Beating all the reports from analysts, the Mukesh Ambani owned Reliance Industries Limited (RIL,) on the 18th of April, announced a profit of 9.79 % for the last quarter, Q4.
RIL announced, at the end of Q4, which ended on the 31st of March 2019, there was a rise in total net profit to Rs. 10,362 crores as opposed to the Rs. 9,435 crores in the last quarter.
One of the primary reasons for the rise in revenue was a higher realization of refining and petrochemical products.
“RIL reported largely inline standalone Ebitda and higher than expected petchem margin at 18.9% was offset by lower-than-expected refining throughput at 16 million tonnes,” said Abhijeet Bora, an analyst at Sharekhan by BNP Paribas.
The average revenue earned per user (ARPU) was at Rs. 126.2 in March, which was considerably lower than what analysts had expected from RIL for this quarter.
Talking about the increasing revenue and the rise of profits in this quarter, Mukesh Ambani said in a statement, “During FY19, we achieved several milestones and made significant strides in building Reliance of the future. Retail crossed Rs 1,00,000 crore revenue milestone, Jio now serves over 300 million consumers and our petrochemicals business delivered its highest ever earnings.”
This is the second time in a row Reliance showed so much growth and a profit of more than Rs. 10,000 crores. With such a steady rise in the profits, RIL is poised for growth not just in India, but all over the world as well.
Stay tuned for more updates.