Reliance Industries said that its consolidated net profit stood at Rs 21,243 crore in Q4 FY24, marginally higher from Rs 21,227 crore posted in corresponding quarter last year.
Gross revenue jumped 10.8% to Rs 264,834 crore in Q4 FY24 as compared with Rs 238,957 crore in Q4 FY23. The revenue growth was supported by double-digit growth in O2C and consumer business.EBITDA stood at Rs 47,150 crore in Q4 FY24, registering the growth of 14.3% as compared with Rs 41,252 crore posted in same quarter last year. EBITDA margin expanded by 50 bps to 17.8% in Q4 FY24 as against 17.3% in Q4 FY23.
Capital expenditure for the quarter ended 31 March 2024, was Rs 23,207 crore.
Mukesh D. Ambani, chairman and managing director, Reliance Industries said: I am happy to share that this year, Reliance became the first Indian company to cross the ₹ 100,000-crore threshold in pre-tax profits.
Performance of the digital services segment has been boosted by accelerated expansion of subscriber base, supported by both mobility and fixed wireless services. From upgrading the hitherto 2G users to smartphones, to leading the effort of producing AI-driven solutions, Jio has proved its capability in strengthening the nations digital infrastructure.
Reliance Retail continued to provide customers endless choices through its robust omni-channel presence. We continue to offer product differentiation and superior offline experience through stores remodelling and revamping of layouts. Our digital commerce platforms also provide newer solutions to users with a broad brand catalogue. Reliance Retail also works towards strengthening millions of merchants through its unique initiatives in new commerce space.
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% of Indias domestic gas production.
Jio Platforms :
Jio Platforms consolidated net profit jumped 12% to Rs 5,583 crore in Q4 FY24 as compared with Rs 4,984 crore in Q4 FY23. Revenue from operations increased 13.4% YoY to Rs 28,871 crore in Q4 FY24. The growth continued to be driven by robust subscriber growth across mobility and homes, and the benefit of mix improvement in ARPU.
In Q4 FY24, EBITDA stood at Rs 14,360 crore, up 13.4% from Rs 12,767 crore posted in same quarter last year, primarily led by healthy revenue growth and operating leverage.
During the quarter, average revenue per user (ARPU) rose 1.6% YoY to 181.7 with better subscriber mix partially offset by increasing mix of promotional 5G traffic, offered unlimited to subscribers and not yet charged separately.
Total customer base increased 9.7% to 481.8 million in Q4 FY24 as compared with 439.3 million in Q4 FY23. Total data traffic was 40.9 billion GB during the quarter, registering a growth of 35.2% on YoY basis. Total voice traffic was 1.44 trillion minutes during the quarter; 9.7% growth YoY.
Akash M Ambani, chairman of Reliance Jio Infocomm, said, Jio continues to maintain its network leadership and offer innovative digital solutions to multiple customer cohorts. This is driving consistent outperformance in terms of subscriber additions and engagement levels. Continued acceleration in growth of JioAirFiber subscriber base and ramp-up of digital services will sustain industry-leading growth for Jio.
Reliance Retail:
Consolidated Reliance Retail net profit jumped 11.7% to Rs 2,698 crore on 9.8% increase in Revenue from operations to Rs 67,610 crore in Q4 FY24 over Q4 FY23. The said growth in revenue was led by growth in consumer electronics and fashion & lifestyle.
EBITDA stood at Rs 5,823 crore in Q4 FY24, registering the growth of 18.5% as compared with Rs 4,914 crore in Q4 FY23.
The business expanded its store network with 562 new store openings with gross area addition of 7.8 million sq. ft.
The quarter recorded footfalls of over 272 million across formats, a growth of 24.2% YoY.
Consumer Electronics business sustained growth momentum led by ABV growth & improved conversions. New commerce business through JioMart Digital (JMD) continued its growth journey and expanded its merchant partner base by 20% Y-o-Y.
Under Fashion & Lifestyle business, AJIO continued to improve its value proposition as it strengthens its catalogue further. The platform added several new brands and launched new app features to enhance customer experience. Premium brands continued to lead premium and luxury segment with widest portfolio of brands with 20.0% Y-o-Y growth. Ajio Luxe delivered steady performance during the period with options growing by 44.0% Y-o-Y.
Jewels business delivered steady performance despite increase in gold prices. The business continued its focus on strengthening product offering through launches on key occasions during the quarter.
Grocery business delivered another quarter of steady performance led by Smart & Smart Bazaar. The business is expanding its portfolio by offering premium products and evolving categories like international food, body mist, serums etc to serve discerning customers.
JioMart delivered steady performance during the quarter with expansion of seller base, up 94% Yo-Y and live selection up 32% Y-o-Y. The platform witnessed growth in sessions and GMV led by sales events like Holi Ready & Republic Day.
Consumer Brands business continues to scale-up, growing 3x Y-o-Y in general trade. Strong traction on Campa and Independence brands driving growth of beverage and staples categories. Acquired Ravalgaon IP rights including trademarks, recipe etc. relating to sugar boiled confectionery and partnered with Sri Lanka based beverage maker Elephant House, to manufacture and sell beverages under the Elephant House brand across India with reciprocal rights to sell Campa in Sri Lanka.
Isha M. Ambani, executive director, Reliance Retail Ventures, said, Reliance Retail continues to deliver steady performance led by growth across consumption baskets. We continue to invest and innovate across formats and products to improve our customer value proposition and serve evolving consumer needs. Robust expansion and growth of our retail business signifies our commitment to customer centricity and confidence in Indias consumption story.
Oil to Chemical (O2C):
Revenue for Q4 FY24 increased by 10.9% YoY to Rs 142,634 crore ($17.1 billion) primarily on account of improved realization for transportation fuels segment and higher volumes.
Segment EBITDA for Q4 FY24 marginally increased by 3.0% Y-o-Y to Rs 16,777 crore ($2.0 billion) supported by advantageous feedstock sourcing, ethane cracking and higher domestic product placement.
During the quarter, total throughput was flat to 19.8 MT as compared with Q4 FY23.
Oil & Gas (EXPLORATION & PRODUCTION):
4Q FY24 revenue is higher by 42.0% as compared to 4Q FY23 mainly on account of higher volumes partly offset by lower price realisation from KG D6 Field.
EBITDA increased to Rs 5,606 crore which is up by 47.5% on Y-o-Y basis. EBITDA margin was at 86.7% for 4Q FY24.
The average price realised for KG D6 gas was $ 9.53/MMBTU in 4Q FY24 as against $11.39/MMBTU in 4Q FY23. The average price realised for CBM gas was $ 14.34/MMBTU in 4Q FY24 as against $ 19.57/MMBTU in 4Q FY23.
Media Business:
Media business recorded a strong operating and financial performance across verticals during the quarter. Revenue from operations was up by 63.0% Y-o-Y to ₹ 2,419 crore, driven by Sports, Movies and News verticals.
Consolidated EBITDA of the Group was impacted by continued investments in Sports and Digital verticals of Viacom18, the leading drivers of revenue growth for the foreseeable future.
News business revenue was up 25% Y-o-Y, driven by the strong growth in advertising revenue of both TV and Digital Platform
Viacom18 revenue grew 83% Y-o-Y led by sports and movies segments. Sports revenue growth was primarily driven by 13 IPL matches held during the quarter, as the tournament kicked off earlier this year.
On financial year basis, the companys net profit increased 6.66% to Rs 79,020 crore in FY24 as compared with Rs 74,088 crore in FY23. Gross revenue was Rs 1,000,122 crore, up 2.6% YoY, supported by continued growth momentum in consumer businesses and upstream business.
Meanwhile, the company has declared a dividend of Rs 10 per equity share for FY 2024.
Reliance Industries (RIL) is India's largest private sector company. Its activities span hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, renewables (solar and hydrogen), retail and digital services.
The scrip fell 0.07% to Rs 2,958.50 on the BSE.
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