RIL posts net profit of Rs 9435 cr in Q4

29 April, 2018, 00:58 | Author: Tracy Craig
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Reliance Jio net profit increased marginally by 1.2% to Rs. 510 crore as the company's average revenue per user (ARPU) decreased to Rs. 137 compared with Rs. 154 in the immediately preceding quarter.

The company's standalone net profit for Q4 increased 6.7 per cent to Rs 8,697 crore, while its revenue increased 20.8 per cent to Rs 90,894 crore ($13.9 billion).

Total income of the company for the fourth quarter also jumped 29 per cent to Rs 122,346 crore as against Rs 94,825 crore in the corresponding quarter previous financial year (2016-17), the company said in a Bombay Stock Exchange (BSE) filing.

Mumbai: Reliance Industries (RIL) has reported a 17.3 per cent growth in consolidated net profit for the January-March quarter, which was largely in line with Street estimates following a strong showing in its petrochemicals business.

Reliance Retail, the group's retail arm, nearly doubled its sales at ₹24,183 crore, against ₹10,332 crore in the year ago period.

GRM for the year was at a 9-year high of $ 11.6 per barrel as against $11.0 per barrel in the previous year. This, however, includes RIL's petro-retail business as well.

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During the quarter, Reliance Retail added 86 stores across various store concepts and strengthened its distribution network for consumer electronics.

Jain also mentioned that the e-commerce business aided by is also growing at a rapid pace and about 7 per cent of the revenues comes from e-commerce at present.

According to RIL, the increase in revenue was primarily on account of higher volumes with start-up of petrochemicals projects and uptrend in prices of products in refining and petrochemical businesses.

Reliance Retail further strengthened its presence through its partnerships. Then, in March this year, the company started offering the same device at Rs. 1,999, but with cashback and vouchers worth Rs. 3,595. In addition, JioTV app won in the "Best Mobile Video Content" category for JioTV enabling Jio Digital Life.

A Jefferies report added that even if Jio maintains its growth pace in terms of subscriber base, its revenue market share may rise more slowly on lower average revenues per user. And now today, the telco has announced its JioFi Exchange Offer.


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