RIL Q4 net rises 20% aided by a strong show across units
The Hindu
Oil and gas, refining post robust revenue increases helped by surge in energy prices
Reliance Industries Ltd. (RIL) reported fourth-quarter consolidated net profit rose 20% year-on-year to ₹18,021 crore, aided by strong performance across the conglomerate’s multiple businesses.
The refining to retail and telecom company's consolidated revenue for the three months ended March 31 increased by 35.1% to ₹2,32,539 crore, from ₹1,72,095 crore in the year-earlier period.
Full year revenue and earnings were boosted by the businesses spanning oil-to-chemicals (O2C), oil and gas, retail and digital services, RIL said.
FY22 consolidated revenue at ₹7,92,756 crore surged 47%, while net profit grew 26% to ₹67,845 crore.
Jio Platform Ltd. reported 17% growth in annual consolidated gross revenue at ₹95,804 crore. Consolidated net profit for the year increased 23.6% to ₹15,487 crore. Total data traffic at 91.4 billion GB, was up 46.3% from the previous year. The digital services revenue was primarily driven by higher ARPU and ramp up of wireline services, the company said.
Reliance Retail reported gross revenue of ₹1,99,704 crore for the full year, an increase of 26.7%. Net profit climbed 28.7% to ₹7,055 crore. The area of operation of the retail arm expanded to 41.6 million sq. ft from 33.8 million sq. ft a year earlier. Segment revenues increased considerably driven by broad based growth across all consumption baskets, RIL said.
RIL's net debt as at March 31 was at ₹34,812 crore. The board recommended a dividend of ₹8 per share.
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