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Reliance 1st Indian company to cross $100 bn revenue; declares dividend, Q4FY22 net profit jumps 22% on-year

Mukesh Ambani’s Reliance Industries Ltd announced a dividend of Rs 8 per fully paid up equity share of Rs 10 each for the financial year ended March 31, 2022.

Reliance Industries Q4, Reliance Industries FY22 results
Despite the ongoing challenges of the pandemic and heightened geo-political uncertainties, Reliance has delivered a robust performance in FY2021-22, Mukesh Ambani said. Image: Reuters

Mukesh Ambani’s Reliance Industries Ltd announced a dividend of Rs 8 per fully paid up equity share of Rs 10 each for the financial year ended March 31, 2022. This payment of dividend is subject to approval of members of the company at the ensuing Annual General Meeting of the company, RIL said in a BSE filing. The company’s FY22 gross revenue crossed $100 billion-mark becoming the first Indian company to achieve this feat. The company posted gross revenue of Rs 792,756 crore ($104.6 billion), as compared to Rs 539,238 crore in the previous year. Oil-to-telecom conglomerate has reported a 22.4 per cent on-year jump in net profit to Rs 16,203 crore in the January-March quarter of the financial year 2022, compared with Rs 13,227 crore in the same quarter last year.

The revenue from operations rose 36 per cent to Rs 2.11 lakh crore, as compared with Rs 154,896 crore in the corresponding quarter last year. Oil to chemical business revenue stood at Rs 1.45 lakh crore while retail revenue was at Rs 58,019 crore.

RIL reported a consolidated EBITDA of Rs 33,493 crore in the January-March quarter. In the financial year ending March 31, 2022, RIL revenue stood at Rs 7.36 lakh crore. RIL noted that the continuance of coronavirus (COVID-19) pandemic globally and in India has been causing significant disturbance and slowdown of economic activity. The company’s operations and revenue were impacted due to COVID-19. “During the year ended March 31, 2022, there is no significant impact of COVID-19 on the operations of the Group,” RIL said.

The net margin of the company for the quarter came in at 7.7 per cent, compared with 9.8 per cent in the October-December quarter and 8.7 per cent in the year-ago quarter. “Despite the ongoing challenges of the pandemic and heightened geo-political uncertainties, Reliance has delivered a robust performance in FY2021-22,” said chairman and managing director Mukesh Ambani, Ambani also added that O2C business has proven its resilience and has demonstrated strong recovery despite volatility in the energy markets.

“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,” Ambani said.

Reliance Jio Infocomm, the telecom subsidiary of Reliance Industries, posted a 15.4 per cent sequential increase in net profit at Rs 4,173 crore for the quarter ended March.

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