Sunday, February 9, 2025
HomeBusinessRIL 1st Indian co to hit $100bn revenue; Q4 profit up 22%

RIL 1st Indian co to hit $100bn revenue; Q4 profit up 22%

RIL 1st Indian co to hit $100bn revenue; Q4 earnings up 22%

NEW DELHI: Dependence Industries consolidated net revenue leapt 22.5 per cent in the 4th quarter ended March 31, 2022, the company said in a regulatory filing on Friday.
RIL published a net profit of Rs 16,203 crore in the duration under factor to consider as against Rs 13,227 crore reported in very same duration in 2015.
For the complete fiscal 2021-22 (April 2021 to March 2022), Dependence reported a net revenue of Rs 60,705 crore on a revenue of Rs 7.92 lakh crore ($102 billion).
With this, Dependence has ended up being the very first Indian business to hit $100 billion profits.
The company’s results got a boost from its mainstay energy company and a jump in average revenue per user at its telecom unit. Reliance’s retail service, which took a hit due to pandemic-related lockdowns, gained from a rebound in consumer demand.
“The steady opening up of economies paired with continual high usage rates throughout websites and the enhancement in transport fuel margins and volumes have boosted our O2C revenues,” chairman and handling director Mukesh Ambani stated.
However, in terms of quarter-on-quarter numbers, RIL’s revenue declined 12.6 per cent– breaking a six-quarter chain of quarter-on-quarter enhancement.
The corporation’s energy company reported strong refining margins on the back of higher gas and petroleum rates. Brent crude prices surged almost 39 per cent in the March quarter.
Besides, increase in broadband subscribers, online retail gaining traction and new energy investment choosing roots nearly increased profits.
The company reported the highest-ever quarterly EBITDA (earnings prior to interest, taxes, devaluation and amortisation) of Rs 33,968 crore, up 28 percent year-on-year.
(With inputs from agencies)

FOLLOW United States ON SOCIAL MEDIA

FacebookTwitterInstagram

Released at Fri, 06 May 2022 14:31:17 +0000

RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisment -

Most Popular

Recent Comments

chiffon dress design in pakistan on Realme 6 Pro Review | NDTV Gadgets 360
You searched for on Realme X50 Pro 5G Review
Telefoane Mobile Ieftine si Accesorii on Oppo Enco Free True Wireless Earphones Review