RIL Q4 consolidated net profit up 22.5%
FY22 net revenue at ~7 trillion; net profit goes past ~60,000 crore
Mukesh Ambani-led Reliance Industries (RIL) on Friday reported a consolidated net profit of Rs 16,203 crore for the quarter ended March 31, 2022 (Q4 FY22), up 22.5 per cent over the yearago period’s ~13,227 crore but slightly short of expectations.
A poll of analysts by Bloomberg had pegged net profit at ~16,819 crore for Q4.
But for the exceptional income of ~2,836 crore in the December 2021 quarter, net profit would have been its highest quarterly profit ever. Revenues and Ebitda for the quarter were its highest ever. Likewise, revenues, Ebitda and net profit for FY22 were RIL’S highest annual figures for all time.
The oil-to-telecom conglomerate’s consolidated revenue from operations surged 38.6 per cent year-onyear (YOY) to ~2.07 trillion for the reported quarter, which met street estimates, according to Bloomberg.
The company’s board also recommended a ~8 per share dividend for the financial year ended March 31, 2022 (FY22).
For FY22, the company reported net revenue (excluding goods and services tax and excise duty) of ~6,99,962 crore (~7 trillion) or $91 billion (at 76.915 to a USD). Consolidated net profit (attributable to owners of the company) was ~60,705 crore for FY22.
“Despite the ongoing challenges of the pandemic and heightened geo-political uncertainties, Reliance has delivered a robust perform- ance in FY22,” RIL Chairman and Managing Director Mukesh Ambani said.
On Friday, ahead of the results, the RIL scrip closed 0.74 per cent down on the BSE, at ~2,621.15 a share.