Mukesh Ambani-led RIL’s fourth quarter (January-March) net profit rose 108.36 per cent on-year to Rs 13,277 crore, which is below estimates. Oil-to-telecom major had reported a consolidated net profit of Rs 6,348 crore in the year-ago quarter. Earlier in the previous quarter (October-December 2020), Reliance Industries Ltd had posted a net profit of Rs 13,101 crore. RIL’s consolidated revenue from operations came in at Rs 1.54 lakh crore in the fourth quarter, against Rs 1.39 lakh crore in the corresponding quarter last year and Rs 1.23 lakh crore in the October-December quarter.
RIL declared a dividend of Rs 7 per equity share of Rs 10 each for the financial year ended 31 March, 2021. Most brokerages such as Kotak Securities and JM Financial had estimated RIL to report a 100 per cent on-year rise in net profit on a low base. A CNBC TV18 poll of analysts had estimated RIL to post a net profit of Rs 14,800 crore on a revenue of Rs 1.45 lakh crore in the fourth quarter.
