Reliance Industries Surpasses ₹10 Lakh Crore in Annual Revenue

Reliance Industries Becomes India’s First Company to Surpass ₹10 Lakh Crore in Annual Revenue

Reliance Industries Limited (RIL), led by chairman Mukesh Ambani, has made history by becoming the first Indian company to achieve an annual revenue exceeding ₹10 lakh crore. The announcement was made during the Annual General Meeting (AGM) held on Thursday.

Ambani highlighted that Reliance achieved a consolidated turnover of ₹10,00,122 crore (USD 119.9 billion) for the financial year 2023-24. This includes an EBITDA of ₹1,78,677 crore (USD 21.4 billion) and a net profit of ₹79,020 crore (USD 9.5 billion). Reliance also contributed to India’s exports with Rs 2,99,832 crore (USD 35.9 billion), accounting for 8.2% of the country’s total merchandise exports.

In the last three years, Reliance has invested over ₹5.28 lakh crore (USD 66.0 billion), reflecting its focus on expanding its operations. It remains the largest contributor to the national exchequer, with Rs 1,86,440 crore (USD 22.4 billion) in taxes and duties during FY 2023-24. The company’s total contribution to the exchequer over the past three years has surpassed ₹5.5 lakh crore (USD 68.7 billion).

Reliance also continues to lead in corporate social responsibility (CSR), spending ₹1,592 crore (USD 191 million) last year, a 25% increase over the previous year. The company’s total CSR spend over the last three years has crossed ₹4,000 crore (USD 502 million). Moreover, Reliance created over 1.7 lakh new jobs last year, bringing its total workforce to nearly 6.5 lakh employees.

Amidst these achievements, Reliance Industries has announced a 1:1 bonus share issue to be considered during its board meeting on September 5, 2024. This move, if approved, would double the holdings of its shareholders.

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