Industrialist Mukesh Ambani-led Reliance Industries Limited's (RIL) consolidated net profit for the fourth quarter (January-March) of 2016-17 Fiscal moved up by 12.3 per cent, a company statement said here on Monday.
The company posted net profit of Rs 8,046 crore for the 2016-17 fourth quarter compared with Rs 7,167 crore clocked during the corresponding period in 2015-16.
RIL's turnover stood at Rs 92,889 crore for the fourth quarter of 2016-17, up 45.2 per cent compared with Rs 63,954 crore during same period a year ago.
"During FY 2016-17, the Reliance team shaped the contours of future growth platforms in the consumer and the energy and materials businesses. I am proud to be part of this gifted team that has strived tirelessly over the last few years to create unparalleled hydrocarbon assets, while ushering in the digital age to the remotest parts of our nation," said Mukesh D. Ambani, Chairman and Managing Director of RIL.
The company's net profit excluding exceptional items stood at Rs 8,046 crore for the fourth quarter compared with Rs 6,903 crore clocked during the same period in 2015-16. It was up by 16.6 per cent.
The annual consolidated net profit of the company stood at Rs 29,901 crore, up by 18.8 per cent on year-on-year basis, the company statement said.
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Earning per share in the fourth quarter saw a marginal rise at Rs 27.3 compared with Rs 25.5 in third quarter.
"Operationally, we continue to scale new heights. RIL generated its highest ever annual profits at Rs 29,901 crore, registering a growth of 18.8 per cent on y-o-y basis. Refining and petrochemicals businesses achieved record levels of profitability, underpinned by our ability to access feedstock competitively from global markets, maintain high operating rates and place products in growth markets," Ambani said.
"In digital services, the Jio movement is set to transform India. Jio is witnessing the largest migration from free to paid services in history. Jio is committed to provide its customers the highest quality and the world's most affordable data and voice services," he added.
Reliance Jio Infocomm, a subsidiary of RIL, achieved a subscriber base of 108.9 million on its network till March 31, 2017.
"Within a month of announcing the Jio Prime Offer, over 72 million Jio customers signed up for Jio Prime, making it one of the most successful customer privilege programmes anywhere in the world," the company statement said.
Reliance Jio's net loss stood at Rs 22.50 crore during October 2016 to March 2017 period. The whole financial year's loss was at Rs 31.37 crore.
"With more than 110 crore GB of data traffic per month and 220 crore voice and video minutes a day, Jio has become the largest network globally in terms of data carried and contributed to India becoming the leading country in the world for mobile data usage. Jio handles over 85 per cent of total data traffic in the country," RIL's Chief Financial Officer Alok Agarwal said on social media.
The capital expenditure for the year ended March 31, 2017, was Rs 114,742 crore ($17.7 billion), including exchange rate difference capitalization.
"Capital expenditure was principally on account of ongoing projects in the petrochemicals and refining business at Jamnagar, Dahej, Hazira, US Shale gas projects and Digital services business," the statement said.
During the quarter, Reliance completed world's largest and most complex ethane project. It commissioned ethane receipt and handling facilities and commenced ethane cracking at its Dahej manufacturing facility in Gujarat in less than three years, the statement added.
In March 2017, RIL commenced commercial production from its Coal Bed Methane (CBM) block Sohagpur (West).
"FY17 revenues for the Oil & Gas segment decreased by 30.9 per cent year-on-year to Rs 5,191 crore. The decline in revenue was led by lower upstream production and lower domestic gas price realisation," the company statement said.
Talking about RIL's retail store business, Agarwal said: "During the quarter, Reliance Retail added 63 stores across various store concepts. At the end of the year, Reliance Retail operated 3,616 stores across 702 cities with an area of over 13.5 million square feet."
RIL shares closed Monday's trading at Rs 1,416.40 up 1.19 per cent on the BSE.
--IANS
ag/vt
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