In the financial year 2023-24, the company recorded its highest-ever net profit of Rs 69,621 crore.
Reliance Industries has reported a net profit of Rs 18,951 crore for the quarter ended March.
Although the company’s quarterly profit did not increase compared to last year, the company’s net profit for the previous financial year reached a record level of Rs 69,621 crore, the results announced on Monday evening explained.
Reliance had posted a net profit of Rs 19,299 crore in the quarter ended March last year.
The company’s profit has slightly declined compared to last year.
However, compared to the net profit of Rs 17,265 crore in the previous quarter from October to December 2023, there has been an increase this year.
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In the financial year 2023-24, the company has achieved its highest-ever net profit of Rs 69,621 crore.
In the previous financial year, the company had made a profit of Rs 66,702 crore, which has now increased.
Reliance has become the first Indian company to reach a turnover of Rs 10 lakh crore in a financial year.
The company’s revenue was Rs 9.74 lakh crore in FY 2022-23, registering a growth of 2.6 percent in the quarter.
The company’s annual pre-tax profit has also crossed the Rs 1 lakh crore mark ie Rs 1,04,727 crore for the first time.
Its conventional oil-to-chemicals (O2C) business has largely been a cash cow for Reliance Industries.
Like every year, the profit of this business has seen an increase this year as well, while the income of the grocery business (Reliance Retail) has also increased with the opening of new stores.
Jio Platforms’ results showed that the billionaire Mukesh Ambani-led company outperformed competitors in the telecom business by adding new customers and increasing data usage.
Jio Platforms has contributed over Rs 20,000 crore in annual net profit, while Reliance Retail has contributed over Rs 10,000 crore.
Meanwhile, the company has declared a dividend of Rs 10 per share.