Page 34 - Plastics News May 2021

Business news

BASF India standalone net profit RIL Q4 Net profit surges to

rises 24.74% at Rs55.81cr Rs13,227 crores

ASF India reported Net profit Rs 55.81 crore in the eliance Industries (RIL)
Bquarter ended March 2021 up 24.74% to as against Rreported a consolidated
Rs 44.74 crore during the previous quarter ended March net profit of Rs 13,227 crore
2020. The company registered a 48.28% y-o-y growth in for the quarter ended March
consolidated sales revenues for the Mar-21 quarter at 31 as compared to Rs 6,348
Rs2,805.58cr. The growth over the Mar-20 quarter did get crore (including exceptional)
magnified as Mar-20 was an exceptionally weak quarter in the same quarter last year.
due to COVID. Revenues were up sequentially at 11.9%. The conglomerate had a one-
In terms of specific verticals, BASF saw robust growth time gain of Rs 797 crore for
in its materials vertical, agricultural solutions business, the period. It had posted a
industrial solutions business, nutrition & care business one-time exceptional loss of
and its core chemicals business. However, the surface Rs 4,267 crore in Q4FY20.The consolidated revenue
technologies business saw a yoy fall in sales. For the Mar-21 from operations has come in at Rs 154,896 crore,
quarter, the consolidated operating profits were up 362% at up 11% from Rs 39,535 crore year-on-year (YoY).
Rs176.85cr. The operating performance in Mar-21 quarter The company said a dividend of R 7 per equity share
benefited from higher sales resulting in better absorption
of fixed costs. The operating profit margin expanded from has been recommended for the financial year ended
2.02% in the Mar-20 quarter to 6.30% in Mar-21 quarter. OPM March 31, 2021. The telecom arm of RIL, Reliance
was lower on a sequential quarter basis. The consolidated Jio, witnessed a 47.5% year-on-year growth in the
Profit after tax (PAT) for the Mar-21 quarter was muted net profit at Rs 3,508 crore in the fourth quarter, as
with growth of 24.74% at Rs55.81cr. This was on account compared to Rs 2,379 crore in the same period last
of an exceptional loss of Rs21.5cr booked in the Mar-21 year. The consolidated revenue from operations grew
nearly 19% to Rs 18,278 crore against Rs 15,373 crore
year-on-year (YoY). Jio posted a total average revenue
per customer (ARPU) during the quarter of Rs 138.2
per subscriber per month while customer base as on
31st March 2021 stood at 426.2 million, the company
said. For Reliance Retail business, net profit for the
quarter was Rs 2,247 crore while revenue was at Rs
47,064 crore. The company said that it 826 stores
opened during the quarter. Commenting on the results,
Mukesh Ambani, Chairman and Managing Director,
said: ''We have registered robust recovery in O2C and
retail segment, and resilient growth in Digital Services
business. Sustained high utilization rates across sites
quarter on account of employee compensation for business and improvement in downstream product deltas as
realignment. Net margins contracted from 2.36% in Mar-20 well as transportation fuel margins aided O2C earnings
quarter to 1.99% in the Mar-21 quarter. NPM was sharply growth. Our consumer businesses have proved to be
lower on sequential basis compared to 4.59% in Dec-20 a digital and physical lifeline for the nation in these
quarter. For the full year,net profit rose 2316.31% to Rs challenging times.'' Ahead of Q4 results announcement,
552.61 crore in the year ended March 2021 as against Rs RIL share price fell 1.42 per cent to end at Rs 1,994.45
22.87 crore during the previous year ended March 2020. apiece on BSE. So far in April 2021, RIL share price has
Sales rose 26.02% to Rs 9543.18 crore in the year ended
March 2021 as against Rs 7572.94 crore during the previous lost 1.3 per cent. However, RIL stock is still trading
year ended March 2020. below its 52-week-high of Rs 2,368 per share.

Plastics News May 2021 34