Reliance Q4 net profit up by 9.8% at INR $1.5 billion

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RIL records annual consolidated net profit of $5.7 billion, up by 13.1%.

Reliance Industries Limited (RIL) today reported its financial performance for the quarter/year ended 31st March 2019. Highlights of the audited financial results as compared to the previous periods are:

CONSOLIDATED FINANCIAL PERFORMANCE

HIGHLIGHTS OF QUARTER’S PERFORMANCE (CONSOLIDATED)

  •  Revenue increased by 19.4% to ` 154,110 crore ($ 22.3 billion)
    • PBDIT increased by 16.3% to ` 24,047 crore ($ 3.5 billion)
    • Profit Before Tax increased by 4.6% to ` 13,858 crore ($ 2.0 billion)
    • Cash Profit increased by 6.1% to ` 16,349 crore ($ 2.4 billion)
    • Net Profit increased by 9.8% to ` 10,362 crore ($ 1.5 billion)

HIGHLIGHTS OF QUARTER’S PERFORMANCE (STANDALONE)

  •  Revenue decreased by 0.3% to ` 90,648 crore ($ 13.1 billion)
    • Exports decreased by 4.4% to ` 49,052 crore ($ 7.1 billion)
    • PBDIT increased by 3.4% to ` 16,587 crore ($ 2.4 billion)
    • Profit Before Tax decreased by 4.8% to ` 11,331 crore ($ 1.6 billion)
    • Cash Profit decreased by 5.9% to ` 11,651 crore ($ 1.7 billion)
    • Net Profit decreased by 1.6% to ` 8,556 crore ($ 1.2 billion)
    • Gross Refining Margin (GRM) of $ 8.2/bbl for the quarter

Commenting on the results, Mukesh D. Ambani, Chairman and Managing Director, Reliance Industries Limited said: “During FY 2018-19, we achieved several milestones and made significant strides in building Reliance of the future. Reliance Retail crossed  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 ` 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 ` 92,656 crore – establishing a global benchmark for value creation.

Focus on service and customer satisfaction led to higher numbers of subscribers and footfalls across our consumer businesses, driving robust revenue growth. Our endeavour is to create better experiences for our customers, leading to a better shared future.”

FY 2018-19: FINANCIAL PERFORMANCE REVIEW AND ANALYSIS (CONSOLIDATED)

RIL achieved a consolidated revenue of ` 622,809 crore ($ 90.1 billion), an increase of 44.6% as compared to ` 430,731 crore in the previous year. Increase in revenue is primarily on account of higher realization for Refining & Petrochemical products with a 22% increase in average Brent Crude Price on Y-o-Y basis. Higher volumes with stabilization of new Petrochemical facilities also contributed to revenue growth. RIL’s consolidated revenue was also improved on account of robust