The fourth-quarter results of one of India's largest conglomerates sent its stock price soaring to an all-time peak. Strong performance across business divisions helped deliver robust profits that exceeded analyst estimates.
Energy and petrochemicals giant reported consolidated net profit of Rs. 13,227 crore for the January-March period, which is up 22.5% from the same period last year. This impressive growth was driven by strong momentum in the company's retail and telecom units. Total revenue for the company stood at Rs. 1.54 lakh crore, higher by 25% year-over-year.
Investors responded enthusiastically to the solid quarterly performance. Shares of the massive conglomerate surged nearly 9% to reach a new lifetime high of Rs. 2,855 apiece on the BSE. This outstanding success follows several profitable quarters and underscores the firm's diversification strategy into newer sectors.
Retail revenue jumped by 8% aided by strong growth in grocery and apparel. The telecom arm, which has gained over36.5 million subscribers since launch, continued adding new customers at a rapid clip. Meanwhile, refining and petrochemical divisions delivered steady earnings growth despite disruptions earlier in the year.
The robust Q4 showing underscored the company's strong recovery after the pandemic. It has emerged as one of India's most valuable companies boosted by expanding consumer-focused businesses. With upcoming strategic investments and new initiatives, analysts remain bullish on its future prospects.
