Reliance Industries, India's conglomerate powerhouse, has released its consolidated financial results for the fiscal year 2022-2023, showcasing robust growth across multiple fronts
Mukesh Ambani, File photo/AFP
Reliance Industries, India's conglomerate powerhouse, has released its consolidated financial results for the fiscal year 2022-2023, showcasing robust growth across multiple fronts.
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The company reported a staggering consolidated revenue of ₹9,74,864 crore, cementing its position as a major player in India's corporate landscape. Reliance's EBITDA for FY23 reached ₹1,53,920 crore, underscoring its sustained profitability, while the net profit stood at ₹73,670 crore.
One of the notable highlights of Reliance's performance was its remarkable export growth, surging by 33.4 per cent to reach ₹3.4 lakh crore for the year. This translated to an increased share of India's merchandise exports, accounting for over 9.3 per cent, up from 8.4 per cent in the previous year.
Moreover, Reliance's contribution to the national exchequer was a substantial ₹1,77,173 crore, including a significant rise in both direct and Indirect taxes, amounting to over ₹16,639 crore. The company's commitment to its social responsibility initiatives was evident with the highest-ever Corporate Social Responsibility spending of ₹1,271 crore.
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A key indicator of Reliance's impact on the economy was its remarkable role in employment generation. The company created an impressive 2.6 lakh jobs across its diverse businesses during the fiscal year, bolstering its on-roll employee count to nearly 3.9 lakh. The company's ripple effect was even more pronounced, as it played a pivotal role in generating numerous indirect livelihood opportunities.
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