look news india
New Delhi: The country's largest company Reliance Industries Limited-RIL released the March quarter results on Monday.
In this result, the company said that their total income at the end of the financial year was Rs 10 lakh crore. This represents a year-on-year increase of 2.6 percent.
The company has benefited from continued growth in its consumer business and upstream business. Jio Platform's revenue has increased by 11.7 percent year-on-year. The reason for this growth is the increase in customer base and the strength of ARPU (average revenue per unit).
Jio Platforms revenue grew 11.7 percent year-on-year, benefiting from strong subscriber growth to 42.4 million households on mobility and mixed improvement in ARPU.
The growth rate of Reliance Retail has increased by 17.8 percent year-on-year. The company's O2C revenue fell 5 per cent due to lower product cost recovery following a 13.5 per cent year-on-year decline in average Brent crude oil prices.
This was partially offset by higher volumes, RIL said in a statement. Revenue from the oil and gas segment grew by 48 per cent despite lower gas price realization from the KG D6 block.
Commenting on the quarterly results, Mukesh D. Ambani, Chairman and Managing Director of Reliance Industries Limited, said
RIL's business initiatives have contributed significantly to the development of various sectors of the Indian economy. It is gratifying that all sectors have recorded strong financial and operational performance, thereby strengthening the national economy.
He said that this has helped the company achieve many achievements. I am happy to share that this year Reliance has become the first Indian company to cross Rs 100,000 crore profit after tax.
EBITDA grew 14.3 percent year-on-year to Rs 47,150 crore ($5.7 billion) driven by strong contribution from all businesses. Let us tell you that along with the quarterly results, the company had announced a dividend of Rs 10 per share.
