Reliance Q4 net up 17.3% at Rs9,435 crore

Reliance Industries Q4 results 2018 today Mukesh Ambani firm may report profit for 13th straight quarter

Reliance Industries Q4 results 2018 today Mukesh Ambani firm may report profit for 13th straight quarter

As per the operator's Q4 report for the financial year 2017-2018, its total subscriber base now stands at 186.6 million. Its net profit for the entire fiscal year, which is also its first year of commercial operations, is of Rs 723 crores.

The RIL stock was trading at Rs998 at 9.20 am, up 2.32 % from the previous day.

"FY18 was a landmark year for Reliance, where we established several records on both operating and financial parameters". Reliance Jio Infocomm reported a standalone net profit of Rs 510 crore on operating revenue of Rs 7,128 crore.

Revenues from this segment were 13 per cent higher at Rs 38,113 crore over Rs 26,478 crore in the corresponding previous period and Rs 33,726 crore in the preceding quarter. "The growing Indian market provides exciting opportunities to scale-up these businesses and maximize long-term shareholder value in the coming years", said Mukesh Ambani, chairman, Reliance Industries Limited that operates 3,837 stores with an area of over 17.7 million square feet.

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While its core petrochemical business posted record quarterly pre-tax profits, earnings from the oil refining business dipped on squeeze in margins.

Reliance Retail revenue grew 134 per cent YoY to Rs24,183 crore (Rs10,332 crore). Earnings from the petchem division are expected to surge to Rs6,600 crore, a 92% rise year-on-year, largely attributed to the commissioning of the off-gas cracker and petcoke gasification units at the refinery in Jamnagar.

RIL said its J3 refinery, one of the world's most complex and highly integrated project, is almost complete and has redefined refining and petrochemicals integration. RIL had launched the telecom services in September 2016.

Consolidated sales for the quarter rose 29.34 per cent YoY to Rs 1.2 lakh crore from Rs 92,889 crore in the year-ago period.

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RIL also acquired 5-per cent equity stake in NYSE-listed Eros International PLC at a price of $15 per share. The company operated 1,313 petroleum retail outlets in the country at the end of the year.

Apart from the revenue aspect, Reliance Jio also released the data which details the number of subscribers along with the total amount of data consumed.

Reliance Jio's JioFi devices compete with Airtel's 4G hotspot which is available for Rs 999.

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