RIL Q4 net profit jumps 17.3% to Rs 9,435 crore

Mumbai: Reliance Industries today reported a 17.3 per cent jump in its fourth quarter net profit on the back of robust petrochemical margins and upstart telecom arm Jio’s maiden profits.

Its net profit of Rs 9,435 crore, or Rs 15.9 per share, in January-March was 17.3 per cent higher than Rs 8,046 crore, or Rs 13.6 a share, posted in the same period a year ago.

On a sequential basis, the company’s net profit rise was only 0.1 per cent, RIL said in a statement.

The company, however, reported a record net profit of Rs 36,075 crore for the 2017-18 fiscal, up 20.6 per cent.

The firm’s telecom arm, Jio, reported a net profit of Rs 510 crore (on a quarterly basis) in the fourth quarter on a revenue of Rs 7,128 crore.

 

Highlights of Quarter’s performance(consolidated)
• Revenue increased by 39.0% to Rs 129,120 crore ($ 19.8 billion)
• PBDIT increased by 45.9% to Rs 20,664 crore ($ 3.2 billion)
• Profit Before Tax increased by 29.2% to Rs 13,246 crore ($ 2.0 billion)
• Cash Profit increased by 30.4% to Rs 15,408 crore ($ 2.4 billion)
• Net Profit increased by 17.3% to Rs 9,435 crore ($ 1.4 billion)

 

Highlights of Quarter’s performance(standalone)
• Revenue increased by 21.8% to Rs 90,894 crore ($ 13.9 billion)
• Exports increased by 32.5% to Rs 51,295 crore ($ 7.9 billion)
• PBDIT increased by 26.8% to Rs 16,046 crore ($ 2.5 billion)
• Profit Before Tax increased by 19.0% to Rs 11,907 crore ($ 1.8 billion)
• Cash Profit increased by 14.4% to Rs 12,375 crore ($ 1.9 billion)
• Net Profit increased by 6.7% to Rs 8,697 crore ($ 1.3 billion)
• Gross Refining Margin (GRM) of $ 11.0/bbl for the quarter

 

Corporate highlights for the quarter(4Q FY18)
• J3, one of the world’s most complex and highly integrated project, is nearly complete and has redefined refining and petrochemicals integration.

• RIL announced strategic transaction with Saavn to form India ’s largest platform for music, media a nd artists through its digital music service, JioMusic. The combined entity is valued at over US$1billion, with JioMusic’s implied valuation at US$ 670 million.

• RIL acquired 5% equity stake in NYSE listed Eros International  PLC at a price of US$15 per share. RIL and Eros International Media Limited (“Eros India”) announced that they will equally invest up to ` 1,000 crore to co-produce and consolidate content.

• Reliance Retail further strengthened its presence through its partnerships. During the year,Reliance Brands acquired 46.6% stake in Genesis Luxury Fashion Pvt Ltd. Genesis Luxury is a leading player in the business of Luxury apparel and accessories retailing for some of the leading
international Luxury brands like Armani, Canali, Michael Kors etc. Genesis Luxury exclusively retails the products for these Brands in India thorough a chain of Exclusive Brand Outlets (EBOs).

• Network18 subsidiary TV18 Broadcast Ltd. took operational control and increased its stake in Viacom18 to 51% by acquiring 1% equity from JV partner Viacom Inc. This shall drive value addition and synergies across the multi-platform group comprising broadcast, digital, filmed and
experiential entertainment and media businesses. Pursuant to this acquisition, Viacom18 and the distribution arm IndiaCast Media Distribution Private Limited are being consolidated into TV18(and hence,Network18) financials from 1st March 2018.

 

• Reliance Jio Infocomm Ltd. (Jio) along with its technology partner Cisco won the “Best M ob ileOperator Service for Consumers” award at the prestigious Global Mobile (GloMo) Awards 2018at Mobile World Congress (MWC). In addition, JioTV app won in the ‘Best Mobile Video Content’
category for JioTV enabling Jio Digital Life.

• Reliance Jio, India’s premiere mobile and digital services provider earned the number 17 spot onthe  glob al list, and also ranked at number one for Most Innovative Companies in India by FastCompany.

• Jio TV was awarded “India digital ri ghts” of the Olympic Winter Games PyeongChang 2018 by the International Olympic Committee (IOC).

• The World Economic Forum announced establishing a  new Center for the Fourth Industrial Revolution in Mumbai, India in partnership with RIL.

• RIL was presented with the ‘Drivers of Change’ award at the Financial Times ArcelorMittal Boldness in Business Awards providing recognition for RIL’s exceptional commitment to innovation-led exponential growth and bringing transformational changes to India.

 

Commenting on the results, Mukesh D. Ambani, Chairman and Managing Director, Reliance Industries Limited said: “FY 2017-18 was a landmark year for Reliance where we established several records on both operating and financial parameters. Reliance has become the first Indian
company to record PBDIT of over US$ 10 billion with each of our key businesses – Refining,Petrochemicals, Retail and Digital Services achieving record earnings performance. Substantial synergies, productivity gains and production growth in our energy and materials business has allowed us to perform at very competitive levels despite the uptrend in oil prices through the year.We have established strong foundations in retailing and digital services business with world-class supply chain management and network infrastructure which will serve our customers well. It is very heartening to see the traction our service offerings are gaining, with discerning Indian consumers. The growing Indian market provides exciting opportunities to scale-up these businesses and maximize long-term shareholder value in the coming years.”

 

DeshGujarat