NEW DELHI: India’s most valuable company Reliance Industries (RIL) on Friday posted a 22.50% year-on-year (YoY) increase in consolidated net profit at Rs 16,203 crore as compared to Rs 13,227 crore in the same quarter last year.
The PAT for RIL in the March ended quarter was not only below analysts’ expectations but also lower than net profit of Rs 18,549 crore the firm had reported in third quarter. Revenue from operation for Reliance rose 36.79% YoY to Rs 211,887 crore compared with Rs 154,896 crore in the corresponding quarter last year. In the third quarter, the same was at Rs 191,271 crore. RIL’s gross revenue in Q4FY22 came at Rs 257,308 crore. The co’s operating margin for the quarter came in at 10.1% compared with 10.6% in the December quarter and 9.5% in the year-ago quarter.
For FY22, RIL reported a record-high gross revenues of Rs 7.92 lakh crore or $104.6 billion, becoming the first Indian company to hit $100-billion revenue mark. The Mumbai based conglomerate also posted record annual consolidated net profit of Rs 67,845 crore in FY22 from Rs 53,739 crore in FY21.
“Despite challenges of the pandemic and geo-political uncertainties, Reliance has delivered a robust performance in FY2021-22,” said Chairman and MD Mukesh Ambani. RIL’s performance during the quarter as well as the financial year was again dominated by its bread and butter oil-to-chemical (O2C) business.
Jio reports Rs 4,173 crore net profit in Q4
Mukesh Ambani-led-Reliance Jio reported a net profit of Rs 4,173 crore for the fourth quarter of the financial year 2022. The India’s largest telco had reported a net profit of Rs 3,360 crore in the year-ago period. Its consolidated profit for this quarter increased 23% to Rs 14,854 crore as against Rs 12,071 crore in the same quarter last year. Its EBITDA witnessed a growth of 27.4% to Rs 10,918 crore in the said quarter. The telco’s consolidated profit for the quarter increased 23% to Rs 14,854 crore as against Rs 12,071 crore in the same quarter last year. Similarly, the revenue from operations increased 20% to Rs 20,901 crore.