Billionaire Mukesh Ambani'sReliance Industries Ltd on Friday reported a 24.5 percent rise in earnings for the quarter ended March on the back of bumper oil refining margins, steady growth in telecom and digital services and strong momentum in retail business.
The oil-to-retail-to-telecom conglomerate's consolidated net profit rose to Rs 16,203 crore in the quarter ended March 31, 2022 from Rs 13,227 crore earlier, the firm said a stock exchange filing.
For the full fiscal 2021-22 (April 2021 to March 2022), Reliance reported a net profit of Rs 60,705 crore on a revenue of Rs 7.92 lakh crore ($102 billion).
"Despite the ongoing challenges of the pandemic and heightened geo-political uncertainties, Reliance has delivered a robust performance in FY2021-22," Chairman and Managing Director Mukesh Ambani said in a press statement. "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," Ambani said.
