Mukesh Ambani-owned oil to telecom conglomerate Reliance
Industries Limited (RIL) reported a 22.5% growth in consolidated net profit at
Rs 16,203 crore for the quarter ended March 31, 2022, following strong
performance across its energy, telecom and retail segments. The company had
posted a net profit of Rs 13,227 crore in the March 2021 quarter.

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On a sequential basis, the company’s profit declined
12.6% in March 2022 quarter from Rs 18,549 crore in the December 2021 quarter.

RIL’s revenue from operations has come in at Rs 2,11,887
crore, up 36% from Rs 1,54,896 crore in the March quarter of the previous
financial year. It has become the first Indian company to cross $100 billion in
sales revenues.

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The company board has recommended a dividend of Rs 8 per
equity share of Rs 10 each for the financial year ended March 31, 2022.

RIL’s EBITDA stood at record Rs 1,25,687 crore ($16.6
billion), up by 28.8% YoY. EBITDA stands for earnings before interest, taxes, depreciation,
and amortization.

Reliance Industries said that the continuance of the
coronavirus (COVID-19) pandemic globally and in India is causing significant
disturbance and slowdown of economic activity. The company’s operations and
revenue were impacted due to COVID-19. However, it added that during the year
ended March 31, 2022, there is no significant impact of COVID-19 on the
operations.

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Reliance Jio posted a 24% growth in standalone net profit
at Rs 4,173 crore for the March 2022 quarter compared with a net profit of Rs
3,360 crore in the March quarter of fiscal 2020-21.

The company’s average revenue per user (ARPU) during the
reported quarter came in at TS 167.6 per subscriber per month, up 21.3% growth
on a YoY basis and 10.5% on a QoQ basis.

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RIL’s retail unit Reliance Retail posted a 23.2% growth
in quarterly revenue and its digital services segment reported a 20.2% rise in
quarterly revenue.

Reliance Industries added over 2.1 lakh employees across
businesses with its consumer and technology business creating a large part of
these new jobs.

Commenting on the results, Mukesh D. Ambani, Chairman and
Managing Director, Reliance Industries Limited said: “Despite the ongoing
challenges of the pandemic and heightened geopolitical 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”.

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“Our relentless focus on customer satisfaction and
service has led to higher engagement and increased footfalls, driving robust
revenue and earnings figures across our consumer businesses. The gradual
opening up of economies coupled with sustained high utilization rates across
sites and the improvement in transportation fuel margins and volumes have
bolstered our O2C earnings,” he added.

Shares of Reliance Industries on May 6 closed 0.74% lower
at Rs 2,621.15 apiece on BSE.