Mukesh Ambani-led conglomerate Reliance Industries on Friday reported a 17.3% jump in its fourth quarter net profit on the back of robust petrochemical margins and upstart telecom arm Jio’s maiden profits.
Its net profit of ₹9,435 crore, or ₹15.9 per share, in January-March was 17.3% higher than ₹8,046 crore, or ₹13.6 a share, posted in the same period a year ago.
On a sequential basis, the company’s net profit rise was only 0.1%, RIL said in a statement.
The company, however, reported a record net profit of ₹36,075 crore for the 2017-18 fiscal, up 20.6%.
The firm’s telecom arm, Jio, reported a net profit of ₹510 crore (on a quarterly basis) in the fourth quarter on a revenue of ₹7,128 crore.
The company’s board has recommended a dividend of ₹6 per share for Reliance shareholders.
Reliance Industries limited has businesses spread over segments such as petrochemicals, refining, mining, retail, oil and gas, and telecom.
RIL shares ended 1.99% higher at ₹1000.15 on the BSE on positive earnings expectations on Friday.
{{/usCountry}}RIL shares ended 1.99% higher at ₹1000.15 on the BSE on positive earnings expectations on Friday.
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