Key takeaways from RIL’s fourth quarter numbers

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Net profit rose 22.5% in the fourth quarter thanks to growth in key businesses – energy, telecommunications and retail. For the said quarter, the number stood at Rs 16,200 crore compared to Rs 13,227 crore for the corresponding period of the previous financial year.

Its oil-to-chemicals (O2C) business saw revenue grow by 44.2% to cross Rs 1.45 lakh crore and exceed Rs lakh crore in FY22. EBITDA grew by 25%, with margins down 1.5% (9.8% vs. 11.3%), which the company attributed to “the base effect driven by higher commodity and product prices.”

Jio’s customer base shrunk by nearly 11 million to end the quarter at 410.2 million. Jio Platforms gross revenue, however, increased by 21% to Rs 26,139 crore, while EBITDA increased by 27.4%. 48% higher data traffic (closed at 24.6 billion GB) helped offset the decline in subscribers, except for average revenue per user (ARPU) of 10.5% higher at Rs 167.6 or an increase of 21.3% on a year on year basis.

On a consolidated level, Reliance Retail’s gross revenue took off by 23.3% to exceed Rs 58,000 crore. EBITDA rose modestly by 2.4% to close at Rs 3,705 crore. During the quarter, 793 stores opened across all formats, bringing the total number of physical stores to 15,196. Total operating square footage also increased from 33.8 million square feet to 41.6 million square feet.

Transactions between companies: the group’s transaction history passed some critical milestones during the quarter. Among the most important were:

  • An agreement with Abu Dhabi’s TA’AZIZ for the production of chemicals in addition to a foray into traditional and unconventional resources
  • Creation of a joint venture with Sanmina for an electronic manufacturing center in India
  • Jio Platform invests $200 million in Glance for a lock screen platform
  • Reliance Retail takes 89% stake in Purple Panda Fashions
  • The new energy business acquires Sterling & Wilson Renewable Energy in addition to Lithium Werks, a player in the field of batteries
  • Viacom18 enters strategic partnership with Bodhi Tree Systems for Rs 13,500 crore to boost entertainment business


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