Reliance Industries Limited (RIL) shares traded flat in the early market hours on April 23, but, the company has significantly contributed to the growth of various sectors of the Indian economy. RIL achieved multiple milestones this year, becoming the first Indian company to cross the Rs 100,000-crore threshold in pre-tax profits, as per its recent regulatory filing.

Jio has over 108 million True 5G customers, leading the 5G transformation in India. Reliance Retail provides endless choices through its omnichannel presence. 

The Oil to Chemical (O2C) segment delivered a resilient performance, and the KG-D6 block now accounts for 30% of India’s domestic gas production. RIL remains committed to its projects and initiatives, including those in the New Energy segment.

RIL released its financials for the preceding two years and Q4FY23 & Q4FY24.

Gross revenue for the fiscal year was up 2.6% YoY to INR 1,000,122 crore (USD 119.9 billion), driven by growth in consumer and upstream businesses. 

Jio Platform Ltd (JPL’s) revenue rose by 11.7% YoY, while RRVL’s revenue grew by 17.8% YoY. Oil to chemicals (O2C) revenue dropped by 5.0% YoY due to lower product price realization. 

Earnings before interest, tax, depreciation, and amortisation (EBITDA) increased by 16.1% YoY to INR 178,677 crore (USD 21.4 billion), with positive contributions from all key operating segments. 

Profit after tax increased by 7.3% YoY to INR 79,020 crore (USD 9.5 billion). Capital expenditure for the year was INR 131,769 crore (USD 15.8 billion), focusing on 5G rollout, retail infrastructure expansion, and new energy business.

In the fourth quarter (Q4) of the fiscal year, gross revenue was INR 264,834 crore (USD 31.8 billion), up 10.8% YoY, supported by double-digit growth in O2C and consumer business.

EBITDA increased by 14.3% YoY to INR 47,150 crore (USD 5.7 billion) with strong contributions from all businesses.

Profit after tax slightly improved YoY to INR 21,243 crore (USD 2.5 billion). Capital Expenditure for the quarter ended March 31, 2024, was INR 23,207 crore (USD 2.8 billion).

However, at 3:30 pm, the shares of RIL closed 1.36% lower at Rs 2,919.50 on NSE.