Business Today
Loading...
Reliance Industries FY21 net profit rises 35% to Rs 53,739 crore

Total income for the fiscal under review slipped to Rs 5.03 lakh crore, down almost 20 per cent from Rs 6.26 lakh crore reported in the fiscal ended March 31, 2020, Reliance Industries said

Reliance Industries FY21 net profit rises 35% to Rs 53,739 crore

Oil-to-telecom conglomerate Reliance Industries (RIL) reported 34.75 per cent increase in consolidated net profit at Rs 53,739 crore at the end of financial year ended March 31, 2021. The Mukesh Ambani-led company had posted net profit of Rs 39,880 crore at the end of the previous fiscal.

Revenue in FY21 stood at Rs 5.39 lakh crore, lower 18.3 per cent from Rs 6.,60 lakh crore. Total income for the fiscal under review slipped to Rs 5.03 lakh crore, down almost 20 per cent from Rs 6.26 lakh crore reported in the fiscal ended March 31, 2020, Reliance Industries said in a regulatory filing on Friday.

Earnings Before Interest, Taxation, Depreciation and Amortisation (EBITDA) in FY21 declined 4.6 per cent to Rs 97,580 crore. Cash profit for the fiscal under review stood at Rs 79,828 crore, up by 18.8 per cent.

ALSO READ: Reliance Jio Q4 results: Profit jumps 47.5% to Rs 3,508 crore

For March quarter of FY21, Reliance Industries reported a consolidated net profit of Rs 14,995 crore, up 129 per cent year-on-year (YoY) from Rs 6,546 crore in corresponding quarter of the previous fiscal. Revenue for the quarter under review was recorded at Rs 1.72 lakh crore after an increase of 13.62 per cent from Rs 1.52 lakh crore in the year-ago period.

EBITDA for the March quarter of FY21 was recorded at Rs 26,602 crore, up 1.9 per cent MoM. Cash profit for the rose to Rs 22,746 crore for the quarter ended March 31, 2021, higher by 6.5 per cent on sequential basis.

ALSO READ: YES Bank FY21 loss contracts to Rs 3,462 crore as operating profit grows

RIL said its total non-convertible debentures (NCDs) outstanding (before netting off of prepaid finance charges) as on March 31, 2021 are Rs 66,665 crore out of which, secured non-convertible debentures are Rs 13,351 crore. The secured NCDs of the Company aggregating Rs 13,351 crore as on March 31, 2021, are secured by way of first charge on the its certain movable properties, RIL further added.

"We have registered robust recovery in O2C and retail segment, and resilient growth in Digital Services business. Sustained high utilization rates across sites and improvement in downstream product deltas as well as transportation fuel margins aided O2C earnings growth. Our consumer businesses have proved to be a digital and physical lifeline for the nation in these challenging times," said RIL Chairman Mukesh Ambani.

The conglomerate has added nearly 75,000 jobs during COVID times while ensuring the health and safety of employees and their families, Ambani further added.

Reliance Industries also announced a dividend of Rs 7 per share.

ALSO READ: LIC logs record Rs 37,000 cr profit from stock sale

(Edited by Vivek Punj)

Get latest news & live updates on the go on your phone with our News App. Download The Business Today news app on your device
More from BIZ WRAP