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MUMBAI: Reliance Industries (RIL) saw its profit rise by 18% to Rs 21,327 crore in the March quarter on the back of strong performance by its oil-to-chemicals (O2C), digital services (Jio), retail and oil & gas businesses.
Profit would have been higher had it not been for the export tax on refined fuels. Export tax on transportation fuels, which came into effect from July 1, 2022, impacted RIL’s profit by Rs 711 crore, the company said in an exchange filing.
Revenue rose 2% to nearly Rs 2. 2 lakh crore on the back of traction in the company’s consumer businesses (retail and telecom). Operating profit, a yardstick for underlying business performance, increased 21% to Rs 40,376 crore.
Though RIL diversified its business to retail and telecom and more recently to green energy, its O2C segment still accounts for 67% of its annual revenue (Rs 8. 9 lakh crore) and 41% of its operating profit (Rs 1. 5 lakh crore). “The O2C segment posted its highestever operating profit despite global uncertainties and disruptions in commodity trade flows,” RIL chairman and MD Mukesh Ambani said.
Operating profit of the O2C segment increased 14% to Rs 16,293 crore in Q4FY23 dueto lower feedstock costs. Whereas operating profit of digital (Jio) climbed 19% to Rs 13,388 crore due to higher revenue and increase in margins.
Jio’s average revenue per user (ARPU) — a key metric that influences income — was at Rs 179 in Q4FY23, up 7%. ARPU is the total revenue of the telecom operator divided by the number of users on its network.
Launched in 2016, Jio had about 439 million customers as on March 31, 2023 and saw data and voice traffic growth of 23% and 8% on its network. ARPU improved because of tariff hike and better subscriber mix, India’s most valuable company said.
Operating profit of theretail business rose 33% to Rs 4,925 crore, led by well-rounded growth across all consumer baskets. Reliance Retail had 18,040 outlets as on March 31, 2023. The consumer businesses (Jio and retail) accounted for 45% of RIL’s operating profit in Q4FY23.
Operating profit of oil &gas zoomed 144% to Rs 3,801 crore while that of financial services declined 38% to Rs 106 crore. Media, on the other hand, made a loss of Rs 35 crore in Q4FY23 as against a profit of Rs 210 crore in the year-ago period.
RIL’s debt at the end of Q4FY23 was at nearly Rs 3. 2 lakh crore, and it had just over Rs 2 lakh crore in cash and cash equivalents on its books.
Profit would have been higher had it not been for the export tax on refined fuels. Export tax on transportation fuels, which came into effect from July 1, 2022, impacted RIL’s profit by Rs 711 crore, the company said in an exchange filing.
Revenue rose 2% to nearly Rs 2. 2 lakh crore on the back of traction in the company’s consumer businesses (retail and telecom). Operating profit, a yardstick for underlying business performance, increased 21% to Rs 40,376 crore.
Though RIL diversified its business to retail and telecom and more recently to green energy, its O2C segment still accounts for 67% of its annual revenue (Rs 8. 9 lakh crore) and 41% of its operating profit (Rs 1. 5 lakh crore). “The O2C segment posted its highestever operating profit despite global uncertainties and disruptions in commodity trade flows,” RIL chairman and MD Mukesh Ambani said.
Operating profit of the O2C segment increased 14% to Rs 16,293 crore in Q4FY23 dueto lower feedstock costs. Whereas operating profit of digital (Jio) climbed 19% to Rs 13,388 crore due to higher revenue and increase in margins.
Jio’s average revenue per user (ARPU) — a key metric that influences income — was at Rs 179 in Q4FY23, up 7%. ARPU is the total revenue of the telecom operator divided by the number of users on its network.
Launched in 2016, Jio had about 439 million customers as on March 31, 2023 and saw data and voice traffic growth of 23% and 8% on its network. ARPU improved because of tariff hike and better subscriber mix, India’s most valuable company said.
Operating profit of theretail business rose 33% to Rs 4,925 crore, led by well-rounded growth across all consumer baskets. Reliance Retail had 18,040 outlets as on March 31, 2023. The consumer businesses (Jio and retail) accounted for 45% of RIL’s operating profit in Q4FY23.
Operating profit of oil &gas zoomed 144% to Rs 3,801 crore while that of financial services declined 38% to Rs 106 crore. Media, on the other hand, made a loss of Rs 35 crore in Q4FY23 as against a profit of Rs 210 crore in the year-ago period.
RIL’s debt at the end of Q4FY23 was at nearly Rs 3. 2 lakh crore, and it had just over Rs 2 lakh crore in cash and cash equivalents on its books.
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