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  • DAILY CURRENT AFFAIRS:RIL becomes first Indian company to cross $100 billion revenue

RIL becomes first Indian company to cross $100 billion revenue

Tags: Economy/Finance

India’s largest private company Reliance Industries Limited (RIL) has become the first Indian company to cross the $100 billion revenue mark after the fourth quarter 2022 result was declared on 6 May 2022.

  •  In the financial year 2021-22, RIL annual revenue was Rs 792,756 crore ($104.6 billion), an increase of 47 % as compared to 2020-21.
  •  The company's annual Profit after Tax was at ₹67,845 crore ($9 billion) an increase of 26.2% as compared to 2020-21.
  • Reliance recorded strong growth in retail, digital services, and oil & gas business.

Highlights of its annual result

Retail business 

RIL has set up Reliance Retail Company for its retail business.

 In the financial year 2021-22, Reliance Retail annual revenue was Rs.199, 704 crore ($ 26.3 billion), an increase of 26.7% over as compared to 2020-21.

Telecom business

The telecom business of the RIL is done through Reliance Jio Company  

The gross revenue for the year was ₹95,804 crore ($ 12.6 billion), higher by 17.1% as compared to last financial year.

Oil to Chemicals (O2C) business:

RIL has set up the world's largest standalone oil refinery at Jamnagar, Gujarat.

The revenue for its oil to chemical business was Rs 500,900 crore ($ 66.1 billion), an increase of 56.5% as compared to 2020-21.

This was due to the increase in the crude oil prices and higher price realization of downstream petroleum products. 

Oil & Gas business

RIL operates gas fields at Krishna Godavari basin in Andhra Pradesh.

It earned Rs ₹7,492 crore due to higher production from KG (Krishna -Godavari) D6 (Dhirubhai well no 6) gas well. 

Reliance Industries Limited (RIL) 

Reliance Industries Limited was founded by Dhirubhai Ambani in 1973 

It is the largest private sector company in India 

Headquarters: Mumbai 

Chairman: Mukesh Ambani.

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