 "Reliance Industries, Reliance, RIL")
Oil-to-telecom conglomerate Reliance Industries Limited (RIL) on Monday reported a consolidated net profit of Rs 18,951 crore for the quarter that ended on 31 March 2024 (Q4FY24).
This was a 1.8 per cent decline in net profit compared to Rs 19,299 crore reported during the same period last year (Q4FY23), which was also the highest ever recorded consolidated net profit the company has ever achieved in a quarter.
The company reported a revenue of Rs 2,40,715 crore, up 11.3 per cent from Rs 2,16,265 crore reported during the same period last year.
Total expenses of RIL went up 11.45 per cent to Rs 2,17,529 crore from Rs 1,95,180 in Q4FY23.
Sequentially, RIL’s net profit rose 9.76 per cent from Rs 17,265 crore in Q3. Revenue from operations went up 5.59 per cent from Rs 2,27,970 crore reported in the last quarter, while expenses rose 5.6 per cent quarter-on-quarter from Rs 2,06,006.
For the entire financial year 2023-24, the company's gross revenue from operations stood at Rs 69,621 crore. This was a 4.37 per cent increase year-on-year from Rs 66,702 crore reported at the end of FY23.
Ebitda (earnings before interest, taxation, depreciation and amortisation) for RIL increased by 16.1 per cent Y-o-Y to Rs 1,78,677 crore, aided by "positive contribution from all key operating segments," the company said.
Ebitda (earnings before interest, taxation, depreciation and amortisation) for RIL increased by 16.1 per cent Y-o-Y to Rs 1,78,677 crore, aided by "positive contribution from all key operating segments," the company said.
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Revenue for FY24 was Rs 9,14,472 crore, up 2.6 per cent from Rs 8,91,311 crore at the end of last year.
Annual expenses went up 2.12 per cent to Rs 8,26,189 crore from Rs 8,09,023 reported the year before.
"Total Non-Convertible Debentures of the Group outstanding (before netting off prepaid finance charges and Fair Valuation Impact) as of 31 March 2024 are Rs 38,326 crore out of which, Secured Non-Convertible Debentures are Rs 22,000 crore," the company said in its exchange filing.
Commenting on the results, Mukesh D Ambani, chairman and managing director, RIL said, “Initiatives across RIL’s businesses have made a remarkable contribution towards fostering growth of various sectors of the Indian economy. It is heartening to note that alongside strengthening the national economy, all segments have posted a robust financial and operating performance. This has helped the Company achieve multiple milestones. I am happy to share that this year, Reliance became the first Indian company to cross the Rs 1,00,000-crore threshold in pre-tax profits."
"Strong demand for fuels globally, and limited flexibility in refining system worldwide, supported margins and profitability of the O2C segment. Downstream chemical industry experienced increasingly challenging market conditions through the year. Despite headwinds, maintaining leading product positions and feedstock flexibility through our operating model that prioritises cost management, we delivered a resilient performance. The KG-D6 block has achieved 30 MMSCMD of production and now accounts for 30 per cent of India’s domestic gas production," he added.
RIL board has recommended a dividend of Rs 10 per fully paid-up equity share of Rs 10 each for the financial year ended 31 March 2024, subject to the approval of members of the company at the ensuing Annual General Meeting of the Company.
Shares of Reliance Industries closed at Rs 2,962.90 on the BSE on Monday, ahead of the company's Q4FY24 results.
