Reliance Industries' Q4 net profit up 17.3% at Rs 9,435 crore

Industrialist Mukesh Ambani-led Reliance Industries Limited's (RIL) consolidated net profit for the fourth quarter (January-March) of 2017-18 stood at Rs 9,435 crore, up by 17.3 per cent on year-on-year basis, a company statement said here on Friday.

The company had posted net profit of Rs 8,046 crore for the corresponding quarter in 2016-17.

The company's consolidated revenue stood at Rs 129,120 crore, up 39 per cent during Q4 FY 18, compared to Rs 92,889 crore posted in the corresponding quarter a year ago.

"FY 2017-18 was a landmark year for Reliance where we established several records on both operating and financial parameters. Reliance has become the first Indian company to record PBDIT (Profit Before Depreciation Interest and Taxes) of over $10 billion with each of our key businesses - Refining, Petrochemicals, Retail and Digital Services achieving record earnings performance," said Mukesh D. Ambani, Chairman and Managing Director of RIL.

He said substantial synergies, productivity gains and production growth in the energy and materials business has allowed the company to perform at very competitive levels despite the uptrend in oil prices through the year.

"We have established strong foundations in retailing and digital services business with world-class supply chain management and network infrastructure which will serve our customers well. It is very heartening to see the traction our service offerings are gaining, with discerning Indian consumers. The growing Indian market provides exciting opportunities to scale-up these businesses and maximize long-term shareholder value in the coming years," he added.

--IANS

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