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Reliance Industries becomes first Indian company to cross $ 100 billion revenue

Mumbai: Multinational conglomerate based in India, Reliance Industries Ltd (RIL) become the first Indian company to cross $ 100 billion revenue in a year. The net  profit of the company lead by Mukesh Ambani rose to Rs 16,203 crore in the quarter ended March 31, 2022 from Rs 13,227 crore. This is a net gain of 22.5%. Net profit, however, fell 12.6% sequentially — breaking a six-quarter chain of quarter-on-quarter improvement.

The total consolidated revenue of the RIL by market value rose by 35% year-on-year to Rs 2.32 lakh crore in the fourth quarter of FY22. For the full fiscal 2021-22 (April 2021 to March 2022), Reliance reported a net profit of Rs 60,705 crore on a revenue of Rs 7.92 lakh crore ($ 102 billion).

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RIL reported the highest-ever quarterly EBITDA (earnings before interest, taxes, depreciation and amortisation) of Rs 33,968 crore, up 28% year-on-year. O2C (oil-to-chemical) business EBITDA was up 25% at Rs 14,241 crore, while digital services pre-tax earnings at Rs 11,209 crore were 25% more than last year.

Retail EBITDA was up 2.5% at Rs 3,712 crore and gas production from satellite fields in the KG-D6 block boosted oil and gas EBITDA over three folds to Rs 1,556 crore.

RIL operates four business verticals — O2C business includes its oil refineries, petrochemical plants, and fuel retailing business; a retail business that houses brick-and-mortar stores and e-commerce; digital services that cover telecom arm Jio; and new energy business.


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