RIL Q4 results: Consolidated profit flat at ₹21,243 cr; revenue up 11%

Billionaire Mukesh Ambani-led Reliance Industries Ltd (RIL) has clocked consolidated net profit after tax (PAT) of ₹21,243 crore in the fourth quarter ended March 31, 2024, marginally up from ₹21,227 crore in the same period last year. Sequentially, the PAT was up 8.1% from ₹19,641 crore in Q3 FY24.

The oil-to-telecom conglomerate posted gross revenue of ₹2.64 lakh crore in Q4 FY24, registering a growth of 10.8% compared to ₹2.38 lakh crore in the year ago period. The company posted a revenue of ₹2.48 lakh crore in the December quarter of FY24.

Mukesh Ambani, Chairman and Managing Director, Reliance Industries Limited says, “Initiatives across RIL’s businesses have made a remarkable contribution towards fostering growth of various sectors of the Indian economy.”

“It is heartening to note that alongside strengthening the national economy, all segments have posted a robust financial and operating performance. This has helped the Company achieve multiple milestones. I am happy to share that this year, Reliance became the first Indian company to cross the ₹100,000-crore threshold in pre-tax profits,” he adds.

Earnings before Interest, Taxes, Depreciation, and Amortisation (EBITDA) grew 14.3% to ₹47,150 crore in Q4 FY24 as compared to ₹41,252 crore in the same period last year, aided by strong contribution from all businesses. In the December quarter of FY24, the EBITDA stood at ₹44,678 crore.

The EBITDA margin improved by 50 basis points YoY to 17.8% from 17.3% in the year-ago period. However, the margin dropped sequentially from 18% in Q3 FY24.

For the full financial year 2024, the gross revenue crossed 10 lakh crore mark to ₹1,000,122 crore, up 2.6% YoY, supported by continued growth momentum in consumer businesses and upstream business. The profit after tax increased by 7.3% YoY to ₹79,020 crore, while the EBITDA rose by 16.1% YoY to ₹1.78 lakh crore with positive contribution from all key operating segments.

As of March 31, 2024, the outstanding debt of RIL stood at ₹1.16 lakh crore as compared to ₹1.19 lakh crore in Q3 FY24 and ₹1.25 lakh crore in the same fiscal last year.

Segment-wise, gross revenue for Jio Platforms climbed 13.3% YoY to ₹33,835 crore, driven by robust subscriber growth across mobility and homes, and the benefit of mix improvement in Average revenue per user (ARPU). Retail Ventures Limited reported 10.6% YoY growth in gross revenue at ₹76,627 crore, aided by growth in consumer electronics and fashion & lifestyle.

Meanwhile, gross revenue from the Oil to Chemicals (O2C) increased 10.9% YoY to ₹1.42 lakh crore, primarily on account of improved realisation for transportation fuels segment and higher volumes. The oil and gas vertical posted revenue growth of 42% YoY to ₹6,468 crore on the back of higher volumes partly offset by lower price realisation from KG D6 Field.

Ahead of Q4 results, RIL shares ended 0.65% higher at ₹2,960.60, with a market capitalisation of ₹20.03 lakh crore on the BSE.