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Reliance consolidated profit doubles to Rs 13,227 crore in Q4; petrochem revenue rises 4.4%-Business News , Novi Reporter”

Reliance consolidated revenue doubles to Rs 13,227 crore in This autumn; petrochem income rises 4.4%-Enterprise Information , Novi Reporter”

Revenues from digital companies surged to Rs 22,628 crore in Q4FY21, in comparison with Rs 19,153 crore in the identical quarter final yr

Reliance consolidated profit doubles to Rs 13,227 crore in Q4; petrochem revenue rises 4.4%

Representational picture. Reuters

The oil-to-telecoms conglomerate Reliance Industries led by billionaire Mukesh Ambani mentioned that its consolidated revenue doubled to Rs 13,227 crore within the final quarter of the monetary yr 2021-21.

The consolidated revenue climbed 108 p.c within the three months to 31 March because of “important progress in Jio and restoration in Retail enterprise”, Moneycontrol.com reported

The online revenue for the fourth quarter was Rs 14,995 crore, increased by 0.7 p.c as in comparison with the third quarter of the Monetary Yr 2021.

Nonetheless, in accordance with Reuters, the corporate missed analysts’ estimates. Analysts on common had anticipated Rs 13,491 crore, the information company mentioned, quoting Refinitiv knowledge.

Hit by lockdown introduced to curb the COVID-19 pandemic, Reliance had reported a revenue of Rs 6,348 crore throughout the identical quarter final yr.

Income from the operations rose 11 p.c year-on-year to Rs 1,54,896 crore throughout the fourth quarter of FY21.

The corporate additionally introduced a dividend of Rs 7 per share.

The revenues within the dominant oil-to-chemicals (O2C) enterprise rose 4.4 p.c to Rs 1.01 lakh crore in Q4FY21 from Rs 96,732 crore in the identical interval final yr (Q4FY20).

Revenues from digital companies surged to Rs 22,628 crore in Q4FY21, in comparison with Rs 19,153 crore in the identical quarter final yr.

The revenues of the retail enterprise had been at Rs 41,296 crore for the March quarter.

As per the corporate assertion, the consolidated income from operations at Rs 1,54,896 crore in Q4FY21 elevated by 11 p.c in comparison with the identical interval within the final monetary yr, and the sequential improve in topline was at 24.9 p.c.

Commenting on the outcomes, Mukesh Ambani, chairman and managing director of Reliance Industries Restricted mentioned, “Now we have registered sturdy restoration in O2C and retail section, and resilient progress within the digital companies enterprise. Sustained excessive utilisation charges throughout websites and enchancment in downstream product deltas, in addition to transportation gasoline margins, aided O2C earnings progress. Our client companies have proved to be a digital and bodily lifeline for the nation in these difficult occasions.”

“These are terribly difficult occasions for India. Our fast precedence is to assist our nation and group tide over the COVID disaster. Now we have deployed our greatest sources in strengthening the nation’s struggle in opposition to the pandemic,” he added.

Disclaimer: Network18 and TV18 – the businesses that function Novi Reporter – are managed by Impartial Media Belief, of which Reliance Industries is the only real beneficiary.

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Updated: April 30, 2021 — 5:10 pm

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