Mukesh Ambani-led Reliance Industries on Thursday posted the highest quarterly net profit by any Indian private sector firm with a 9.8 percent rise in earnings in the period ended March 31 after robust business in retail and telecom sectors offset a dip in oil refinery margins.

The oil-to-telecom conglomerate reported a 9.8 percent rise in its consolidated net profit at Rs 10,362 crore, or Rs 17.5 per share, in the fourth quarter ended March 31, 2019, as compared to Rs 9,438 crore, or Rs 15.9 a share, in the same period of the previous financial year, the company said in a statement.

This is the highest quarterly profit by any Indian private sector company. State-owned Indian Oil Corp (IOC) holds the distinction of posting the highest ever quarterly profit by any Indian firm when it had reported a net profit of Rs 14,512.81 crore in January-March 2013 after it received the full-year fuel subsidy in just one quarter.

Highlights of the Reliance Industries Q4 result:

Reliance earnings below estimates

Petchemical business reports fall in EBIT for first time in 8 quarters

Petchem EBIT down 3 percent QoQ at Rs 7,975 crore vs Rs 8,221 crore

Refining biz weakens further , EBIT down 17 percent QoQ

GRM down 6.8 percent qoq at 8.2$/bbl, In line with expectations

No positive surprise in Reliance Jio earnings

Retail business operating performance strong , however revenue growth slows down QoQ

Net profits boosted by higher other income and reduction in deferred tax

Revenue down 11.3 percent at Rs 1.38 lakh crore against Rs 1.56 lakh crore (QoQ)

EBITDA down 2.3 percent at Rs 20,832 crore against Rs 21,317 crore (QoQ)

EBITDA margin at 15.02 percent against 13.63 percent (QoQ)

Net profit up 1.1 percent at Rs 10,362 crore against Rs 10,251 crore (QoQ)

Q4FY19 petrochemicals EBIT down 3 percent QoQ at Rs 7,975 crore against 8221 crore

Q4FY19 petrochemicals EBIT declines after eight successive quarters of growth

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First Published:Apr 18, 2019 9:40 PM IST