Reliance's fourth-quarter net income increased by 22.5 percent, making it the first Indian company to reach USD100 billion in revenue.

Reliance Industries Ltd, owned by billionaire Mukesh Ambani, announced a 22.5 percent increase in net profit for the quarter ended March, on the back of higher oil refining margins, consistent growth in telecom and digital services, and good momentum in the retail sector.

The oil-to-retail-to-telecom conglomerate's consolidated net profit increased to Rs 16,203 crore from Rs 13,227 crore in the quarter ended March 31, 2022, the company said in a statement. Net profit, on the other hand, decreased 12.6 percent sequentially, snapping a six-quarter streak of growth. Reliance's earnings increased as a result of an increase in broadband subscribers, the growth of online retail, and the establishment of new energy investment. In the fourth quarter of FY22, the country's largest corporation by market value increased its consolidated sales by 35% year-on-year to Rs 2.32 lakh crore. Reliance recorded a net profit of Rs 60,705 crore on revenue of Rs 7.92 lakh crore for the fiscal year 2021-22 (April 2021 to March 2022). (USD 102 billion).

It is the first Indian firm to reach a revenue of USD100 billion in a single year. The company announced its highest-ever quarterly EBITDA of Rs 33,968 crore, up 28% year on year. EBITDA for the O2C (oil-to-chemical) division increased by 25% to Rs 14,241 crore, while pre-tax earnings for digital services increased by 25% to Rs 11,209 crore. Retail EBITDA increased by 2.5 percent to Rs 3,712 crore, while gas production from satellite locations in the KG-D6 block more than tripled oil and gas EBITDA to Rs 1,556 crore. Consumer products now account for nearly half of the segment's EBITDA.

The crisis between Russia and Ukraine exacerbated an already tight demand-supply scenario for crude oil and petroleum products, resulting in greater cracks or margins on petrol and diesel. Despite a decrease in subscriber numbers over the last two quarters due to the culling of inactive subscribers/SIM consolidation, better per-user revenue (ARPU) and debt refinancing boosted Jio's net profit by nearly 24 percent to Rs 4,173 crore in January-March. Reliance Jio's consolidated net profit climbed by roughly 23% to Rs 14,854 crore for the fiscal year ending March 31, 2022.

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