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Reliance became 1st Indian company to cross USD 100 bn annual revenue

Reliance became 1st Indian company to cross USD 100 bn annual revenue
Reliance became 1st Indian company to cross USD 100 bn annual revenue
  • Reliance Industries become the first Indian company to record annual revenue of more than a whopping $100 billion. The company has recorded a 22.5% rise in net profit for the quarter ended March 2022. Reliance has recorded strong growth in retail, digital services, and the oil & gas business. The company has also reported the highest-ever quarterly EBITDA (earnings before interest, taxes, depreciation and amortisation) of Rs. 33,968 crores (28% up) year-on-year.
  • Reliance’s earnings also rose because of a rise in broadband subscribers, online retail gaining traction and new energy investment picking roots.
  • Consolidated revenue of the nation’s biggest company by market value rose 35 per cent 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 (USD 102 billion). It is the first Indian company to have crossed USD 100 billion in revenue in a year.

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Published date : 10 May 2022 06:11PM

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