Reliance becomes first Indian firm to surpass Rs 10 lakh crore in revenue: Mukesh Ambani

Mukesh Ambani, chairman and managing director, Reliance Industries on Thursday said that Reliance Industries has emerged as the first Indian firm to break past the annual revenue of Rs 10 lakh crore mark. Ambani announced that Reliance Industries clocked annual revenue of Rs 10,00,122 crore.

The company's EBITDA also known as operating profit, stood at Rs 1,78,677 crore while net profit jumped to Rs 79,020 crore. Besides, exports by Reliance stood at Rs 2,99,832 crore, accounting for 8.2 per cent of India's total merchandise exports.

Reliance invested over Rs 5.28 lakh crore continuously for the last three years. It also remained the largest contributor to the India's national exchequer, accounting for Rs 1,86,440 crore to the national exchequer in FY24 through various taxes and duties. In the last three years, the total contribution by Reliance to the exchequer has topped over more than Rs 5.5 lakh crore, the highest by any Indian corporate.

Ambani also showcased the diversified conglomerate's commitment to social responsibility, increasing spending on Corporate Social Responsibility 25 per cent to Rs 1,592 crore. During the last three years alone, the company's total CSR outlay has topped ₹4,000 crore ($502 million), the largest among Indian corporates.

On the employment front, Ambani said: "Reliance continues to be rated as India's best employer by many external agencies.". It added more than 1.7 lakh new jobs last year, taking the total number of employees to almost 6.5 lakh across all its traditional and newer incentive-based engagement models. While direct employment numbers have seen a slight decrease owing to shifting employment trends globally, the overall job creation by Reliance has risen, reflecting its emphasis on innovative and flexible employment models that put the power of choice in the hands of employees.

Reliance floated its Financial Services business as a separately listed entity last year. The new entity, Jio Financial Services, now boasts of a market capitalisation of nearly Rs 2.2 lakh crore. "As I see it, with its strong DNA of innovation, customer centricity and technology, I have little doubt that JFS will continue to unlock substantial value for all shareholders, while catalysing prosperity and progress for society and the nation," Ambani said.