Reliance Jio Q4 net profit to Rs 510 crore; ARPU declines

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On a sequential basis, the companys net profit rise was only 0.1 per cent, RIL said in a statement. For the full year, RIL's net profit stood at Rs36,075 crore, up 20.6% from 2016-17.

With that, RIL's retail business for the whole year stood at ₹69,198 crore, more than double from the previous year, thus making it the biggest retailer in the country. The company had reported PBDIT of Rs 352 crore during the corresponding period past year.

"FY18 was a landmark year for Reliance, where we established several records on both operating and financial parameters".

Reliance Jio net profit increased marginally by 1.2% to Rs. 510 crore as the company's average revenue per user (ARPU) decreased to Rs. 137 compared with Rs. 154 in the immediately preceding quarter.

The company also reported record EBIT (earnings before interest and tax) from across business segments, including refining, petrochemicals, retail and digital services.

Superior refinery explosion: 11 hurt, miles evacuated
Fire Chief Steve Panger said local authorities were still working with federal agencies to determine the cause of the explosion. There were no reports of fatalities, and all of the refinery's workers have been accounted for, Husky Energy's Duvall said.

The Mukesh Ambani led Reliance Jio on Saturday launched a new "JioFi exchange offer", where a customer can exchange an old dongle or Modem for a new JioFi dongle at just Rs 999 and get Rs 2,200 cashback instantly.

RIL's organised retail business delivered a pleasant surprise. The refining margin was much higher than its global peers, but slightly lower than $11.5 it reported in the same quarter past year. A sharp rise in benchmark crude oil prices and the rupee depreciating against the USA dollar doesn't bode well for oil marketing companies; oil refining, marketing and petrochemicals account for the bulk of RIL's revenues. Organised retail revenue rose 134% to Rs 24,183 crore while operating profit jumped 291% to Rs 951 crore, reflecting much higher operating margins from its operations across 3,837 stores in 750 cities. This indicates that makes around Rs 105 crore a day.

During the quarter, RIL announced strategic transaction with Saavn to form India's largest platform for music, media and artists through its digital music service, JioMusic.

Jio brings a Jio Exchange Offer. 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.