Consumer businesses raise RIL's consolidated revenue to Rs 5.4 lakh crore in FY21

Reliance Industries Ltd (RIL) Chairman and Managing Director Mukesh Ambani said on Thursday the conglomerate's consolidated revenue totalled Rs 5.4 lakh crore in 2020-21 (FY21) with a sharp increase from consumer businesses.

Reliance Industries Ltd (RIL) Chairman and Managing Director Mukesh Ambani said on Thursday the conglomerate's consolidated revenue totalled Rs 5.4 lakh crore in 2020-21 (FY21) with a sharp increase from consumer businesses. The consolidated EBITDA was nearly Rs 98,000 crore and almost half of it was contributed by consumer businesses. Net profit for the year was Rs 53,739 crore, higher by 34.8 per cent compared to the previous year.

"As India's largest business enterprise, Reliance's contribution to the Indian economy continues to remain unmatched. At Rs 1.45 lakh crore, we continue to be India's largest exporter accounting for 6.8 per cent of India's total merchandise exports across 107 countries," said Ambani while addressing the company's 44th annual general meeting held virtually. Even in a challenging environment, Reliance added nearly 75,000 new jobs in the past year. "We are committed to creating and enabling large-scale employment opportunities which is one of India's most urgent national tasks," he said.

Reliance continues to be India's highest payer of customs and excise duty in the private sector with payments of Rs 21,044 crore. It is among the highest payers of GST and VAT at Rs 85,306 crore. It is also among the highest payers of income tax in private sector, paying Rs 3,213 crore.

In FY 2021, Reliance carried out the largest ever capital raise by any company globally in a year, notwithstanding the Covid challenges. The capital raises exceeded Rs 3.24 lakh crore through equity in Jio Platforms and Retail, rights issue and asset monetisation. The investors included some of the best and marquee names across the world across sovereign wealth funds and private equity.

"This capital raise is a strong vote of confidence by global investors in India's growth potential. It reflects their faith in the ability of company's management to execute ambitious projects and long-term value creation plans," said Ambani. Reliance retail shareholders have made 4x returns in just one year on their rights shares.

"All of these helped Reliance achieve a net debt-free balance sheet much ahead of March 2021, a promise I had made two years ago," said Ambani. (ANI)

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)