RIL logs highest ever quarterly profit as Jio helps boost Q4 FY18 net 17% to Rs 9,435 crore

By: |
Updated: April 27, 2018 7:27 PM

RIL Q4 Results 2018: Mukesh Ambani’s Reliance Industries on Friday reported a 17.3% jump in its fourth-quarter net profit year-on-year at Rs 9,435 crore, beating street estimates by a tiny margin.

RIL Q4 Results 2018:RIL Q4 Results 2018: Mukesh Ambani’s Reliance Industries posted all-time high quarterly net profit.

RIL Q4 Results 2018: Mukesh Ambani’s Reliance Industries on Friday reported a 17.3% year-on-year jump in its fourth-quarter net profit to an all-time quarterly high of Rs 9,435 crore, helped by a substantial contribution from its new telecom venture Jio Infocomm. The net profit beat a Bloomberg estimate of Rs 9,347 crore. 

The company’s consolidated revenue for Q4FY18 at Rs 1,29,120 crore grew 39% on-year from Rs 92,889 crore reported in the same quarter last year, as recently commissioned petrochemicals plants poured in money for the giant. However, on the refining business side, RIL’s GRM at $11/bbl, which fell from $11.5/bbl on-year, seem to have disappointed as it was lower than estimated by TV news channel polls.

RIL said that the increase in revenue is primarily on account of volume increase with start-up of petrochemicals projects and oil price related increase in realizations for refining and petrochemical products. The growth in revenue also reflects robust growth of 134% in retail business and continuing growth momentum in wireless subscriber additions for digital services business, the company said. On the other hand, lower crude throughput in its refining business and lower output from its oil and gas exploration fields offset the strong performance of petrochemicals, retail and digital services businesses, it said.

RIL’s Chairman and Managing Director Mukesh Ambani sought to assure stakeholders that the company’s investments in building its retail and telecom distribution networks are coming to bear fruit. “We have established strong foundations in retailing and digital services business with world-class supply chain management and network infrastructure which will serve our customers well,” Mukesh Ambani said.

Consolidated Net Profit

RIL’s net profit in the fourth quarter of the fiscal year 2017-18 was Rs 9,435 crore vs Rs 8,046 crore, up 17% on-year.

Consolidated Revenue

Mukesh Ambani-led conglomerated reported a consolidated revenue of Rs 129,120 crore vs Rs 92,889, up 39% on-year.

Consolidated PBDIT

RIL’s PBDIT in the fourth quarter was Rs 20,664 crore vs Rs 14,164 crore, up 45.9% on-year

Gross Refining Margin (GRM)

The company’s Gross Refining Margin (GRM) in the fourth quarter was $11/bbl vs $11.5/bbl on-year

Refining and Marketing Business

  • The business reported a revenue of Rs 93,519 crore vs Rs 72,045 crore, up 28.9% on-year primarily on account of higher crude prices during the year.
  • The business’ EBIT was Rs 5,607 crore vs Rs 6,294 crore, down 10.9% on-year.

Petrochemical Business

  • The Petrochemical business reported a revenue of Rs 38,113 crore vs Rs 26,478 crore, up 43.9% on-year primarily due to higher volumes from new Paraxylene, ROGC and it’s downstream units.
  • The business’ EBIT was Rs 6,435 crore vs Rs 3,441 crore, up 87% on-year.

Oil and Gas (Exploration and Production Business)

  • The business reported a revenue of Rs 746 crore vs Rs 1,309 crore, down 43.0% on-year as volumes from conventional fields and US shale was lower on account of the natural decline and slowdown in development activity.

Reliance Industries share price crossed the Rs 1,000 mark in the early trade on Friday ahead of the fourth quarter earnings report.

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, Check out latest IPO News, Best Performing IPOs, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1Vantage Circle: Keeping employees happy
2Breaking Ground: New rules see more women directors, but few are in executive roles
3Q4 Earnings: Top-line growth, cost cut drive earnings; metals pack, IT firms turn in stellar numbers