Mukesh Ambani-led Reliance Industries Limited on Wednesday reported 9.8 per cent year-on-year growth in its consolidated net profit at Rs 10,362 crore for the fourth quarter ended March 31, 2019.
"The company had posted consolidated net profit of Rs 9,438 crore in the same quarter last year," RIL said in a filing to the Bombay Stock Exchange.
The company's revenue grew by 19.4 per cent to Rs 1,54,110 crore in March quarter from Rs 1,29,120 crore in the year-ago period, driven by strong growth in retail and digital services businesses which grew by 51.6 per cent and 61.6 per cent, respectively. Higher petrochemical volumes also contributed to growth in revenue.
"RIL's consolidated revenue was also improved on account of robust growth in Retail and Digital Services business. Retail business and Digital Services business recorded an increase of 88.7% and 94.5% in revenue as compared to previous year," RIL said.
Operating profit before other income, depreciation and exceptional items increased by 12.7 per cebt to Rs 20,832 crore from Rs 18,477 crore in the corresponding period of the previous year.
For the financial year 2018-19, RIL's net profit jumped 13.1 per cent to Rs 39,588 crore, while revenue climbed by 44.6 per cent to Rs 622,809 crore from the previous fiscal, helped by higher realization for refining and petrochemical products with a 22 per cent increase in average Brent Crude Price on yoy basis.
Commenting on the results, Mukesh D. Ambani, Chairman and Managing Director, Reliance Industries Limited said: "During FY 2018-19, we achieved several milestones and made significant strides in building Reliance of the future. Reliance Retail crossed Rs 100,000 crore revenue milestone, Jio now serves over 300 million consumers and our petrochemicals business delivered its highest ever earnings. I am proud of the entire Reliance team; their hard work and dedication has laid the foundation for these achievements and many more to come. The Company has delivered record consolidated net profit of Rs 39,588 crore for the year in a period of heightened volatility in the energy markets. I am delighted to highlight that our Company has more than doubled its PBDIT in last five years to Rs 92,656 crore - establishing a global benchmark for value creation.
"Focus on service and customer satisfaction led to higher numbers of subscribers and footfalls across our consumer businesses, driving robust revenue growth. Our endeavour is to create better experiences for our customers, leading to a better shared future," he added.
The board of RIL also recommended a dividend of Rs 6.50 per equity share of Rs 10 each for the financial year ended March 31, 2019.
Ahead of Q4 earnings, Reliance Industries share closed trade at Rs 1,382.90, up 2.79 per cent, on the Bombay Stock Exchange.
Edited by Chitranjan Kumar
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