Mukesh Ambani’s Reliance Industries Limited (RIL) on Friday reported a consolidated net profit of Rs 13,227 crore for the quarter ended March 31, 2021, on a year-on-year (y-o-y) basis.

The consolidated profit is more than a 100 per cent jump in comparison to Rs 6,348 crore in the same quarter last year.

The company’s consolidated profit has increased by 108.4 per cent. Despite the rise in consolidated profit for the quarter, it has not matched analyst expectations.

RIL has recorded a sequential growth of one per cent. It had posted a net profit of Rs 13,101 crore in the October-December 2020 quarter.

The consolidated revenue from operations in Q4FY21 was reported at Rs 1.54 lakh crore in comparison to Rs 1.39 lakh crore in the corresponding quarter last year and Rs 1.23 lakh crore in the October-December quarter.

It may be noted that the company has recommended a dividend payout of Rs 7 per equity share for the financial year ended March 31, 2021.

Commenting on the result, Mukesh Ambani said, “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.”

RELIANCE JIO RESULTS

Reliance Jio, the telecom arm of RIL, has reported a 47.5 per cent year-on-year growth in net profit in Q4FY21. This is in comparison to Rs 2,379 crore in the same period last year.

The consolidated revenue from operations grew almost 19 per cent to R 18,278 crore against Rs 15,373 crore year-on-year.

JIo reported a total average revenue per customer (ARPU) of Rs 138.2 a subscriber per month and the customer base as of March 2021 stood at 426.2 million, the company said in a press release.

"Jio has a highly engaged 426 million customer base and remains committed to enhancing digital experiences not only for our existing customers but, for all individuals, households, and enterprises across the country. With its path defining partnerships over the last couple of years, Jio will continue to strive towards making India a premier digital society," Mukesh Ambani said.