Reliance Industries records Q4 profit of Rs 21,243 cr; Full-year revenue hits Rs 10 lakh crore mark

Apr 22, 2024

Mumbai (Maharashtra) [India], April 22 : Reliance Industries Limited (RIL) has reported a strong performance in the fourth quarter of the financial year, with a net profit of Rs 21,243 crore.
The conglomerate also announced a dividend of Rs 10 per share for its shareholders. The fourth-quarter revenue stood at 2.41 lakh crore.
For the full year, RIL's revenue rose by 2.6 percent to Rs 10 lakh crore, showcasing consistent growth across its various business segments.
Mukesh D. Ambani, Chairman and Managing Director of Reliance Industries Limited, commented on the results, stating, "Reliance became the first Indian company to cross the Rs 100,000-crore threshold in pre-tax profits. The KG-D6 block has achieved 30 MMSCMD of production and now accounts for 30 per cent of India's domestic gas production."
Ambani also highlighted the significant achievement of the KG-D6 block, which has achieved 30 MMSCMD of production and now accounts for 30 per cent of India's domestic gas production.
In the quarter ended March 31, consolidated EBITDA (earnings before interest, taxes, depreciation, and amortization) rose by 14.3 per cent to Rs 47,150 crore compared to the same period last year.
The oil and gas business witnessed robust growth of 47.5 per cent year-on-year, while the retail business reported an 18.5 per cent increase in EBITDA.
Reliance Jio, the telecom arm of RIL, added 10.9 million subscribers during the fourth quarter. The rapid rollout of the 5G network significantly boosted subscriber growth, with over 108 million users migrating to 5G.
Despite substantial capital expenditure of Rs 23,207 crore in the fourth quarter, RIL's cash profit stood at Rs 37,769 crore, covering the expenditure comfortably.
The company's four main segments--Oil to Chemicals (O2C), Oil & Gas, Retail, and Jio--have all reported robust operating performance.