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Mukesh Ambani’s RIL Q4 net profit doubles on-year to Rs 13,227 cr, misses estimate

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Mukesh Ambani-led RIL’s fourth quarter (January-March) net income rose 108.36 percent on-year to Rs 13,277 crore, which is below estimates. Oil-to-telecom major had reported a consolidated net income of Rs 6,348 crore within the year-ago quarter. Earlier within the previous quarter (October-December 2020), Reliance Industries Ltd had posted a net income of Rs 13,101 crore. RIL’s consolidated revenue from operations came in at Rs 1.54 lakh crore within the fourth quarter, against Rs 1.39 lakh crore within the corresponding quarter last year and Rs 1.23 lakh crore within the October-December quarter.

RIL declared a dividend of Rs 7 per equity share of Rs 10 each for the fiscal year ended 31 March 2021. Most brokerages like Kotak Securities and JM Financial had estimated RIL to report a 100 percent on-year rise in net income on a coffee base. A CNBC TV18 poll of analysts had estimated RIL to post a net income of Rs 14,800 crore on a revenue of Rs 1.45 lakh crore within the fourth quarter.

RIL Q4 results 2021 highlights

• According to the corporate, the profit of Rs 13,227 crore was due to owners of the corporate, while the entire profit of Rs 14,995 •crore within the fourth quarter rose 129.1 percent on-year.

• RIL had a one-time gain of Rs 797 crore as against a one-time exceptional loss of Rs 4,267 crore within the fourth       quarter of the previous year

• RIL’s revenue from operations jumped 11 percent to Rs 1.54 lakh crore as compared to Rs 1.39 lakh crore within the year-ago period

• The outbreak of COVID-19 pandemic globally and in India is causing significant disturbance and slowdown of economic activity. the corporate informed that RIL’s operations and revenue during the amount were impacted thanks to COVID-19.

• Segment-wise, the revenues within the dominant oil-to-chemicals (O2C) business rose 4.4 percent to Rs 1.01 lakh crore within the January-March quarter of FY21 from Rs 96,732 crore within the same period last year.
The revenues from the oil and gas segment came in at Rs 848 crore, as against Rs 625 crore within the corresponding quarter of the previous year.

• While the revenues from digital services stood at Rs 22,628 crore as compared to Rs 19,153 crore within the same quarter last year.

The revenues from RIL’s retail business were at Rs 46,099 crore within the fourth quarter of FY21.
Mukesh Ambani, Chairman, and director, Reliance Industries Limited said that Reliance Industries Ltd has registered robust recovery in the O2C and retail segment, and resilient growth in the Digital Services business. “Sustained high utilization rates across sites and improvement in downstream product deltas also as transportation fuel margins aided O2C earnings growth. Our consumer businesses have proved to be a digital and physical lifeline for the state in these challenging times,” RIL chief added.

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