Mumbai: Reliance Industries (RIL) reported a 18% jump in its March quarter profit to Rs 21,327 crore on the back of strong performance from its oil-to-chemicals (O2C), digital services (Jio), retail and oil and gas businesses.
Had there been no export tax on refined fuel, the profit would have been higher. Export tax on transportation fuel, which came into effect from July 1, 2022, impacted RIL’s profit by Rs 711 crore, the company said in an exchange filing.
Income Rose 2% to around Rs 2.2 lakh crore on the back of traction in the company’s consumer businesses (retail and telecom). Operating profit, a benchmark for underlying business performance, rose 21% to Rs 40,376 crore.
Although RIL has diversified its business into retail and telecom and more recently green energy, its O2C segment still accounts for 67% of its annual revenue (Rs 8.9 lakh crore) and 41% of its operating profit (Rs 1.5 lakh crore). Has an account. , RIL Chairman and Managing Director Mukesh Ambani said, “The O2C segment has registered its highest ever operating profit despite global uncertainties and disruption in commodity trade flows.”
Operating profit of O2C segment grew by 14% to Rs 16,293 crore in Q4FY23 due to lower feedstock cost. While the operating profit of Digital (Jio) climbed 19% to Rs 13,388 crore due to higher revenue and increase in margin.
Jio’s average revenue per user (ARPU) – a key metric that affects earnings – was up 7% at Rs 179 in Q4FY23. ARPU is the total revenue of the telecom operator divided by the number of users on its network.
Launched in 2016, Jio is expected to have around 439 million subscribers as of March 31, 2023 and has seen data and voice traffic grow by 23% and 8% on its network. India’s most valuable company said the ARPU has improved due to tariff hike and better customer mix.
Retail business’s operating profit grew 33% to Rs 4,925 crore, led by healthy growth across all consumer baskets. Reliance Retail had 18,040 outlets as of March 31, 2023. Consumer business (Jio and Retail) accounted for 45% of RIL’s operating profit in Q4FY23.
Oil and gas’s operating profit grew 144% to Rs 3,801 crore, while financial services’ operating profit declined 38% to Rs 106 crore. Media, on the other hand, posted a loss of Rs 35 crore in Q4FY23 as against a profit of Rs 210 crore in the year-ago period.
RIL’s debt at the end of Q4FY23 was around Rs 3.2 lakh crore, and it had just Rs 2 lakh crore in cash and cash equivalents on its books.
Had there been no export tax on refined fuel, the profit would have been higher. Export tax on transportation fuel, which came into effect from July 1, 2022, impacted RIL’s profit by Rs 711 crore, the company said in an exchange filing.
Income Rose 2% to around Rs 2.2 lakh crore on the back of traction in the company’s consumer businesses (retail and telecom). Operating profit, a benchmark for underlying business performance, rose 21% to Rs 40,376 crore.
Although RIL has diversified its business into retail and telecom and more recently green energy, its O2C segment still accounts for 67% of its annual revenue (Rs 8.9 lakh crore) and 41% of its operating profit (Rs 1.5 lakh crore). Has an account. , RIL Chairman and Managing Director Mukesh Ambani said, “The O2C segment has registered its highest ever operating profit despite global uncertainties and disruption in commodity trade flows.”
Operating profit of O2C segment grew by 14% to Rs 16,293 crore in Q4FY23 due to lower feedstock cost. While the operating profit of Digital (Jio) climbed 19% to Rs 13,388 crore due to higher revenue and increase in margin.
Jio’s average revenue per user (ARPU) – a key metric that affects earnings – was up 7% at Rs 179 in Q4FY23. ARPU is the total revenue of the telecom operator divided by the number of users on its network.
Launched in 2016, Jio is expected to have around 439 million subscribers as of March 31, 2023 and has seen data and voice traffic grow by 23% and 8% on its network. India’s most valuable company said the ARPU has improved due to tariff hike and better customer mix.
Retail business’s operating profit grew 33% to Rs 4,925 crore, led by healthy growth across all consumer baskets. Reliance Retail had 18,040 outlets as of March 31, 2023. Consumer business (Jio and Retail) accounted for 45% of RIL’s operating profit in Q4FY23.
Oil and gas’s operating profit grew 144% to Rs 3,801 crore, while financial services’ operating profit declined 38% to Rs 106 crore. Media, on the other hand, posted a loss of Rs 35 crore in Q4FY23 as against a profit of Rs 210 crore in the year-ago period.
RIL’s debt at the end of Q4FY23 was around Rs 3.2 lakh crore, and it had just Rs 2 lakh crore in cash and cash equivalents on its books.