Mukesh Ambani-led Reliance Industries has ended the financial year 2021-22 on a strong note, with stellar growth in top and bottom line, driven by digital services and retail segments. The board of the company also recommended a dividend of ₹8 per equity share of ₹10 each for the financial year ended March 31, 2022.

The country’s most valued firm reported 20.2% year-on-year (YoY) growth in consolidated net profit at ₹18,021 crore for the fourth quarter ended March 31, 2022, as against ₹14,995 crore in the same period last year. On the sequential basis, the profit dropped 12.25% as compared to ₹20,539 crore in the December quarter of 2022.

The Mumbai-headquartered company has posted consolidated gross revenue of ₹232,539 crore, up 35.1% from ₹172,095 crore in Q4 FY22. The oil-to-telecom conglomerate had registered gross revenue of ₹209,823 crore in Q3 FY22.

During the quarter under review, RIL's profit before tax (PBT) increased by 36.8% to ₹22,411 crore as against ₹16,382 crore in quarter ended March 2022.

The company's operating profit (EBITDA) jumped 27.7% to ₹33,968 crore as compared to the corresponding period of the previous year, helped by strong operating performance in retail and digital services business.

For the full financial year 2021-22, the net profit rose 26.2% YoY to ₹67,845 crore, while gross revenue for the year stood at ₹792,756 crore, up by 47% on yearly basis. EBITDA for the year grew 28.8% YoY to ₹125,687 crore for the fiscal ended March 31, 2022.

Commenting on the results, Mukesh Ambani, Chairman and Managing Director, Reliance Industries says, “Despite the ongoing challenges of the pandemic and heightened geo-political uncertainties, Reliance has delivered a robust performance in FY2021-22. I am pleased to report strong growth in our Digital Services and Retail segments. Our O2C business has proven its resilience and has demonstrated strong recovery despite volatility in the energy markets."

“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 Zero by 2035,” Ambani says.

Meanwhile, RIL’s telecom arm, Reliance Jio registered double-digit growth in profit for the quarter ending March 31. The telco's Q4 profit rose by 24% to ₹4,173 crore as against ₹3,360 in March quarter of 2021. The revenue from operations rose to ₹20,901 crore, as opposed to ₹17,358 crore seen in the year-ago period.

Ahead of Q4 results, shares of Reliance Industries closed 0.74% lower at ₹2,621.15 apiece on the Bombay Stock Exchange.

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