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Reliance Industries (RIL) fell 1.99% to Rs 1954.75 after the company announced its earnings for the quarter and the year ended 31 March 2021 after market hours on Friday (30 April 2021).
On a consolidated basis, the conglomerate reported 108.36% surge in net profit to Rs 13,227 crore on 9.59% increase in net sales to Rs 149,575 crore in Q4 March 2021 (Q4FY21) over Q4 March 2020 (Q4FY20).
The increase in revenue was primarily due to higher volumes in transportation fuels and better price realizations across O2C segment. The robust performance by retail segment across all formats also added to growth in revenue.
EBITDA rose 1.9% quarter-on-quarter (QoQ) and it advanced 2.77% year-on-year (YoY) to Rs 26,602 crore in Q4FY21 over Q4FY20. The sequantial improvement was primarily due to improvement in O2C and retail businesses.
Jio s Q4FY21 revenues were down 5.7 per cent sequentially with Average Revenue Per User (ARPU) declining 8.5 per cent quarter on quarter from Rs 138 due to the removal of interconnect charges (IUC) in Q4, it observed. Jio added 15.4 million subscribers in Q4FY21; a significant improvement after the slowdown witnessed over the previous three quarters; the company added 10.8 million, 7.3 million and 5.2 million subscribers in Q1, Q2 and Q3, respectively, UBS analysis said.
Since sector regulator s data shows that Jio added only 2 million users in January 2021, the latest Q4 report card implies that a strong uptick occurred in February and March.
UBS said that the impact of the ongoing second wave of COVID-19 on subscriber additions will be a key monitorable going ahead.
Ambani’s RIL flags economic pain as virus devastates India
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Last Updated: May 01, 2021, 09:37 AM IST
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Synopsis
Reliance Industries Ltd., India’s largest company by market value and one that’s considered a bellwether for the broader economy, said it hasn’t escaped a devastating new wave of the coronavirus and warned of more pain unless the surge is quickly curbed.
Reliance, whose earnings missed analysts estimates for the March quarter, has signaled more pain in the days ahead unless the virus wave peaks out soon.
By P R Sanjai and Dhwani Pandya
Reliance Industries Ltd., India’s largest company by market value and one that’s considered a bellwether for the broader economy, said it hasn’t escaped a devastating new wave of the coronavirus and warned of more pain unless the surge is quickly curbed.
Mukesh Ambani flags economic pain in his books as virus devastates India
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Mukesh Ambani flags economic pain in his books as virus devastates IndiaBy P R Sanjai and Dhwani Pandya, Bloomberg
Last Updated: May 01, 2021, 08:07 AM IST
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Synopsis
The disclosure underscores the impact India’s deep humanitarian and health care crisis is having on its citizens billionaires or not either through desperate pleas on social media for oxygen or via the earnings of large conglomerates.
Reuters
Reliance Industries Ltd., India’s largest company by market value and one that’s considered a bellwether for the broader economy, said it hasn’t escaped a devastating new wave of the coronavirus and warned of more pain unless the surge is quickly curbed.