On a consolidated basis, Reliance Industries (RIL) reported 20.2% increase in net profit to Rs 18,021 crore on 38.64% rise in net sales to Rs 207,375 crore in Q4 March 2022 over Q4 March 2021.
Profit before tax (PBT) rose 36.8% to Rs 22,411 crore in Q4 March 2022 over Q4 March 2021.EBITDA increased by 27.7% to Rs 33,968 crore from Rs 26,602 crore in the corresponding quarter of the previous year. EBITDA growth was driven by strong operating performance across businesses.
Finance cost decreased by 12.1% to Rs 3,556 crore as against Rs 4,044 crore in the corresponding quarter of the previous year. Lower finance costs reflect large paydown of debt and other liabilities.
Revenue of O2C was driven by improved price realization on the back of steep rise in crude oil prices and higher volumes. Retail segment revenues increased by robust performance with broad-based double-digit growth across all consumption baskets. Revenue of oil & gas segment increased primarily due to higher Gas price realization in KG D6 & CBM. Digital services revenues was primarily driven by higher ARPU and ramp up of wireline services.
For the year ended 31 March 2022, RIL achieved gross revenue of Rs 792,756 crore, as compared to Rs 539,238 crore in the previous year. EBITDA increased by 28.8% to Rs 125,687 crore from Rs 97,580 crore in the previous year, driven by robust operating performance across businesses. Profit after tax increased by 26.2% at Rs 67,845 crore as against Rs 53,739 crore in the previous year.
The company's board recommended a dividend of Rs 8 per equity share for the financial year ended 31 March 2022.
RIL's outstanding debt as on 31 March 2022 was Rs 266,305 crore. Cash and cash equivalents as on 31 March 2022 were at Rs 231,490 crore.
The capital expenditure (including exchange rate difference) for the year ended 31 March 2022 was Rs 99,472 crore and for year ended 31 March 2021 was Rs 79,667 crore. Additionally, Rs 45,880 crore were incurred towards acquisition of spectrum by Reliance Jio Infocomm (RJIL), India's largest 4G and mobile broadband digital service provider.
Mukesh D. Ambani, chairman and managing director, RIL said: "Despite the ongoing challenges of the pandemic and heightened geo-political uncertainties, Reliance has delivered a robust performance in FY2021-22. I am pleased to report strong growth in our Digital Services and Retail segments. Our O2C business has proven its resilience and has demonstrated strong recovery despite volatility in the energy markets.
The gradual opening up of economies coupled with sustained high utilization rates across sites and the improvement in transportation fuel margins and volumes have bolstered our O2C earnings.
I am pleased to report that our Retail business has crossed the 15,000 store benchmark. JioFiber is now the largest broadband provider in India within two years of launch. Oil and Gas business is now contributing 20% of domestic gas production."
CONSOLIDATED JIO PLATFORMS:
Quarterly operating revenue (net of GST) was Rs 22,261 crore, growth of 21.7%, driven by higher ARPUs and ramp-up of wireline services. Net profit for the quarter was Rs 4,313 crore, higher by 22.9% Y-o-Y.
EBITDA at Rs 10,918 crore, higher by 27.4% Y-o-Y driven by strong revenue growth and margin improvement. EBITDA Margin at 49.0%, increased 210 bps Y-o-Y led by ARPU increase in connectivity business.
ARPU during the quarter of Rs 167.6 per subscriber per month saw a healthy 21.3% growth on Y-o-Y basis and 10.5% growth on Q-o-Q basis, led by tariff hike, better subscriber mix and ramp-up of FTTH services.
Total customer base as on 31st March 2022 of 410.2 million. Total data traffic was 24.6 billion GB during the quarter; 47.5% growth Y-o-Y. Total voice traffic was 1.2 trillion minutes during the quarter; 16.8% growth Y-o-Y.
CONSOLIDATED RELIANCE RETAIL:
The business recorded gross revenue at Rs 58,017 crore, a growth of 23.3% Y-o-Y with broad based double-digit growth across all consumption baskets. Net profit for the quarter was Rs 2,139 crore, lower by 4.8% Y-o-Y.
EBITDA for the quarter recorded at Rs 3,705 crore, up 2.4% Y-o-Y. However, EBITDA before investment income grew 16.3% Y-o-Y to Rs 3,584 crore led by robust performance in Fashion & Lifestyle and Grocery consumption baskets.
The business continued to bolster its store network and strengthen its supply chain capabilities. It opened 793 stores and added 3.1 million sq ft of warehousing and fulfillment space during the quarter.
CONSOLIDATED OIL TO CHEMICALS (O2C):
Segment revenue for 4Q FY22 increased by 44.2% Y-o-Y to Rs 145,786 crore, primarily on account of higher realization on the back of sharp increase in crude oil prices - Brent crude prices were up 66.5% Y-o-Y to $ 101.4 /bbl. Product volumes was also higher by 4.2%, with steady recovery in demand.
Segment EBITDA for 4Q FY22 improved by 24.8% Y-o-Y to Rs 14,241 crore, led by multi-quarter high transportation fuel cracks, partially offset by lower polymer & intermediates margins and higher energy cost. Downstream product margins were impacted by weak naphtha cracking economics and supply over-hang in fibre intermediates.
EBITDA margin for the quarter declined by 150 bps Y-o-Y to 9.8%. This was primarily due to base effect driven by higher feedstock and product prices.
Total throughput (including refinery) was 19.3 MMT an increase of 3.2% over 4Q FY21.
OIL AND GAS (EXPLORATION & PRODUCTION):
Segment Revenues for 4Q FY22 increased by 136.8% Y-o-Y to Rs 2,008 crore. Segment EBITDA sharply increased to Rs 1,556 crore, with EBITDA margin of 77.5%. This was primarily due to higher gas price realization in KG D6 and CBM.
Average gas price realized for KGD6 was at $6.13/MMBTU in 4Q FY22 as against $3.99/MMBTU in 4Q FY21.
MEDIA BUSINESS:
Operating revenue grew 14.6% Y-o-Y to Rs 1,621 crore, driven by movies business and growth in ad revenues. EBITDA of Rs 266 crore, with operating margins of 16.4%.
Subscription based digital platforms, Voot Select and Moneycontrol Pro, continued to gain traction and grew their subscriber base.
RIL is a Fortune 500 company and the largest private sector corporation in India. Its activities span hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, retail and digital services.
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