Reliance Industries Limited (RIL) has reported a 20.2% increase in its net profit for the quarter ended 31 March 2022 (4Q FY22) to INR 18,021 crores ($2.4 billion), compared to INR 14,995 crores ($1.95 billion) in net profit for the same period in the previous fiscal year.

In the previous quarter, that is 3Q FY22, the Indian conglomerate led by Mukesh Ambani had a net profit of INR 20,539 crores.

The earnings per share (EPS) of Reliance Industries Limited for the reported quarter was INR 24 per share, which is a year-over-year (YoY) increase of 16.7%.

Revenue of the Indian conglomerate in 4Q FY22 was INR 232,539 crores ($30.7 billion), an increase of 35.1%, compared to revenue of INR 172,095 crores ($22.4 billion) in 4Q FY21. In 3Q FY22, Reliance Industries Limited reported revenue of INR 209,823 crores.

Jio Platforms contributed revenue of INR 26,139 crores ($3.4 billion) in 4Q FY22, which is a 20.7% increase YoY. The digital technology arm of Reliance Industries posted a net profit of INR 4,313 crores ($569 million), a YoY growth of 22.9%.

Reliance Retail reported revenue of INR 58,017 crores ($7.7 billion), a 23.3% increase YoY.

The retail unit of Reliance Industries had a net profit of INR 2,139 crores ($282 million), which is a decrease of 4.8% YoY.

Reliance Retail had a total of 15,196 physical stores operational by end of 31 March 2022 and had opened 793 stores during the reported quarter.

Reliance Industries’ oil to chemicals (O2C) business reported revenue of INR 145,786 crores ($19.2 billion), a 44.2% growth YoY. The refinery throughput for the reported quarter was at 19.3 MMT, compared to 18.7 MMT in 4Q FY21.

For the year ended 31 March 2022, Reliance Industries Limited had posted a net profit of INR 67,845 crores ($9 billion), which is an increase of 26.2% compared to the previous fiscal year.

The FY22 revenue of Reliance Industries Limited was INR 792,756 crores ($104.6 billion), which is higher by 47%, compared to FY21.

Mukesh D. Ambani — Chairman and Managing Director of Reliance Industries, commenting on Reliance Industries 4Q FY22 results, said: “Despite the ongoing challenges of the pandemic and heightened geo-political 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.

“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.”

Recently, Reliance Industries Limited, through Reliance Projects & Property Management Services, has agreed to invest INR 1,645 crores ($216 million) in Viacom18.

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