Reliance Industries share price on Wednesday fell more than three per cent. This comes after billionaire Mukesh Ambani’s Reliance Industries Ltd had reported a 22.5 per cent rise in net profit for the quarter ended March. Even though Reliance’s share price has dropped, the company registered bumper oil refining margins, steady growth in telecom and digital services and strong momentum in the retail business.
The oil-to-retail-to-telecom conglomerate’s consolidated net profit rose to Rs 16,203 crore in the quarter ended March 31, 2022 from Rs 13,227 crore, the firm said in a statement. Net profit, however, fell 12.6 per cent sequentially — breaking a six-quarter chain of quarter-on-quarter improvement.
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RELIANCE INDUSTRIES SHARE PRICE
Reliance Industries share price on BSE India was down by 3.40 per cent or 89.10 points at Rs 2,532.05. The share price of Reliance on NSE was down by 3.39 per cent or 88.85 points at Rs 2,531.80.
RELIANCE Q4 RESULTS
For the full fiscal 2021-22 (April 2021 to March 2022), Reliance reported a net profit of Rs 60,705 crore on a revenue of Rs 7.92 lakh crore (USD 102 billion).
It is the first Indian company to have crossed USD 100 billion revenue in a year.
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The firm reported the highest-ever quarterly EBITDA (earnings before interest, taxes, depreciation and amortisation) of Rs 33,968 crore, up 28 per cent year-on-year.
O2C (oil-to-chemical) business EBITDA was up 25 per cent at Rs 14,241 crore, while digital services pre-tax earnings at Rs 11,209 crore were 25 per cent more than last year.
Retail EBITDA was up 2.5 per cent at Rs 3,712 crore and gas production from satellite fields in the KG-D6 block boosted oil and gas EBITDA over three folds to Rs 1,556 crore.
Consumer business now accounts for nearly 45 per cent of segment EBITDA.
