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.
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, beating most analyst estimates. The oil-to-telecom conglomerate reported a consolidated net profit of Rs 10, 362 crore in the fourth quarter ended 31 March, 2019, the company said. CNBC TV18 had estimated the consolidated net profit at slightly below Rs 10,000 crore for RIL.
RIL’s revenue was recorded at Rs 1.38 lakh crore as against Rs 1.56 lakh crore in the December quarter. The revenue of the conglomerate was expected to fall in Q4 by nearly 4.4 percent to Rs 1.49 lakh crore from Rs 1.56 lakh crore from the December quarter, according to a poll by CNBC-TV18.
Indian Oil Corp (IOC), India’s largest company by sales, had posted the highest ever quarterly net profit by any company in the country. The state-run IOC had reported a net profit of Rs 14,512.81 crore in January-March 2013.
Reliance Industries Ltd’s gross refining margin — a key metric of its profitability from turning crude oil into petroleum products — fell slightly in the quarter to $8.2 per barrel from $8.8 per barrel in the previous quarter.
Key figures in nutshell
- Revenue rose by 19.4 per cent to Rs 154,110 crore
- PBDIT surged by 16.3 per cent to Rs 24,047 crore
- Profit Before Tax hiked by 4.6 per cent to Rs 13,858 crore
- Cash Profit rose by 6.1 per cent to Rs 16,349 crore
- Net Profit rose by 9.8 per cent to Rs 10,362 crore
In a period of escalated volatility in the energy markets, RIL has posted record consolidated net profit of Rs 39,588 crore for the given year, Mukesh Ambani, Chairman and Managing Director at Reliance Industries, said in a statement. The firm more than doubled its PBDIT in last 5 years to Rs 92,656 crore, he also said.
RIL stock closed at Rs1,386.05, up 42.30 points, or 3.15 per cent on BSE today.