The net profit stood at Rs 510 crore in the just-concluded quarter against Rs 504 crore notched in the October-December 2017 period.
Standalone revenue from operations of the company stood at Rs 7,128 crore during the fourth quarter.
Its disruptive telecom business continued to expand aggressively and reported its second consecutive quarterly profit as it lured another 26.5 million customers with tariffs that its rivals blame for their plunging performance. RIL's gross refining margins (GRM) came in at $11 per barrel against $11.6 per barrel in the third quarter. The telecom industry's latest entrant garnered 15 per cent market share, but its average revenue per user fell to '137 during the March quarter, as against the industry high of '156.
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Reliance Retail recorded a 105 per cent surge in revenue to Rs 69,198 crore in FY18. The stock rose almost 6 percent so far in the year 2018 and by about 39 percent in the last one year.
However, segment EBIT declined 11 per cent to Rs 5,607 crore.
RIL's GRM outperformed Singapore complex margins by $4.4/bbl. The revenue from operations in Q4 were at Rs 87,227 crore against Rs 74,598 crore a year ago.
The petrochemicals business reported an EBIT (earnings before interest and taxes) of 87% at Rs 6,435 crore, making the operating profit higher than the refining and marketing operations' EBIT of Rs 5,607 crore.
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Reacting the earning show, Chairman and richest Indian Mukesh Ambani said, "Retail business is, however, yet to make its first net profit. At this level of production, we would have around 35 million tonnes in FY19", he told reporters. "Petrochemicals has done well driven by higher volume and better margins; this improved in the fourth quarter and should continue in the new financial year", he said.
Increase in revenue is primarily on account of volume increase with the start-up of petrochemicals projects and oil price related increase in realizations for refining and petrochemical products.
Of the 38 analysts covering Reliance Industries, 28 recommends "buy" or higher ratings with median target price of Rs 1,053, according to Thomson Reuters Eikon data, while 19 out of 45 analysts have "buy" or higher rating for TCS with median target price of Rs 3,215.
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