Categories: Business

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

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.

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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.

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Sumit Arora

As a team lead and current affairs writer at Adda247, I am responsible for researching and producing engaging, informative content designed to assist candidates in preparing for national and state-level competitive government exams. I specialize in crafting insightful articles that keep aspirants updated on the latest trends and developments in current affairs. With a strong emphasis on educational excellence, my goal is to equip readers with the knowledge and confidence needed to excel in their exams. Through well-researched and thoughtfully written content, I strive to guide and support candidates on their journey to success.

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