Mukesh Ambani-led Reliance Industries has released its Q4 results, reporting an 11% YoY increase in revenue from operations that stood at Rs 2.4 lakh crore in the quarter ended March 2024. The conglomerate posted Rs 2.16 lakh crore in the same period a year ago.

Annual consolidated revenue for RIL stood at Rs 10 lakh crore, up 2.6% on a YoY basis.

The consolidated net profit stood at Rs 18,951 crore for the final quarter, reporting a 2% drop from Rs 19,299 YoY.

The RIL board has reportedly approved a second dividend of Rs 10 per share for FY24 as opposed to Rs 9 in the last fiscal.

The strong revenue growth was attributed to the conglomerate's oil-to-chemical business.

RIL's digital arm, Jio Platforms posted a 13% increase in operating revenue growth YoY thanks to its subscriber growth and improvement in ARPU. Net profits stood at 12% growth YoY to Rs 5,583 crore. EBITDA was at 12% at Rs 14,360 crore.

The media business of RIL showed robust growth with revenue from ops up 63% YoY to Rs 2,419 crore spurred by its sports, movies and news business.

Ad revenue growth on both TV and digital platforms helped boost news biz's revenue by 25%.

Commenting on the results, Mukesh D. Ambani, Chairman and Managing Director, Reliance Industries Limited said: “Initiatives across RIL’s businesses have made a remarkable contribution towards fostering growth of various sectors of the Indian economy. It is heartening to note that alongside strengthening the national economy, all segments have posted a robust financial and operating performance. This has helped the Company achieve multiple milestones. I am happy to share that this year, Reliance became the first Indian company to cross the ? 100,000-crore threshold in pre-tax profits. Performance of the digital services segment has been boosted by accelerated expansion of subscriber base, supported by both mobility and fixed wireless services. With over 108 million True 5G customers, Jio truly leads the 5G transformation in India. From upgrading the hitherto 2G users to smartphones, to leading the effort of producing AI-driven solutions, Jio has proved its capability in strengthening the nation’s digital infrastructure. Reliance Retail continued to provide customers endless choices through its robust omni-channel presence. We continue to offer product differentiation and superior offline experience through stores remodelling and revamping of layouts. Our digital commerce platforms also provide newer solutions to users with a broad brand catalogue. Reliance Retail also works towards strengthening millions of merchants through its unique initiatives in new commerce space. Strong demand for fuels globally, and limited flexibility in refining system worldwide, supported margins and profitability of the O2C segment. Downstream chemical industry experienced increasingly challenging market conditions through the year. Despite headwinds, maintaining leading product positions and feedstock flexibility through our operating model that prioritises cost management, we delivered a resilient performance. The KG-D6 block has achieved 30 MMSCMD of production and now accounts for 30% of India’s domestic gas production. We remain committed to our projects and initiatives, including those in the New Energy segment, which will bolster the company, and help it deliver sustainable growth for the future.”