Reliance Jio gets Rs 2,331 crore profit, RIL to raise Rs 104,000 crore by first quarter

Mumbai. Reliance Jio, the telecom company of Reliance Industries, reported a profit of Rs 2,331 crore in the fourth quarter. In the same period, Jio’s income has been Rs 14,385 crore.

During the financial results released on Thursday, Reliance Industries reported that the company had a profit of Rs 6,348 crore in the January-March quarter of 2020.

Whereas the company had a profit of Rs 11,640 crore in the previous quarter. At the same time, the company had a profit of Rs 10,362 crore in the fourth quarter of last year.

The company’s revenue in the March quarter stood at Rs 136,000 crore as against Rs 152,939 crore in the previous quarter.

Petrochemicals business income decreased

The company’s income was Rs 1386,59 crore in the March quarter of last year. Reliance Jio has reported a profit of Rs 2,331 crore in the fourth quarter, while Jio’s revenue has been Rs 14,835 crore during the period.

On aquarterly basis, the company’s income from petrochemicals business has come down from Rs 36,909 crore to Rs 32,206 crore.

The company’s revenue from the refining business declined to Rs 84,854 crore in the fourth quarter from Rs 1.03 lakh crore in the previous quarter.

Retail debit margin increased

In the same period, refining debit from Rs 6,808 crore to Rs 6,614 crore and refining debit margin increased from 6.6 percent to 7.8 percent.

The company’s revenue from retail business in the fourth quarter increased to Rs 38,211 crore from Rs 36,663 crore in the fourth quarter of last year.

The company’s retail debit for the quarter increased from Rs 1923 crore to Rs 2556 crore. At the same time, retail debit margin has increased from 5.2 per cent last year to 7 per cent.

Will raise capital of Rs 104,000 crore

Reliance Industries’ earnings per share, or EPS, declined by 42.8 percent. It has come down from Rs 17.5 per share to Rs 10.

The company said that by the first quarter of the financial year 2020-21, the rights issue, Facebook’s investment and the investment made by BP will be completed with a total capital raising plan of Rs 104,000 crore. Also due to deal with Saudi Aramco, Due Diligence is on track.

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