Reliance Q4 Results: Profit rises 22% to Rs 16,203 crore, revenue grows 36%
- RIL reported a 22.5% growth in net profit at Rs 16,203 crore
- Revenue from operations has come in at Rs 2,11,887 crore
- Board has recommended a dividend of Rs 8 per equity share
Mukesh Ambani-owned oil to telecom conglomerate Reliance Industries Limited (RIL) reported a 22.5% growth in consolidated net profit at Rs 16,203 crore for the quarter ended March 31, 2022, following strong performance across its energy, telecom and retail segments. The company had posted a net profit of Rs 13,227 crore in the March 2021 quarter.
On a sequential basis, the company's profit declined 12.6% in March 2022 quarter from Rs 18,549 crore in the December 2021 quarter.
RIL's revenue from operations has come in at Rs 2,11,887 crore, up 36% from Rs 1,54,896 crore in the March quarter of the previous financial year. It has become the first Indian company to cross $100 billion in sales revenues.
The company board has recommended a dividend of Rs 8 per equity share of Rs 10 each for the financial year ended March 31, 2022.
RIL’s EBITDA stood at record Rs 1,25,687 crore ($16.6 billion), up by 28.8% YoY. EBITDA stands for earnings before interest, taxes, depreciation, and amortization.
Reliance Industries said that the continuance of the coronavirus (COVID-19) pandemic globally and in India is causing significant disturbance and slowdown of economic activity. The company's operations and revenue were impacted due to COVID-19. However, it added that during the year ended March 31, 2022, there is no significant impact of COVID-19 on the operations.
Reliance Jio posted a 24% growth in standalone net profit at Rs 4,173 crore for the March 2022 quarter compared with a net profit of Rs 3,360 crore in the March quarter of fiscal 2020-21.
The company’s average revenue per user (ARPU) during the reported quarter came in at TS 167.6 per subscriber per month, up 21.3% growth on a YoY basis and 10.5% on a QoQ basis.
RIL’s retail unit Reliance Retail posted a 23.2% growth in quarterly revenue and its digital services segment reported a 20.2% rise in quarterly revenue.
Reliance Industries added over 2.1 lakh employees across businesses with its consumer and technology business creating a large part of these new jobs.
Commenting on the results, Mukesh D. Ambani, Chairman and Managing Director, Reliance Industries Limited said: “Despite the ongoing challenges of the pandemic and heightened geopolitical 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".
"Our relentless focus on customer satisfaction and service has led to higher engagement and increased footfalls, driving robust revenue and earnings figures across our consumer businesses. 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," he added.
Shares of Reliance Industries on May 6 closed 0.74% lower at Rs 2,621.15 apiece on BSE.