RIL is the 1st Indian company to cross $100 billion in revenue

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MUMBAI: Reliance Industries’ revenue surpassed $100 billion in fiscal year 2022, becoming the first Indian company to achieve the milestone. The Tata Group, a collection of more than 30 companies across 10 verticals, achieved revenue of $103 billion in fiscal year 2021. The group’s fiscal year 2022 figures have not been reported. yet been declared.
On Friday, Reliance said its FY22 revenue rose 47% to Rs 7.9 lakh crore ($105 billion), helped by strong growth in its petroleum-chemicals (O2C) and consumption (Jio and retail). Profit rose 26% to Rs 67,845 crore ($9 billion), retaining the top spot as India’s most profitable private company. Operating profit, an underlying business performance yardstick, rose 34% to Rs 1.2 lakh crore.
“Despite the continued challenges of the pandemic and heightened geopolitical uncertainties, Reliance delivered a strong performance in the 2021-22 financial year,” said Chairman and CEO Mukesh Ambani.
Although Reliance has launched new businesses over the years in retail, telecommunications and recently green energy, its O2C unit continues to account for the bulk of its revenue. “Gradually opening up economies…sustained high utilization rates across all sites and improving transportation fuel margins and volumes have supported our O2C earnings,” Ambani added.
For the January to March quarter of FY2022, Reliance’s profit increased by 20% to Rs 18,021 crore on the back of higher margins from its O2C and Jio units. Revenue stood at Rs 2.1 lakh crore, up 37%. Operating profit edged up 30% to Rs 33,493 crore in Q4FY22, helped by better price realizations.
O2C’s operating profit rose 25% to Rs 14,241 crore, driven by high cracks in transport fuel, partially offset by lower margins on polymers and intermediates and higher energy cost. Downstream product margins were impacted by weak naphtha cracker economics and excess supply of intermediate fibers, the company said in a statement.
Digital (Jio) operating profit also jumped 25% to Rs 11,209 crore due to strong revenue growth and improved margins. Jio’s average revenue per user (ARPU) – a key metric that influences revenue – was Rs168 in Q4FY22, up 21%.
ARPU is the telecom operator’s total revenue divided by the number of users on its network. Launched in 2016, Jio has 410 million customers as of March 31 this year and has seen data and voice traffic growth of 48% and 17% on its network.
Retail operating profit edged up 2% to Rs 3,712 crore. The Retail segment does not include RIL’s petroleum products retail business. This company is housed in a joint venture with the British BP. Financial services operating profit increased by 102% to Rs 172 crore, while that of oil and gas increased by 218% to Rs 1,556 crore. RIL’s gross debt at the end of Q4FY22 was Rs 2.66 lakh crore. And, he had about Rs 2.31 lakh crore in cash and cash equivalents.
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