The consolidated net profit of Reliance Industries Ltd climbed 108% to ₹13,227 crores in the fourth quarter of 2020-21 from the previous year’s value of ₹6,348 crores with a strong recovery in the oil-to-chemicals (O2C) and retail segments. The company’s revenues from operations grew 11% to ₹ 154,896 crores in the fourth quarter (₹139,535 crores) making the board recommend a dividend of ₹7 per share.

For the full year, RIL posted a net profit of ₹49,128 crores in comparison to ₹39,354 crores in FY20. RIL’s revenues decreased from ₹612,437 crore in FY20 to ₹486,326 crore in FY21 mainly due to the lower volumes and realization across key products in the O2C business.  Mukesh Ambani, Chairman, and Managing Director spoke about Reliance Industries recording a robust recovery in the O2C and retail segment, and resilient growth in digital services business, with continued high utilization rates across sites and improvement in downstream product deltas as well as transportation fuel margins aided O2C earnings growth. RIL’s revenue from the O2C business in FY21 declined 29% from ₹451,355 crores to ₹320,008 crores on lower volumes and price realization across key products. According to the company, the sharp demand contraction in the first half of FY21 impacted growth for the full year. The product price realization was also lower in line with the drop in average crude and feedstock prices. Jio Platforms Ltd posted a 47.5% rise in net profit at ₹3,508 crores for the fourth quarter ended March 31, 2021, compared with ₹2,379 crores in the same period year-ago. Revenue from operations rose 18.9% from ₹15,373 crores to ₹18,278 crores.

The company added 31.2 million gross customers, a net addition of 15.4 million during the quarter with enhanced traction across mobility and homes, 99.3 million users during the financial year ended March 31. The total subscriber base stood at 426.2 million as of March 31. Reliance Retail posted a net profit of ₹2,247 crores in the fourth quarter on revenues of ₹47,064 crores.