Current Affairs   »   Business Current Affairs & News 2022   »   Reliance became 1st Indian company to...

Reliance became 1st Indian company to cross USD 100 bn annual revenue

Reliance became 1st Indian company to cross USD 100 bn annual revenue_50.1

Reliance Industries become the first Indian company to record annual revenue of more than a whopping $100 billion. The company has recorded a 22.5% rise in net profit for the quarter ended March 2022. Reliance has recorded strong growth in retail, digital services, and the oil & gas business. The company has also reported the highest-ever quarterly EBITDA (earnings before interest, taxes, depreciation and amortisation) of Rs 33,968 crores (28% up) year-on-year.

Buy Prime Test Series for all Banking, SSC, Insurance & other exams

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 per cent year-on-year to Rs 2.32 lakh crore in the fourth quarter of FY22. 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 (USD 102 billion). It is the first Indian company to have crossed USD 100 billion in revenue in a year.

Important takeaways for all competitive exams: 

  • Reliance Industries Ltd CEO: Mukesh Ambani (31 Jul 2002–);
  • Reliance Industries Ltd Founder: Dhirubhai Ambani;
  • Reliance Industries Ltd Founded: 8 May 1973, Maharashtra;
  • Reliance Industries Ltd Headquarters: Mumbai.

Find More Business News Here

Reliance became 1st Indian company to cross USD 100 bn annual revenue_60.1Reliance became 1st Indian company to cross USD 100 bn annual revenue_70.1

Thank You, Your details have been submitted we will get back to you.
Was this page helpful?

Leave a comment

Your email address will not be published. Required fields are marked *