New Delhi, May 6
Billionaire Mukesh Ambani’s Reliance Industries Ltd on Friday reported a 22.5% rise in net profit for the quarter ended March on the back of bumper oil refining margins, steady growth in telecom and digital services and strong momentum in the retail business.
The oil-to-retail-to-telecom conglomerate’s consolidated net profit rose to Rs 16,203 crore in the quarter ended March 31, 2022 from Rs 13,227 crore, the firm said.
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), becoming the first Indian company to have crossed $100 billion revenue in a year.
Net profit, however, fell 12.6 per cent sequentially — breaking a six-quarter chain of quarter-on-quarter improvement.
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% year-on-year to Rs 2.32 lakh crore in the fourth quarter of FY22.
The firm reported the highest-ever quarterly EBITDA (earnings before interest, taxes, depreciation and amortisation) of Rs 33,968 crore, up 28 per cent year-on-year.
O2C (oil-to-chemical) business EBITDA was up 25 per cent at Rs 14,241 crore, while digital services pre-tax earnings at Rs 11,209 crore were 25 per cent more than last year. — PTI
Jio Q4 profit rises 24% to Rs 4,173 cr
- Reliance Jio on Friday posted an about 24% rise in standalone profit after tax to Rs 4,173 crore for the quarter ended March 2022
- The company had registered a profit after tax of Rs 3,360 crore in the same period a year ago, the company said
- Standalone revenue increased by over 20% to Rs 20,901 crore, from Rs 17,358 crore in the March 2021 quarter
For all the latest business News Click Here
