Reliance Industries crosses $100 Billion in annual revenue, becomes India’s first company to achieve the feat

Billionaire Mukesh Ambani’s Reliance Industries Limited has succeeded in becoming the first Indian company to cross a gross revenue of over $100 billion or about Rs 792,756 crores in a year. 

Mukesh Ambani-led company reportedly saw a 22.5 percent rise in net profit for the quarter ended March and its annual profit after tax inched to around the $10-billion mark. 

Reliance Retail displayed a growth with a revenue of Rs 58,019 crore, while Jio marked a revenue of Rs 20,901 crore, 20.5 percent higher than the previous year. 

Reliance Industries also logged EBITDA (earnings before interest, taxes, depreciation, and amortization) of Rs 33,493 crore in the January-March quarter.

Commenting on the thumping achievement, Mukesh Ambani, Chairman, and Managing Director, Reliance Industries 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."

He further said, "Over the past year, we added over 2.1 lakh new employees across our businesses with our consumer & technology biz creating a large part of these new jobs. I am pleased to report that our Retail biz has crossed 15,000 store benchmark."