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Reliance Industries First Indian Company To Cross $100 Billion in Annual Revenue

The company reported a 22.5 percent rise in net profit for the quarter ended March.

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India
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On Friday, Mukesh Ambani-led Reliance Industries Limited became the first Indian company to surpass a gross revenue of over $100 billion or about Rs 792,756 crores in a year.

The company reported a 22.5 percent rise in net profit for the quarter ended March. Its annual profit after tax neared the $10-billion mark, as it stood at Rs 67,845 crore ($9 billion) increasing by 26.2 percent.

Reliance Retail continued to grow with a revenue of Rs 58,019 crore, while Jio reported revenue of Rs 20,901 crore, up 20.5 percent from the previous year.

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Reliance Industries also reported a consolidated EBITDA (earnings before interest, taxes, depreciation, and amortisation) of Rs 33,493 crore in the January-March quarter, up by 28 percent year-on-year.

Its net profit, however, fell 12.6 percent sequentially, PTI reported, breaking a six-quarter chain of quarter-on-quarter improvement.

"Despite the ongoing challenges of the pandemic and heightened geo-political uncertainties, Reliance has delivered a robust performance in FY2021-22. I am pleased to report strong growth in our Digital Services and Retail segments."
Mukesh Ambani, Chairman and Managing Director, Reliance Industries

"Over the past year, we added over 2.1 lakh new employees across our businesses with our consumer & technology biz creating a large part of these new jobs. I am pleased to report that our Retail biz has crossed 15,000 store benchmark," he said.

(With inputs from PTI and IANS)

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