RIL Q4 consolidated PAT surges 22.5% YoY; FY22 gross sales top $100 billion

Reliance Industries Limited (RIL) on May 6 reported a 22.5 percent year-on-year growth in its consolidated net profit to Rs 16,203 crore for the quarter ended March, which was below analysts' expectations of Rs 17,167 crore. The oil-to-telecom conglomerate's consolidated revenue from operations surged 36.8 percent year-on-year to Rs 2.1 lakh crore for the reported quarter, which met Street's estimate of Rs 2.1 lakh crore.

The company's board also recommended a dividend of Rs 8 per share for the financial year ended March 31, 2022.

For FY22, RIL reported a record-high gross revenues of Rs 7.92 lakh crore or $104.6 billion, making it the first Indian company to achieve the $100-billion revenue mark. RIL also reported record annual consolidated net profit of Rs 67,845 crore for the financial year.

"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.