliance has become the first Indian company to record PBDIT of over US$ 10 billion with each of our key businesses - Refining, Petrochemicals, Retail and Digital Services achieving record earnings performance," Mukesh Ambani, Chairman and Managing Director, Reliance Industries said.

Reliance Jio reported a profit of Rs 510 crore against Rs 504 crore in the December quarter. The average revenue per user (ARPU) was Rs 137.10, compared with Rs 154 in the previous quarter.

Revenues rose 3.6 per cent to Rs 7,128 crore against Rs 6,879 crore, and operating profit was up 2.5 per cent at Rs 2,694 crore against Rs 2,628 crore in the December quarter. Jio's data consumption was a record 506 crore GB data in Q4, a quarter-on-quarter increase of 17.4 per cent.

“The strong financial results of Jio in a competitive market environment demonstrates the robustness of the Jio business model and ability to offer the most value to our customers and partners. Jio has demonstrated that it can scale and sustain its strong financial performance,” added Ambani.

Among other segments, the EBIT for petrochemical business was Rs 6,435 crore against Rs 5,753 crore posted during the previous quarter. The petchem margin was 16.9 per cent against 17.1 per cent during the December quarter.

Its digital services segment reported a revenue of Rs 8,421 crore, up over 3.5 per cent from Rs 8,136 crore posted during the previous quarter. The EBIT for the quarter is Rs 1,495 crore, while the EBIT margin is reported at 17.7 per cent.

The refining business reported an EBIT of Rs 5,607 crore, down 9 per cent from Rs 6,165 crore from the December quarter. The consolidated EBIT margin for the quarter is 8.8 per cent against 8.1 per cent during the previous quarter. Gross refining margin stood at USD 11 per barrel, well within the range expected by most analysts.

The company’s retail segment saw 29 per cent growth in revenue at Rs 24,183 crore from Rs 18,798 crore reported during the previous quarter. Its EBIT has grown at a whopping 95 per cent at Rs 951 crore against Rs 487 crore in December. The retail margin came in higher at 4 per cent against 2.6 per cent during the previous quarter.

(Disclaimer: News18.com is part of Network18 Media & Investment Limited which is owned by Reliance Industries Limited)

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