23-Apr-2024
2 mins read
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India’s largest conglomerate, Reliance Industries (RIL), released its FY24 Q4 results on Monday, 22 April 2024. RIL reported a consolidated net profit of Rs 18,951 crore for the quarter ended March 2024. It was Rs 19,299 crore in the year-ago period, a 2% fall on a YoY basis.
Revenue from operations increased 11% year over year to Rs 2.4 lakh crore, compared with Rs 2.16 lakh crore in the same period last year.
RIL’s operating profit recorded a strong growth of 14% YoY to Rs 47,150 crore, while margin expanded 50 basis points to Rs 17.8%. Company’s BOD has approved a dividend of Rs 10 per share for FY24.
RIL’s Oil to Chemical Business
O2C business recovered well during the quarter by reporting a revenue growth of 11% YoY to Rs 1.42 lakh crore. It was mainly led by improved realisation for transportation of fuel segments and higher volumes.
The business's EBITDA marginally increased 3% YoY to Rs 16,777 crore. This is supported by advantageous feedstock sourcing, ethane cracking, and higher domestic product placement.
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RIL’s Jio Platforms
Reliance Jio reported an operating growth of Rs 13% on YoY basis to Rs 28,871 crore, driven by the strong subscriber growth across mobility and homes.
Segment’s EBITDA for the quarter was at Rs 14,360 crore, an increase of 12% on year-on-year basis. The net profit rose 12 % YoY to Rs 5,583 crore.
RIL’s Retail
The retail business recorded a gross revenue of Rs 3.06 lakh crore for FY24, showing a growth of 17.8% over last year.
In Q4, revenue jumped 11% on YoY basis to Rs 76,627 crore, led by growth in consumer electronics, Fashion and lifestyle.
Annual profit of Retail arm stood at Rs 11,101 crore, In Q4 profit grew 12% YoY to Rs 2,698 crore. EBITDA for the quarter is Rs 5,823 crore, which was up by 18% on a year-on-year basis.
RIL’s Oil and Gas Segment
Revenue for the Q4 increased by 42% compared to Q4 FY23, mainly due to high volumes, partially offset by the lower price realisation from KG D6 Field.
RIL’s Media and New Business
Reliance’s media business recorded a strong operating and financial performance across verticals during the quarter. Revenue from operation was up by 63% YoY to Rs 2,419 crore driven by sports, movies and news articles.
The revenue from the new business increased 25% YoY, driven by strong growth in advertising revenue of both TV and digital platforms.
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