Reliance Industries recently announced a revenue of Rs7.92 lakh crore for financial year ending March 2022, becoming the first ever Indian company to clock $100 billion in annual revenue.
The company recorded a revenue of Rs2.11 lakh crore in the January-March 2022 period, marking a significant increase of 36% as compared to the same period last year. The company said its net profit stood at Rs16,203 crore, up 22.4% year-on-year during the fourth quarter.
The oil to chemical business was the main contributor as it with a revenue of Rs1.45 lakh crore, marking a year-on-year surge of 44.2% from Rs1.01 lakh crore. Oil to gas business came in at Rs2,008 crore, a rise from Rs848 crore in the period. Chairman and Managing Director, Mukesh Ambani said, “Oil and Gas business is now contributing 20% of domestic gas production.” As such, domestic oil demand for the last quarter of FY 2022 was up by 3.1% on-year. Jet fuel and gasoline demand, especially, increased by 6.5% and 1.4% respectively.
As for new energy and green enrgy fields, Mukesh Ambani said, “I am particularly happy with the progress our company is making in the new energy and new materials business. 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 ero by 2035.”
Reliance Retail business marked the revenue of Rs58,017 crore, a rise of more than 23% from the previous year. “Reliance Retail delivered its best-ever quarterly revenues even surpassing the festive quarter performance despite the challenges posed by the spread of Omicron wave and coming out from the festive quarter,” the company statement said.
Reliance Retail also expanded its physical store network, adding 793 new stores and 3.1 million square feet of warehousing and fulfillment space during the quarter. Now the business has reached its benchmark of 15,000 stores, of which 2,566 were added in the last year.