RIL Q1 FY19 result: Reliance Industries posts Rs 10,104 crore profit, beats estimates
Reliance Industries (RIL) announced its first quarter (April-June) results for the financial year 2019-20 (FY20) on Friday. The Mukesh Ambani-led company announced a profit of Rs 10,104 crore, down from Rs 10362 crore.
RIL Q1 FY19 result: Reliance Industries (RIL) announced its first quarter (April-June) results for the financial year 2019-20 (FY20) on Friday. The Mukesh Ambani-led company announced a profit of Rs 10,104 crore, down from Rs 10362 crore. This is more than what was estimated. Reliance Industries Ltd's profit rose 6.8% YoY, as growth in the conglomerate`s retail and telecoms businesses helped offset a slowdown at its mainstay oil refining and petrochemical operations. Revenue from operations grew 21.3% to 1.61 trillion rupees.
In a regulatory filing, the company said that its revenue from operations stood at Rs 1,61,349crore in the first quarter of the current financial year, up 21.25 per cent on a year-on-year basis. Meanwhile, Reliance Jio has posted a profit of Rs 891 crore, up from Rs 840 crore. The EBITDA of the company increased from Rs 4,329 crore to Rs 4,686 crore.
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Reliance Industries had reported a 9.8 per cent rise in its consolidated net profit at Rs 10,362 crore, in the fourth quarter ended March 31, 2019. In the year-ago period (June quarter of FY19), the firm had posted a 17.9 per cent increase in net profit at Rs 9,459 crore. This was the highest quarterly profit by any Indian private sector company.
Here are the key points from RIL result:
- Q1 FY2019-20 Quarterly consolidated Net profit of ₹ 10,104 crore ($ 1.5 billion), up 6.8% Y-o-Y #RILresults
- Q1 FY2019-20 Record quarterly consolidated revenue of ₹ 172,956 ($ 25.1 billion) up 22.1% Y-o-Y #RILresults
- Q1 FY2019-20 Record standalone net profit of ₹ 9,036 crore ($ 1.3 billion), up 2.4% Y-o-Y
- Q1 FY2019-20 Record EBITDA from Retail and Digital Services business; Consumer businesses account for nearly 32% of segment EBITDA
- Q1 FY2019-20 EBITDA of ₹ 4,686 crore, up 49%YoY, EBITDA margin of 40%
- Q1 FY2019-20 @RelianceJio Net profit of ₹ 891 crore, up 45.6% Y-o-Y
- Q1 FY2019-20 @RelianceJio strong momentum continuing in subscriber additions with gross adds of 33.8 million in the quarter
- Q1 FY2019-20 @RelianceJio Despite larger consumer base across tariff plans, customer engagement improving with higher data usage of 11.4 GB per user per month; VoLTE voice consumption per sub at 821 minutes per month, ARPU at ₹ 122
- Q1 FY2019-20 Reliance Retail revenue up 48% Y-o-Y to ₹ 38,186 crore; Record Retail EBITDA of ₹ 2,049 crore, up 70% Y-o-Y
- Q1 FY2019-20 Reliance Retail growing faster than every other player across geographies, formats and verticals; Now has 10,644 stores across 6,700+ towns and cities, area of over 23 Mn sqft; Crossed 100mn registered customers & 150mn footfalls in the quarter
- Q1 FY2019-20 Resilient earnings from downstream energy businesses in volatile and challenging macro environment; Geopolitics and OPEC+ supply cuts constrained crude markets; Economic slowdown, trade tensions and start-up of new capacities impacted margins
Earlier in the day, Reliance Industries shares finished 1.01 per cent lower at Rs. 1,249 apiece on the BSE ahead of the earnings announcement by the company, in line with a 1.44 per cent fall in the benchmark Sensex index amid a broad-based selloff. Meanwhile, both Sensex and Nifty went down on Friday as investors fretted over weak corporate earnings and the government`s refusal to tweak the surcharge on foreign investors. The broader NSE Nifty dropped 1.53% to 11,419.25, while the benchmark BSE Sensex closed 1.44% lower at 38,337.01. The indexes posted their second straight weekly loss.