Reliance Industries to announce Q1 results on Friday

RIL's consolidated net profit for the fourth-quarte stood at Rs 9,435 crore.

Reliance Industries to announce Q1 results on Friday

New Delhi: Oil-to-telecom conglomerate Reliance Industries is all set to announce its earnings for the first quarter ended June 30, 2018-19 on Friday.

RIL's consolidated net profit for the fourth-quarter (January-March) of fiscal 2017-18 stood at Rs 9,435 crore, up by 17.3 percent on a year-on-year basis.

However, the company had posted a net profit of Rs 8,046 crore for the corresponding quarter of fiscal 2016-17. The company's consolidated revenue stood at Rs 1,29,120 crore, up 39 percent during Q4 FY 18, compared to the Rs 92,889 crore posted in the corresponding quarter a year ago.

"FY 2017-18 was a landmark year for Reliance where we established several records on both operating and financial parameters. Reliance has become the first Indian company to record PBDIT of over USD 10 billion with each of our key businesses - refining, petrochemicals, retail and digital services achieving record earnings performance,"  Company chairman and richest Indian Mukesh Ambani said in April.

Speaking at the Reliance Industries' 41st Annual General Meeting earlier this month, Ambani said that Reliance is India's largest payer of Goods and Services Tax (GST), Excise and Customs Duty, and Income Tax in the private sector.

He also highlighted that Jio's subscribers grew from 124 million at the end of last year to 210 million at the end of FY18.

‘Jio and retail's share in overall EBITDA from 2 percent to 13 percent,’ he said while adding that Jio is now India's most widespread mobile network that has a larger reach than even the 2G players.

With Agency Inputs