Reliance Industries Q4 Earnings: Profit After Tax Surges ₹21,243 Crore, Announces Dividend Of ₹10 Per Share

Mukesh Ambani-owned Reliance Industries Limited (RIL) announced their Consolidated and Standalone Audited Financial Results for the quarter/year ended March 31, 2024, as approved by the Board of Directors.

Financial Results Highlights - Consolidated - Q4FY24

In Q4FY24, Reliance Industries reported a gross revenue of Rs 2,64,834 crore, a 10.8 per cent YoY increase.

EBITDA reached Rs 47,150 crore, up by 14.3 per cent compared to the previous year. Depreciation expenses total Rs 13,569 crore, and rose by 18.5 per cent.

Finance costs remain slightly low at Rs 5,761 crore, a marginal decrease of 1 per cent. Tax expenses amount to Rs 6,577 crore, up by 138.8 per cent. Profit After Tax stood at Rs 21,243, up by 0.1 per cent.

Annual

RIL reports an annual consolidated revenue of Rs 10,00,122 crore (USD 119.9 Billion), marking a 2.6 percent increase YoY. The company’s annual consolidated Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) surged to Rs 178,677 crore (USD 21.4 billion), marking a 16.1 percent growth compared to the previous year.

Furthermore, the company’s annual consolidated Profit Before Tax (PBT) crossed the Rs 1,00,000 crore (USD 12.6 percent), with a 2.6 percent increase YoY and the annual consolidated Profit Before Tax (PBT) crossed the Rs 1,00,000 crore, reaching Rs 1,04,727 crore (USD 12.6 billion), an 11.4 percent increase YoY.

The company’s two key subsidiaries, Jio Platforms and Reliance Retail, also report a strong performance. The annual net profit of the Jio platform crossed Rs 20,000 crore mark; meanwhile, Reliance Retail recorded an annual net profit exceeding Rs 10,000 crore.

In addition to the annual results, RIL reported strong quarterly performance, with consolidated EBITDA reaching Rs 47,150 crore (USD 5.7 billion), a 14.3 percent increase YoY.

RIL also announced a dividend of Rs 10 per share during the quarterly announcement.

Commenting on the results, Mukesh D. Ambani, Chairman and Managing Director, Reliance Industries Limited said: “Initiatives across RIL’s businesses have made a remarkable contribution towards fostering growth of various sectors of the Indian economy. It is heartening to note that alongside strengthening the national economy, all segments have posted a robust financial and operating performance. This has helped the Company achieve multiple milestones. I am happy to share that this year, Reliance became the first Indian company to cross the Rs 100,000-crore threshold in pre-tax profits.”

Reliance Industries Limited shares

The shares of the company on Monday at 3:30 PM IST closed at Rs 2,962.90, up by 0.77 per cent on NSE.