- 29 Apr 2024
- ICICIdirect
Reliance Industries Q4 Results 2024: Net Profit above expectation, dividend declared
RELIANCE - 2833 Change: -7.60 (-0.27 %)
Reliance Industries reported its Q4FY24 numbers on Monday evening, 15th April. On Tuesday, the stock price was trading 0.48% lower, around Rs 2,945 per share. Let us look at Reliance's quarterly numbers in detail.
About Reliance Industries
Reliance Industries is an Indian conglomerate founded by Dhirubhai Ambani in 1966. It operates in various sectors, including petrochemicals, refining, oil and gas exploration, retail, and telecommunications. It was one of the largest companies in India.
Crucial parameters
- PE: 47.53
- 52-week high: Rs 3,024.80
- Market Cap: Rs 19,93,510.71 crore
- EPS(TTM): 16.68
Share price movement
In the last month, Reliance's share price has increased by nearly 2%. In 6 months, the shares have given an exceptional return of 28.05% to its investors. In one year, the Reliance share has increased by 37.52%. In the five-year time frame, Reliance shares have given investors more than 110% returns, better than the benchmark indices.
How has Reliance performed in Q4FY24?
Let us look at Reliance's March'24 quarter numbers in detail:
Revenue: The consolidated revenue reported by the company for the quarter ended March was Rs 2,64,834 crore. The revenue reported was up 10.8% YoY and 6.7% sequentially. The YoY revenue growth was led by low double-digit growth in consumer and O2C business
EBITDA: The company reported an EBITDA of Rs 47,150 crore for Q4FY24 compared to Rs 44,678 crore in Q3FY24 (5.5% higher sequentially) and Rs 41,251 crore in the year-ago period (14.3% growth YoY). Continuing momentum in consumer businesses driving strong EBITDA growth. Also, higher KG D6 volumes boosted upstream EBITDA
Net Profit: Reliance Industries reported a net profit of Rs 21,243 crore, 8.2% sequentially and 0.1% YoY. Net profit marginally up YoY as tax credits availed last year.
How have different segments performed under Reliance in Q4FY24?
Reliance Industries has recorded robust numbers for the March quarter, with profit and operating numbers boosted by retail, digital (Jio), and oil & gas businesses. Let us look at the performance of each sector in detail:
Retail: The retail segment reported a revenue of Rs 76,627 crore, a strong double-digit growth of 11% YoY. EBITDA was Rs 5,823 crore, a growth of 19% YoY. The profit after tax (PAT) reported was Rs 2,698 crore, a 12% growth YoY. The total store count increased by 62 in Q4FY24, taking the total store count to 18,836. The company's footfalls in the stores stood at 300 million, footfalls of >1 bn and transactions > 1.25 bn.
Digital Servies: The segment includes the Telecom business. Jio reported an operating revenue of Rs 28,871 crore, a growth of 13.4% YoY. EBITDA was 14,360 crore, a growth of 12.5% YoY. ARPU for the March quarter reported was Rs 181.7, the same as last quarter. The subscriber base at the end of the March quarter was 48.18 crore, a net addition of 1.17 crore in the March quarter. The segment reported robust growth in data consumption led by an increasing mix of 5G & Home users with per capita usage of 28.7 GB per month. Total data and voice traffic in Q4’FY24 increased 35.2% and 9.7% YoY, respectively.
O2C: The revenue was up by 10.9% compared to the year-ago period and stood at Rs 1,42,634 crore. Also, the EBITDA was up by 3% YoY and 19.3, sequentially led by value-added crude processing, which helped mitigate the sharp fall in fuel cracks. The margin environment across fuels and chemicals declined YoY for three reasons:
- Fuel cracks declined 11-18%
- Polymer deltas declined 9-34% with subdued global demand and excess supply
- Polyester chain deltas declined 6%
Oil & Gas: The oil & Gas segment reported a revenue of Rs 6,468 crore, up 42% YoY and down 3.7% sequentially. The EBITDA was up 47.5% YoY and stood at Rs 5,606 crore. The company reported its best-ever quarter EBITDA in the March quarter. The robust Y-o-Y EBITDA growth led by 66.4% higher production from the KG D6 block.