Business EconomyPosted at: Apr 22 2024 7:58PM


RIL surpasses Rs 10 lakh cr annual revenue; Q4 net remains flat

Mumbai, Apr 22 (UNI) Continued growth momentum in the consumer business and upstream business Mukesh Ambani owned Reliance Industries Limited (RIL) on Monday posted record annual consolidated revenues at Rs 1,000,122 crore, up 2.6 per cent YoY.
RIL’s consolidated net profit increased by 7.3 per cent Y-o-Y to Rs 79,020 crore, the company said in a regulatory filing with the stock exchanges.
Reliance Industries announced a dividend of Rs 10 per share for the year ended March 2024.
RIL’s Gross Revenue (Consolidated) for the March 2024 quarter was Rs 264,834 crore, up 10.8 Y-o-Y basis, while the Quarterly profit after tax remained flat or inched up marginally Y-o-Y to Rs 21,243 crore.
Commenting on the results, Mukesh D. Ambani, Chairman and Managing Director, RIL said “Initiatives across RIL’s businesses have made a remarkable contribution towards fostering growth of various sectors of the Indian economy. It is heartening to note that alongside strengthening the national economy, all segments have posted a robust financial and operating performance.”
This has helped the Company achieve multiple milestones. “I am happy to share that this year, Reliance became the first Indian company to cross the Rs 100,000-crore threshold in pre-tax profits,” Ambani said.
Performance of the digital services segment has been boosted by accelerated expansion of subscriber base, supported by both mobility and fixed wireless services. With over 108 million True 5G customers, Jio truly leads the 5G transformation in India. From upgrading the hitherto 2G users to smartphones, to leading the effort of producing AI-driven solutions, Jio has proved its capability in strengthening the nation’s digital infrastructure, the company said.
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