Published: Sun, April 29, 2018
Science | By Dan Gutierrez

RIL Q4 profit jumps 17.3% to Rs 9435 cr

RIL Q4 profit jumps 17.3% to Rs 9435 cr

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.

Revenue from its refining and marketing business rose 28.8% to Rs 93,519 crore as its Jamnagar refinery, the world's largest, earned $11 from every barrel it processed. The company also announced a net profit of Rs 510 crores in the just-ended quarter.

RIL's $30 billion telecom venture Reliance Jio Infocomm Ltd reported a profit of Rs504 crore ($78.97 million) in Q3, FY18 (September-December 2017) from a loss of Rs271 crore in the previous quarter.

Gross refining margins (GRM) for the year were at a nine-year high of $11.6 a barrel, against $11 a barrel in the previous year, while higher interest and depreciation charges with the commissioning of projects across businesses resulted in relatively lower net profit growth. The company's PAT from the refining business, however, dropped 10 per cent to Rs 5,607 crore. Further, revenues for the year showed a rise of 105 per cent at Rs 69,198 crore against Rs 33,765 crore.

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"We have established strong foundations in retailing and digital services business with world-class supply chain management and network infrastructure which will serve our customers well". For the year ended 31 March 2018 (FY 2017-18, the year under review), this Reliance Industries Ltd (RIL) subsidiary reported profit of Rs 723 crore against operating revenue of Rs 20,154 crore and value of services of Rs 23,714 crore.

RIL said its J3 refinery, one of the world's most complex and highly integrated project, is almost complete and has redefined refining and petrochemicals integration.

Morgan Stanley said in a 8 April research report that Jio is expected to report a quarter-on-quarter decline in ARPU (average revenue per user) due to tariff cuts of early 2018. Alongside the revenue aspect, Jio also revealed the numbers of the company such as subscriber base, data usage by the subscribers and more. Jio has released a banner which indicates that customers will get M2S hotspot device under this offer.

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