Reliance Industries Q4 profit rises 22.5 pc to Rs 16,203 cr

Reliance Industries Limited (RIL) on Friday reported a consolidated net profit of Rs 16,203 crore for the fourth quarter of 2021-22, registering a year-on-year growth of 22.5 per cent.

Mumbai: Reliance Industries Limited (RIL) on Friday reported a consolidated net profit of Rs 16,203 crore for the fourth quarter of 2021-22, registering a year-on-year growth of 22.5 per cent. The company's consolidated net profit for the year ended March 2022 surged to Rs 67,845 crore ($9.0 billion), posting year-on-year growth of 26.2 per cent.

The country's most valuable firm's gross revenue surged by 47 per cent year-on-year to Rs 792,756 crore ($104.6 billion) in 2021-22. Reliance Industries Limited's EBITDA for the year ended March 2022 surged by 28.8 per cent to Rs 125,687 crore ($16.6 billion).

Commenting on the results, Mukesh Ambani, Chairman and Managing Director, Reliance Industries Limited, said: "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. Our O2C business has proven its resilience and has demonstrated strong recovery despite volatility in the energy markets."

"Our relentless focus on customer satisfaction and service has led to higher engagement and increased footfalls, driving robust revenue and earnings figures across our consumer businesses. The gradual opening up of economies coupled with sustained high utilization rates across sites and the improvement in transportation fuel margins and volumes have bolstered our O2C earnings," he said in a statement.

During the year, Reliance has also been able to generate significant employment opportunities for the people of our country and continues to remain amongst India's largest private-sector employers. Over the past year, we added over 2.1 lakh new employees across our businesses with our consumer and technology business creating a large part of these new jobs, Ambani said.

"I am pleased to report that our Retail business has crossed the 15,000 store benchmark. JioFiber is now the largest broadband provider in India within two years of launch. Oil and Gas business is now contributing 20 per cent of domestic gas production," he said.

"I am particularly happy with the progress our company is making in the New Energy and New Materials business. We are forging ahead with the development of our New Energy Giga Factories complex across 5,000 acres in Jamnagar. And with the strong global partnerships we have, I am confident that Reliance will create sustainable and affordable new energy solutions for India to help her meet growing energy needs, while ensuring that we achieve our ambitious target of Net Carbon Zero by 2035," he added.