Reliance Industries Limited (RIL) has reported a consolidated revenue of ₹659,205 crores ($87.1 billion) in financial year 2019-20 that ended on March 31, showing an increase of 5.4 per cent as compared to ₹625,212 crores in the previous year. Increase in revenue is primarily on account of higher revenues from the consumer businesses, including retail.
The company has identified ‘Financial services’ as a separate business segment based on internal reorganization of its business segments. RIL is engaged in financial services through its treasury investment activities, payment bank, consumer lending business, insurance broking business among others. Accordingly, the company has reported the performance of these activities as a separate business segment.
Exports (including deemed exports) from India were lower at ₹202,830 crores ($26.8 billion) as against ₹224,391 crores in the previous year. The decline in exports was primarily on account of lower realisation due to fall in crude oil prices, the company said in a press release.
Segment EBITDA increased by 3.2 per cent to ₹92,964 crores ($12.3 billion) from ₹90,084 crores in corresponding period of the previous year. The increase in Segment EBITDA was led by strong performance in consumer businesses which grew by 49.3 per cent year-on-year. Retail business benefitted from new store additions, strong footfalls and high LFL growth.
The outbreak of Coronavirus (COVID-19) pandemic globally and in India has caused significant disturbance and slowdown of economic activity. During this period, there has been significant volatility in oil prices, resulting in uncertainty and sharp reduction in oil prices.
