Reliance Industries, India's number one company by market capitalisation, reported a 9.8 percent growth in 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.
The company attributed the robust revenue performance to strong growth in its retail and digital services businesses which grew by 51.6 percent and 61.6 percent, respectively. Higher petrochemical volumes also contributed to growth in revenue, the company said.
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.
Q4 revenue from the petrochemicals segment increased 11.3% YoY to Rs 42,414 crore ($6.1 billion) mainly due to the increase in price realizations and volumes in PTA, PP, and Paraxylene.
Petrochemicals segment EBIT came in at Rs 7,975 crore, up 23.9% YoY as compared to Rs 6,435 crore in the corresponding quarter last year.
Petrochemical segment recorded EBIT margin of 18.8% as against 16.9% in Q4FY18 aided by strength in PX margins.
The company's Q4 gross refining margin (GRM) came in at $8.2/bbl against $8.8 a barrel reported in the December quarter of FY19, and $11/bbl in Q4FY18.
Retail segment revenue for Q4 grew by 51.6 percent to Rs 36,663 crore as against Rs 24,183 crore in the corresponding period of the previous year.
Retail business PBDIT for Q4 FY19 grew by 77.1 percent to Rs 1,923 crore as against Rs 1,086 crore in the corresponding period of the previous year.
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 year, Reliance Jio's FY19 net profit was up 309 percent YoY to Rs 2,964 crore from Rs 723 crore.
Reliance Jio’s subscriber base has crossed 300 million, which is the fastest operator globally to reach this milestone.
Mukesh D. Ambani, Chairman and Managing Director, Reliance Industries said, “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."