Mumbai-headquartered Reliance Industries Limited reported lower consolidated revenue from Rs 6,12,437 crore in FY 2020 to Rs 4,86,326 crore in FY 2021. In Q4 FY 2021, the consolidated revenue from operations was at Rs 1,54,896 crore.
However, RIL’s net profit was up by 34.8 per cent at Rs 53,739 crore in FY 2021. In Q4 FY 2021, the net profit was more than double compared to Q4 FY 2020. It stood at Rs 14,995 crore in Q4 FY 2021 from Rs 6,546 in Q4 FY 2020.
The total income for FY 2021 was at Rs 5,02,653 crore, down from FY 2020's total income which stood at Rs 6,25,601 crore. Meanwhile, the expenses of RIL was down at Rs 4,53,350 crore in FY 2021, from Rs 5,67,658 in FY 2020. The company stated, "The decrease in revenue was primarily due to lower volumes and realisation across key products in O2C segment. The Retail segment also reported lower revenue on account of the effect of the pandemic. This was partially offset by higher revenue from Digital Services segment on account of continued subscriber traction and higher ARPU."
The company’s earnings before interest and taxes for the full year FY 2021 was Rs 62,460 crore. In FY 2021, the company’s profit before tax was at Rs 55,461 crore.
Exports (including deemed exports) from RIL’s India operations decreased by 28.2 per cent to Rs 145,143 crore ($ 19.9 billion) as against Rs 202,205 crore in the previous year was primarily due to lower price realisations partially offset by increased export of higher value downstream products.
Commenting on the results, Mukesh D Ambani, Chairman and Managing Director, Reliance Industries Limited said, "We have registered robust recovery in O2C and retail segment, and resilient growth in Digital Services business. Sustained high utilization rates across sites and improvement in downstream product deltas, as well as transportation fuel margins, aided O2C earnings growth. Our consumer businesses have proved to be a digital and physical lifeline for the nation in these challenging times. Jio’s high-speed connectivity services enabled millions of Indians work from home, study from home and even receive healthcare from home.”
