Reliance Industries contributed over ₹10 Lakh Crore to national exchequer

8 Aug 2024 , 10:59 AM

Reliance Industries Ltd (RIL) contributed ₹1.86 Lakh Crore to the national exchequer in FY24, bringing their total contribution to nearly ₹10 Lakh Crore in the last seven years. For the sixth year in a row, the corporation paid over ₹1 Lakh Crore in taxes and levies.

Interestingly, the cumulative investment of ₹10 Lakh Crore since FY18 is similar to the company’s whole revenue for FY24. Reliance Industries’ revenue reached ₹10 Lakh Crore in FY24, while profit increased by 7% to ₹79,020 crore.

Over the last three years, through FY24, the company’s net profit climbed at an annualised rate of 14%. RIL’s annual report shows that the company’s contribution to the nation increased to ₹5.5 Lakh Crore over the past three years.

RIL, the largest corporation in terms of revenues, profitability, and market capitalisation, is also one of the country’s largest corporate taxes. The corporation, which maintains its position as the largest corporate tax payer, is also one of the largest donors to indirect taxes in the private sector.

RIL’s total corporate tax paid in FY24 is roughly 3% of the total corporate tax collected by the government that year. The budget documents show that the exchequer collected ₹9.11 Lakh Crore in corporation tax in FY24.

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