Reliance becomes first Indian company with gross revenue surpassing $100 billion

Mukesh Ambani-led Reliance Industries has declared the earnings for the quarter ended March. Market analysts expected that the conglomerate, which is led by its refining, telecom and retail businesses, may report a 38 percent year-on-year rise in consolidated net profit at Rs 17,167 crore for the quarter ended March.

However, Reliance Retail Q4 revenue rose to Rs 58,019 crore vs Rs 57,717 crore in the previous quarter. It EBITDA came in at Rs 3,712 crore against Rs 3,835 crore, reported in the December quarter. The EBITDA margin stood at 6.4% Vs 6.6% (QoQ).

Meanwhile, Reliance Industries subsidiary Reliance Jio Infocomm on May 6 reported a 15.4 percent quarter-on-quarter increase in net profit at Rs 4,173 crore for the quarter ended March.

RIL reported a consolidated profit after tax (PAT) of Rs 18,549 crore for the quarter ended December 2021, up 42 percent from Rs 13,101 crore registered in the corresponding quarter of the last financial year.