In the face of slowing revenue growth, top IT exporters Infosys, TCS, and Wipro are focusing on optimizing processes to improve efficiency and cut costs. This strategy has become crucial for these companies to maintain profitability amidst the current economic climate.
Reliance Industries, India’s largest conglomerate, reported a fourth-quarter profit above analysts’ estimates, boosted primarily by its oil-to-chemicals (O2C) business.
The company’s consolidated profit fell slightly by 2% year-over-year to 189.51 billion Indian rupees ($2.27 billion), but it exceeded market expectations of 185.22 billion rupees.
Reliance reported a revenue growth of 11.6% to 2.41 trillion rupees, with the O2C segment driving this growth due to improved fuel prices and increased volumes.
Reliance Industries’ (RIL) Q4FY24 earnings brought mixed results. While revenue grew by 10.8% to ₹2,64,834 crore, profit after tax declined by a marginal 0.4% to ₹21,243 crore. Key highlights include double-digit growth in revenue, profit, and EBITDA for Jio Platforms, driven by subscriber growth and increased data and voice traffic. However, EBITDA margin for Jio Platforms slightly declined. The company witnessed strong contributions from O2C and consumer businesses, while the impact of lower refining margins was offset by higher chemical spreads.
Reliance Industries Ltd (RIL) reported a slight decline in its net profit for the March quarter, while its revenue from operations witnessed a significant surge. The company’s consolidated net profit for the quarter stood at Rs 18,951 crore, representing a 1.80% year-on-year (YoY) decrease from the Rs 19,299 crore reported in the corresponding quarter last year. However, RIL’s consolidated revenue from operations rose by 11.3% YoY to Rs 2,40,715 crore, compared to Rs 2,16,265 crore in the same quarter last year. The company’s EBITDA for the quarter also grew by 14.3% YoY to Rs 47,150 crore, while its EBITDA margin came in at 17.8%, a rise of 50 basis points over the 17.3% reported in the year-ago quarter. RIL’s board of directors declared a dividend of Rs 10 per share for the financial year 2023-24. The company’s strong performance was attributed to its key businesses, including Jio, Reliance Retail, and the oil and gas segment. Jio’s EBITDA increased by 12.5% YoY, while Reliance Retail continued to perform well with its omni-channel presence. The oil and gas segment also witnessed a significant increase in its EBITDA, primarily driven by higher gas and condensate production from the KG D6 block.
**LiveOne (LVO)** had a strong year with subscription and sponsorship revenue growth. The company anticipates further revenue growth in FY25, with a focus on its Audio Division and share buybacks. Here’s a summary of the key highlights:
– FY24 Revenue: $118.5M, Adjusted EBITDA: $14.4M
– Q4 FY24 Revenue: $30.3M, Adjusted EBITDA: $4.3M
– FY25 Revenue Guidance: $140M-$155M, Adjusted EBITDA: $16M-$20M
– Audio Division FY25 Guidance: Revenue: $130M-$140M, Adjusted EBITDA: $20M-$25M, Positive Cash Flow: $17M+
– Shared Repurchased: ~4M, $5M Remaining for Continued Repurchases
– Current Cash Position: $10.6M
LiveOne believes its stock is undervalued and will continue to focus on delivering results for shareholders.
