Profit Sheets

Reliance Industries Ltd consolidated net profit up 34.8% at Rs53,739 cr

April 30, 2021 09:33 PM

Reliance Industries Ltd consolidated net profit up 34.8% at Rs53,739 cr
Reliance Industries Ltd (RIL) on Friday posted a consolidated net profit of Rs53,739 crore, up 34.8% for the fiscal year ended March 2020.

Reliance Industries Ltd (RIL) on Friday posted a consolidated net profit of Rs53,739 crore, up 34.8% for the fiscal year ended March 2020. Consolidated revenue however came in lower by 18.3% at Rs5.39 lakh crore and operating profit was lower by 4.6% at Rs97,580 crore.

We have registered robust recovery in O2C and retail segment, and resilient growth in Digital Services business. Sustained high utilization rates across sites and improvement in downstream product deltas, as well as transportation fuel margins, aided O2C earnings growth,”.

Mukesh Ambani, chairman, and managing director, RIL, adding Reliance Retail ensured safe supplies of essentials goods and services to customer homes.

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And while COVID-19 has disrupted livelihoods, we have added nearly 75,000 jobs to the economy, while ensuring the health and safety of our employees and their families.” RIL shares closed 1.42% down at Rs1994.45 on the BSE today, ahead of its earnings announcement.

While net profit for Jio Platforms Ltd came in at Rs12,537 crore, it added 37.9 million customers taking the total customer base to 426.2 million as on 31 March.

Reliance Retail on other hand saw revenue at Rs1,57,629 crore lower by 3.3% and net profit at Rs5481 crore higher by 0.6%.  The company had 12,711 operational physical stores; 1,456 stores opened during the year.

The oil- to- retail conglomerate’s consolidated revenue from operations for the quarter were down 22% y-o-y to Rs 1.23 lakh crore. The RIL stock, which is trading below its record September highs, closed at Rs 2,047.95 on Friday, down 2.45%, on a day when the markets were weak.

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