Mumbai : Mukesh Ambani-led oil to telecom conglomerate Reliance Industries Limited on May 6 reported a 22.5 percent year-on-year growth in its consolidated net profit to Rs 16,203 crore for the quarter ended March. RIL’s consolidated revenue from operations surged 36.8 percent year-on-year to Rs 2.1 lakh crore for the reported quarter, which met Street’s estimate of Rs 2.1 lakh crore. The company’s board also recommended a Rs 8 per share dividend for the financial year ended March 31, 2022.
Reliance Jio has reported a 15.4 percent quarter-on-quarter increase in net profit at Rs 4,173 crore for the fourth quarter.
“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” Mukesh D. Ambani, Chairman and Managing Director, Reliance Industries Limited said.
“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. 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% of domestic gas production. 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 said.