Q4 results: RIL posts record profit of Rs 94.35 bn; Jio's net at Rs 5.10 bn

Strong showing by petchem, retail offsets refining margin dip

Mukesh Ambani-led Reliance Industries (RIL) reported a consolidated net profit of Rs 94.35 billion for the quarter ending March 31 (Q4) on the back of improved performance of its petrochemical and retail businesses. The profit was largely in line with the consensus estimates of Rs 93.79 billion according to a Bloomberg poll of analysts, and represents a 17.3 per cent increase over Rs 80.46 billion reported in the year ago quarter.

The company’s refining business saw some weakness, which though was compensated by the petrochemical and retail businesses. Jio, its telecom business, posted in-line performance for the quarter.

The oil-to-telecom conglomerate’s consolidated