Oil-to-telecom major Reliance Industries (RIL) on Thursday said its fourth quarter profit rose 9.79 per cent year-on-year (YoY) to Rs 10,362 crore. Analysts in an ET NOW poll had projected a net of Rs 10,000 crore.
India’s biggest company in terms of market capitalisation had posted a profit of Rs 9,438 crore in the corresponding quarter last year.
Overall revenue of the company increased 19.40 per cent YoY to Rs 1,54,110 crore in Q4FY19. PBDIT jumped 16.30 per cent YoY to Rs 24,047 crore.
Telecom arm Reliance Jio reported 64.70 per cent YoY growth in profit at Rs 840 crore in Q4FY19 over Rs 510 crore in Q4FY18.
Commenting on the results, Chairman and Managing Director, Mukesh Ambani said: “During FY19, we achieved several milestones and made significant strides in building Reliance of the future. Reliance Retail crossed ₹ 100,000 crore revenue milestone, Jio now serves over 300 million consumers and our petrochemicals business delivered its highest ever earnings.”
More to come…
Source: Economic Times