Reliance Industries achieved several milestones, one of them being Reliance Retail becoming the first Indian retail company to top Rs 1 lakh crore revenue in FY19.
India’s most valued firm by market capitalisation Reliance Industries achieved several milestones in the year gone by, one of them being Reliance Retail becoming the first Indian retail company to top Rs 1 lakh crore revenue in FY19. The retail-arm of billionaire Mukesh Ambani Reliance Industries reported a total income of Rs 1,30,556 crore for 2018-19, 89% more than the previous year’s Rs 69,198 crore, the company said on Thursday. “During FY18-19, we achieved several milestones and made significant strides in building Reliance of the future. Reliance Retail crossed Rs 1,00,000-crore revenue milestone,” Mukesh Ambani, chairman of RIL, said. We take a look at key highlights from Reliance Industries results.
RIL’s quarterly profit above Rs 10,000 crore for second time in row
Reliance Industries on Thursday became the first Indian private sector company to report a quarterly profit of more than Rs 10,000 crore for the second time in a row, in the latest quarter. The oil-to-telecom behemoth reported a consolidated net profit of Rs 10, 362 crore in the fourth quarter ended 31 March, 2019. The Revenue rose by 19.4 per cent to Rs 154,110 crore.
Reliance Jio quarterly figures robust
Reliance Jio posted a profit of Rs 840 crore as against Rs 831 crore for the December quarter. The Mukesh Ambani-backed telco giant reported its sixth straight profitable quarter. The standalone revenue from operations for Rjio came in at Rs 11,106 crore (7.0 per cent QoQ growth). Standalone EBITDA grew to Rs 4,329 crore (6.8 per cent QoQ growth) and EBITDA margin of 39.0 per cent. Standalone Net Profit is recorded at Rs 840 crore. Subscriber base as on 31 March 2019 is at 306.7 million.
RIL’s record annual profit
RIL has reported record annual consolidated of Rs 39,588 crore ($ 5.7 BILLION), up 13.1% on year. The firm has also posted a record annual PBDIT of Rs 92,656 crore ($ 13.4 BILLION), up 26.8%. Notably, RIL achieved the highest annual EBIT for petchem, retail and digital services. The annual revenue and EBIT of digital services and retail business nearly doubled.
Reliance Retail in top 100 global retailers
Notably, Reliance Retail is the only Indian retailer to be in the top 100 global retailers list and the 6th fastest growing retailer globally as per the Global powers of retailing 2019, Deloitte. Currently, it operates 10,415 retail stores in over 6,600 cities covering an area of over 22 million square feet as on 31st March, 2019. Reliance Retail operates 516 petro retail outlets as on 31st March, 2019.
Jio’s growing subscriber base
Reliance Jio continues to add subscribers in the intensely competitive telecom space. The firm’s subscriber base surged to 306.7 million as of 31-March-2019. The net subscriber addition for the firm during the past twelve months was 120 million, which is the highest in the industry by a substantial margin, RIL said in a release. “Jio has become a service provider of choice across customer strata and seen unprecedented growth to market leadership (in terms of Adjusted Gross Revenue as published by TRAI),” said the media release.