RIL Q4 PAT drops 1.8% to ₹18,951 crore

Reliance Industries Ltd. (RIL) reported consolidated profit after tax (PAT) for the fourth quarter ended March 31, 2024 dropped by about 2% to ₹18,951 crore from ₹19,299 crore in the year ago period, company said in a regulatory filing.

Gross revenue for the quarter grew 10.8% to ₹2,64,834 crore. The company’s board at its meeting held on Monday declared a dividend of ₹10 per share.

For FY24, RIL reported PAT grew 4.37% to ₹69,621 crore. Consolidated gross revenue for the year grew 2.6% to ₹10,00,122 crore.

Mukesh Ambani, CMD, RIL said, “All segments have posted a robust financial and operatingperformance.” He said the performance of the digital services segment had been boosted by expansion of subscriberbase of mobility and fixed wireless services.

“With over 108 million 5G customers, Jio truly leads the 5G transformation in India,” he said.

Jio Platforms reported consolidated PAT grew 12% to ₹5,583 crore for Q4. Gross revenue grew 13.3% to ₹33,835 crore.

Reliance Retail Ventures Ltd. reported 11.7% growth in Q4 PAT at ₹2,698 crore. Gross revenue for the quarter increased 10.6% to ₹76,627 crore.

On the Oil to Chemicals (O2C) business Mr. Ambani said, “strong demand for fuels globally, and limited flexibility in refining system worldwide, supported marginsand profitability... Downstream chemical industry experienced increasingly challenging market conditions through the year.” The O2C business reported 10.9% growth in revenue at ₹1,42,634 crore. Its EBITDA grew 3% to ₹16,777 crore.

Mr. Ambani said RIL is committed to the new energy seegment, to help “deliver sustainable growth for the future”. 

The oil and gas business reported revenue growth of 42% to ₹6468 crore. Its EBITDA grew 47.5% to ₹5,606 crore.

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