RIL Q4 net profit up 10% on strong performance in the petrochemicals, retail & digital businesses

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Mumbai: Mukesh Ambani controlled Reliance Industries (RIL) today reported a 9.8 percent growth in the fourth quarter consolidated net profit to Rs 10,362 crore. This was driven by a 19.4 percent increase in quarterly revenue to Rs 1.54 lakh crore.

Quarterly EBITDA was at Rs 20,832 crore, up 12.7 percent YoY, and operating margin stood at 15.02 percent. The company said the growth in operating profit was led by strong performance in the petrochemicals, retail and digital businesses.

The company’s board has recommended a dividend of Rs 6.50 per equity share of Rs 10 each for the financial year ended March 31, 2019.

Reliance Jio’s fourth-quarter net profit increased 64.7 percent year-on-year to Rs 840 from Rs 510 in the same quarter last year on standalone revenue of Rs 11,106 crore as compared to Rs 7,128 crore in Q4FY18, a jump of 55.8%. For the full financial year, Reliance Jio’s FY19 net profit was up 309 percent YoY to Rs 2,964 crore from Rs 723 crore.

“During FY 2018-19, we achieved several milestones and made significant strides in building Reliance of the future. Reliance Retail crossed Rs. 100,000 crore revenue milestone, Jio now serves over 300 million consumers and our petrochemicals business delivered its highest ever earnings. I am proud of the entire Reliance team; their hard work and dedication has laid the foundation for these achievements and many more to come. The Company has delivered record consolidated net profit of Rs. 39,588 crore for the year in a period of heightened volatility in the energy markets. I am delighted to highlight that our Company has more than doubled its PBDIT in last five years to Rs. 92,656 crore – establishing a global benchmark for value creation” Mukesh D. Ambani, Chairman and Managing Director, Reliance Industries Limited said.

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