Reliance’s digital services business crosses Rs 1 lakh crore for the first time
- ByStartupStory | May 7, 2022
Mukesh Ambani’s oil-to-chemicals-to-telecom conglomerate Reliance Industries Limited (RIL) has reported its earnings for the quarter which ended in March. Reportedly, Reliance became the first Indian company that has earned a gross revenue income which has surpassed $100 billion.
The company had a strong performance in the sectors of energy telecom and retail verticals which led to an increase of 22.5 percent in the quarter ended March. However, the company had declined 12.6 in the March quarter from the previous December quarter.
RIL’s revenue from operations stands at Rs 2,11,887 crore. The company’s EBITDA stood at a record Rs 1,25,687 which is higher by 28.8 percent. RIL did note that the continuance of the coronavirus pandemic is causing a significant slowdown as well as disturbance of economic activity. However, COVID-19 has had no significant impact on the operations of the company.
Reliance Jio made a revenue increase of 24 percent in standalone profit and furthermore the company’s average revenue per user or ARPU stood at Rs 167.6 per subscriber per month. The revenue under Reliance Retail rose 23.3 percent and the company’s digital services segment rose 20.2 % in revenue. Mukesh Ambani was pleased to report strong growth in its Digital Services and Retail segments.
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