Shares of Reliance Industries ended over 1 per cent higher today after hitting a nine-year high, as the company reported a record fourth-quarter net profit of Rs 8,046 crore.
Reliance Industries Ltd.'s profit in the fourth quarter increased to a record on higher earnings from petrochemicals and oil refining. The current market cap of the company is Rs 460518.96 crore. Meanwhile, revenues from operation of the energy giant surged 38 per cent to Rs 74,598 crore as against Rs 54,189 crore a year ago.
The gross refining margin, or GRM - a key metric for oil companies - came in at $11.5 per barrel for Q4, up from $10.8 in the corresponding quarter last fiscal.
Shares of the company gained Rs 16.65, or 1.19%, to settle at Rs 1,416.40.
On NSE, the stock went up 3.55 per cent to Rs 1,467.75.
RIL stated that Reliance Jio Infocomm, its telecom and digital services subsidiary through which it has rolled out pan-India fourth generation broadband wireless voice and data services had a customer base of 109 million subscribers on its network as of March 31.
"Operationally, we continue to scale new heights".
TCS had replaced RIL as the most valued firm more than four years ago but a sharp rally in the shares of the Mukesh Ambani-led firm in recent past has helped the company close the gap.
-Paid up debt-capital (capital raised from stock/share sales) stood at Rs 47,463 crore in FY17.
Reliance Retail's device distribution business sold 2.6 million LYF and JioFi devices in Q4 and almost 10 million units in the financial year.
RIL said this was primarily because of an increase in prices across all products, though it was partially offset by lower volumes.
Jio, however, controls the highest chunk of 4G airwaves across India and has introduced a range of features to woo consumers in one of the world's most competitive telecoms markets, from mobile phone apps to its own handset brand.
Deep-pocketed Reliance Jio is on a $20 billion-plus spending spree to grab a larger chunk of the country's vast mobile market.
During the quarter, Reliance completed world's largest and most complex ethane project.
Talking about RIL's retail store business, Agarwal said: "During the quarter, Reliance Retail added 63 stores across various store concepts". This takes the total number of operational stores to 3,616 across 702 cities with an area of over 13.5 million square feet.