RIL's Q4 net profit stays flat

Reliance Industries Ltd on Monday reported an almost flat March quarter net profit, amid a recovery in its core oil and petrochemicals business and sustained momentum across the consumer-facing telecom and retail businesses.

RIL's net profit stood at Rs 18,951 crore, or Rs 28.01 per share, in the January-March quarter of the 2023-24 fiscal as compared to Rs 19,299 crore, or Rs 28.52 a share, a year ago, according to a company's stock exchange filing.

The revenue from operations rose 11 per cent to Rs 2.64 lakh crore on higher oil prices.

For the full fiscal FY24 (April 2023 to March 2024), Reliance posted a record net profit of Rs 69,621 crore as compared to Rs 66,702 crore in the preceding financial year.

Reliance became the first Indian company to hit Rs 10 lakh crore turnover in FY24.

Turnover rose 2.6 per cent to Rs 10 lakh crore during the reporting year from Rs 9.74 lakh crore in 2022-23.