Good evening, everyone. First of all, I want to apologize for a slight delay in our start of the fourth quarter FY 22 financial results presentation. As always, we have some of our leaders actually walk you through the highlights of the performance of each of our businesses. First off, I would like to hand it over to Mr. Srikanth Venkatachari to give you an overview, as well as he will come back again to both talk about O2C and also some of them. Srikanth, over to you.
Thanks, Srini. Good evening, ladies and gentlemen. Let me start off with the FY 2022 highlights. Record annual earnings, EBITDA, consolidated EBITDA at INR 1,26,000 crore. You know, this is up 29% year-on-year. Net profit at close to INR 68,000 crore. Again, this is also up 26% year-on-year. You may also see that the 5-year average CAGR for both EBITDA and net profits are close to 18%. Strong growth there. O2C earnings were pretty strong despite the unprecedented volatility and the dislocation that we saw in the energy markets. Our consumer business gross revenue now at INR 300,000 crore and EBITDA crossing INR 50,000 crore.
All that on the back of, you know, highest ever store sales, lot of momentum on the digital commerce side, subscriber addition and an uplift in ARPU. Oil and gas also did well, seven-year high in EBITDA and KG-D6's production in excess of 18 MMSCMD. Our focus on proactive liability management continues, in terms of optimization of finance costs. When you look at each of the businesses for FY 2022, starting with retail, EBITDA of INR 12,423 crores. Again, revenue is up 27%, EBITDA up 26%. We crossed the 15,000-store benchmark. We have been adding about seven stores a day.
Our registered user base is now 193 million customers, which is again, that is also up 24%. As you have noted, you know, we continue to invest in strengthening our brands portfolio offerings and capabilities. On the digital side, revenues of INR 100,000 crore and EBITDA of INR 40,000 crore-INR 68,000 crore. Revenue is up 11% year-on-year, EBITDA up 18% year-on-year. You know, ARPU at INR 168, which is up 31%. Our EBITDA margin for JP at 48%, which is. We saw a very big expansion, almost 400 basis points more. JioFiber is now the largest broadband provider in India within two years of launch.
Both the data traffic and voice traffic continue to grow, you know, growing by 46% and 18% respectively. On the O2C side, INR 5 lakh crores of revenues and INR 52,700 crores of EBITDA. This is revenue up 56%, EBITDA up 38%. This year in FY 2022, we saw high utilization across sites with volumes up 7.2%. Really on the back of you know, strong fuel margins and that we have seen because of higher demand, gas oil switching, refinery closures. For us, feedstock flexibility, which is one of our inherent strengths, you know, has meant that we were able to maximize our light sweet cracking economics.
Also, we completed the restructuring of the gasification asset, as well as signed the shareholder agreement with TA'ZIZ for EDC and PDC. On oil and gas side, INR 7,500 crores revenue and INR 5,500 crores in EBITDA. This is, you know, EBITDA is up 21x, revenue is up 3.5x. As you know, Satellite Cluster commission was, you know, was commissioned actually ahead of plan. Production now, as I mentioned, 18 MMSCMD, which is approximately 20% of India's gas production. We completed the exit of shale gas in Eagle Ford. When you look at FY22 at a glance, as I mentioned, revenue's up 47% and EBITDA up 28%. All businesses contributed to both revenues and EBITDA.
Also, you would have seen that there has been significant savings and finance costs down 31%. Net profits at INR 60,845 crores, up 26% despite higher depreciation and tax. Standalone basis, RIL, net profit was INR 39,084 crores, which is again up 22%. Just a quick bridge between for FY 2022 versus FY 2021. As I was mentioning, every business has contributed to the increase. The bulk of it, of course, coming from O2C with INR 14,500 crores, which is 52% of incremental EBITDA. As I mentioned, on the back of higher fuel cracks, especially mid distillates and also higher volume.
Oil and gas ramp up in KG-D6 and improving price realization explains the INR 5,200 crore increase. Retail was on the back of expanded footprint and the traction that we have seen in digital commerce. Digital services contributing INR 6,233 crore, and this is on the back of continuing customer momentum, and also the jump in ARPU that we saw, both of them boosted performance. This is a five-year CAGR. I touched upon it in my first slide, but it really highlights the fact that, you know, there's been strong growth after the in FY20, and then you can see the FY21 being lower, but a very strong growth that we have seen in the aggregate revenues.
Effectively 29% EBITDA growth and which is now in excess of INR 125,000 crore. This is the performance for the quarter. INR 2,32,000 crore of revenue and 33,968 crore of EBITDA. This is 35% and 28% up, respectively. Of course, revenues were led by O2C and retail. On the overall side, year-on-year, all segments contributed to the profitability. Net profits also up sharply 27%. When you see from a quarter-on-quarter point of view, revenues were up by 11%, mainly because of O2C there, because of the strong energy prices. EBITDA has been stable despite the operational challenges.
Net profit pre-exceptional was up 2%, lower finance cost partially offset by higher depreciation. Standalone RIL profitability at INR 11,094, which is up 9% quarter-on-quarter. Here, the bridge on our 4Q versus 4Q, 2022 versus 4Q 2021. Again, a big contribution coming from O2C and oil and gas and retail. You're seeing the ramp up in new commerce and stores, but it was partially offset by the Omicron variant that we saw. On digital services, we are seeing a year-on-year improvement of 21% in ARPU, and led by customer engagement and the tariff hike that we saw.
Overall, a strong growth, again, 28% growth year-on-year, with contribution from almost all segments. This is the Q-on-Q bridge, that is the sequential quarter. You can see that O2C INR 711 crore firm despite volatility caused by Ukraine on the back of fuel cracks that we saw. This offsets some of the weakness in the downstream that we saw. Oil and gas is lower slightly because of the lower EBITDA because of the exit of shale gas. Retail, we saw some impact of headwinds caused by COVID in January and also lower investment income. Digital services were strong. We saw a strong gross customer addition there and also higher ARPU on the back of the tariff hike.
This really reflects lower investment portfolio and the defensive repositioning that we did of the portfolio for high rates. In short, a stable EBITDA and with strong performance on the digital side. Coming to the balance sheet side, net debt INR 34,815 versus INR 35,85 on the other side. As you can see, the net debt reflects the change because of refinancing of high-cost spectrum liabilities of INR 30,791 crores with cost-effective market borrowings. That's really the swing and, you know, this good position which will help us advance our existing and new businesses.
Kicking off, as you know, the strongest portfolio within JPL, as we start talking about it, very well established in the connectivity ecosystem, spanning mobility, home and enterprise, of course, with a slew of digital services also coming into play in the recent past. Looking at our historical businesses which have been running along as leaders in the country, it has been a phenomenal year of further strengthening our leadership across all of the connectivity segments. If you look at mobility, we are undisputed number one when it comes to revenue and subscriber market share. In terms of the adjusted revenue market share, we have now in excess of 45%. In terms of our pro...
Mobile subscriber market share now approaching 55%. By any token, a really good set of numbers. We continue to maintain our leadership when it comes to the quality of service of our mobility broadband service. We continue to be number one as we've been for many years now. Number one in the average download speed across the country, as per the TRAI MySpeed data. Also, home is now picking up, although it was a tough couple of years if you look at the COVID situation and all the lockdowns. Through it all, we have emerged as the number one FTTX or fiber to the home service provider. This is just within two years of launch in a very tough environment.
Today, we have in excess of 5 million homes already connected on our FTTX service. As we come out of the pandemic, we would look for the pace of growth in this area to further accelerate. Can go to the next slide? Yeah. I think the real secret, the reason why we continue to be the leader and further strengthen our leadership position, has always been right from the day we launched, the secret to all of this has been our customer-centric approach. When we talk about customer centricity, it is obviously not just a word. There are many dimensions to this that we live every day.
Everything from keeping our offer and our services extremely simple. As you may all know, we entered this space with a very, very simple set of plans and a very simple offer, and we continue to keep our products and services extremely simple for our customers to understand. Of course, India being India, we offer our services with very easy-to-understand user interfaces, which is supporting all of the major languages in India as well. Of course, the transparency of having no hidden charges and terms and conditions, I think we've been a pioneer in this space, and we believe that has really communicated our proposition to all Indians in the simplest possible manner. Of course, the trust factor is always there.
We are known for a very high degree of service availability, reliability and trust when it comes to our core service. We are reachable through multiple touchpoints which are convenient to our customers and always available to help our customers as and when they need any assistance from us. When it comes to our value proposition, again, we have established a very clear proposition for providing the best value for money not just in India, but globally. As far as possible, we try to further add value to our plans by offering a number of additional value-added services even within our basic tariffs. If you look to our investments, all of these are future-ready.
We have a no-legacy network which is continuing to improve, and we are upgrading towards a pan-India 5G rollout. Our network is ready for 5G as we speak, and it has been right from the day we launched. All of our solutions are digital first, which means we are well-positioned as people adopt smartphones and digital solutions. We are innovating every day thanks to the digital capabilities of the group. Through it all, our purpose and our passion, right from day one, has been to bring about what we call digital life for every Indian. All of these put together strengthens our customer-centric approach in everything that we do.
Again, looking at the entire life cycle and really understanding the customer pain points and trying to solve, or help our customers accomplish their mission at every stage of their life cycle with us. Everything from discovering our services, whether physically at home or online through social media, through all of these, really communicating our proposition and making it really easy for customers to discover what we offer. Simplifying the buying experience. Of course, we have one of the largest distribution channels, what we call our digital physical omni-channel approach. We are now firing an associate network which we pioneered during the COVID pandemic lockdown. We again have these light onboarding journeys that we are pioneering, further expanding our reach to our customers.
Customers today also have the choice of having our SIMs delivered to their home. Of course, our connections are also very easily provisioned by our agents who visit the home and connect in a very short period of time. That onboarding experience itself is very simple. Again, known for pioneering the eKYC, D-KYC approach, making it very easy for people to understand what services they want. Very simple installation experience, like I mentioned, and a very easy process for happy customers to refer and onboard other customers, in turn creating that viral effect. When it comes to making payments, of course, we offer, like I said, the highest value for money tariffs anywhere in the world.
To make those payments, we support a whole slew of payment methods. Of course, now including our partner WhatsApp, as they introduce this payment on their platform as well. Again, an omni-channel approach to care. Of course, we are self-care first through MyJio, as we've been for many years now. Where customers do need a human touch, we have everything from the chat channel to voice and email and all of those channels which are available to our customers 24/7. Next slide, please. Speaking a little bit about the other pillar of our success of our continued leadership in this space, which is our network architecture. Like I said, it has been a no-legacy network architecture from day one.
A pan-India network which is carrying probably the highest amount of traffic on our mobility network and obviously more traffic coming online through our fixed line network as well. It is a highly distributed network to begin with, but we believe that as we go into 5G, relatively speaking, we need to go deeper. As we speak, we are improving our network infrastructure to take it much closer to the points of consumption, much closer to our customers. Really creating a deep edge topology that we are now rolling out in preparation for 5G rollout, which we expect to happen very soon. What that means is we will be much closer to the customer through these additional points of presence.
Obviously, we'll be making our network architecture even more resilient. Because of the proximity of our network to the customer or the edge fabric to the customer, we can now push compute from our data centers to the edge and much closer to where the customers need that compute, especially enterprises, for that compute to be based. This is a vertical approach obviously and beyond central data center optimization that takes all further versatility, wider connectivity much closer to the edge and power usage thanks to the 5G capabilities of the 5G network as the ability for the compute. Next slide. If you look at JioFiber, which is now the other pillar after mobility.
Like I mentioned, JioFiber has very steadily scaled up, and today, we have connected more than 5 million homes, within two short years of launch, despite multiple lockdowns and other constraints. Over the past few months, obviously the pace of home connections has accelerated substantially. Obviously, we believe we are pioneering the next generation fixed-line infrastructure in the country, thanks to the deep fiber assets that we are laying across our nation. If we just look at our performance over the last year, we were contributing to nearly two-thirds of the total industry-wide connections that were provided over the last year.
Put in other words, we have done twice the amount of connections that the rest of the industry put together, when it comes to fiber connections. Next slide. Also what we have done is, the early adopters for JioFiber, what we have understood are relatively premium customers, for whom our initial slew of prepaid tariffs were probably not their preferred way of paying for these services. We have introduced now a rich portfolio of postpaid plans. All of which have a slew of add-on content.
Along with our fiber connection, we are also providing a Jio set-top box to enable all of that content to be viewable on the large screen of a home for a very attractive price of just INR 100 that customers have to pay in addition to their fiber tariff on a monthly basis. The Jio set-top box itself, we are offering to all of our fiber customers at 0 entry cost. When we mean 0, we mean literally 0. Obviously, no extra outlay from the customer of any kind.
As you see on the graphic to the right, there are obviously the customers get high-speed internet as well as hundreds of on-demand channels, more than 14 leading over-the-top content applications and even communication services like video calling on the TV, all bundled for that postpaid tariff that customers can take from us. Next slide. Again, third pillar. This is targeted at enterprises. Obviously Jio's focus since its initial days has been on making sure that our communication services are available first to consumers and to homes. The enterprise focus has been steadily increasing over the years.
If you look at our readiness to offer a rich set of solutions to enterprises, it subsumes everything from the ICT stack, which includes the customer premises equipment. The gateways which are now fully software-defined. The end-to-end infrastructure that is needed for that communication stack to be delivered. Everything from connectivity to, like I said, cloud compute, and now increasingly edge compute. For the Internet of Things that now industries and consumers are adopting, again, both the infrastructure and the NB-IoT network. In addition to that, the solutions that most enterprises require when it comes to communication and collaboration, on our own and through partnerships with partners like Microsoft and a number of other horizontal solutions like security as well as industry-specific vertical applications. All of these, we are now well-positioned to offer that.
Very innovative model of how we are offering it. In most cases, enterprises have had to outlay a lot of CapEx to set up this stack, irrespective of the partners whom they dealt with. Jio is stepping up to ensure that we migrate our enterprises from a CapEx to an OpEx model for using as they require. Which also means that we take on the responsibility of upgrading most of these technologies for our customers, which means our customers can enjoy very low technology obsolescence. Where required, we are also able to step in because we ourselves are a very large operator of a lot of complex technology as Jio. Many of those services now we are able to offer to external customers as well as managed services.
Also, like I said, our approach has been to offer obviously our own services that we have developed internally, but also through partnerships. What we are now working on introducing very shortly is a digital marketplace where we can bring a curated set of applications from very select partners. Everything from horizontal applications that enterprises require to industry specific vertical solutions. All of these from covering almost all the functionalities which are needed by enterprises, including the functionalities which are needed for commercialization and e-commerce. That is really something that we are now working to introduce to our enterprise customers in addition to connectivity. Next slide. We also continue to enhance our technology ecosystem through a number of partnerships.
On this slide, we are just calling out a few of the prominent partnerships that we have entered into recently. The first one is with a company called Glance, which are who have been a global pioneer to bringing in an AI-driven experience to what is considered to be a dead property, which is the lock screen of your phone. They have, for the first time, what Glance has done is to bring in relevant content that people can consume even while their phones are in locked mode. Really converting the lock screen of the phone into a very usable and valuable property for our end users.
We have invested $200 million in Glance, which, because we believe in the potential of this platform, not just for Indian customers, but for global customers. Obviously, there is an integration, a close integration that we are doing with them for all of the devices that we ourselves are building, including the JioPhone Next line of smartphones. The second company we want to highlight is a company called Two Platforms, a very interesting company which is in the space of artificial reality, which means that they can create again, AI-powered digital humans, whether it is in voice or video mode, and also create artificial spaces, all of which have multiple applications, everything from communication to creating human personas, to creating very immersive spaces, including for gaming.
Again, we have invested $15 billion for a 25% stake in this company. The third one we wanna talk about is a company called SES. Again, JPL and SES announced a joint venture targeted at delivering a constellation of high-performance satellites over India targeted at providing satellite-based broadband services. This multi-orbit network of satellites will enable us to further deepen almost create a ubiquitous capability to offer multi-gigabit links irrespective of where anybody may be in India. Likewise, we also continue to strengthen our undersea cable portfolio. Again, we have joined a new cable system called IAX, which is connecting Maldives directly to India and to Singapore.
This is obviously in addition to all of the undersea cable assets that we already have, again, positioning Jio to become not just a strong local player, but also a strong regional player in this part of the world. Finally, some recognition. Of course, this is just a sampling of all the recognition that we have received globally. Which is good to know that in addition to obviously our customers and partners, we are also getting some recognition from the industry broadly. If you look at our presence in the TIME 100 most influential companies globally, where Jio Platforms featured. If you look at Brand Finance, where we are number five in the top strongest brands globally, and obviously number one in India.
If you look at Fast Company, we are number one in India and again in the top 20 globally. Obviously from a slew of partners like TM Forum, the Asia's Greatest Awards and so on. All of this obviously is icing on the cake. I think we derive true satisfaction from what we are able to deliver to our customers and obviously adding value to the country with respect to the digital life that we are providing. But also global recognition is obviously the icing on the cake when it comes to the past year, which has been pretty. With that, I will hand it over to my colleague, Anshuman, who can then take you through the quarterly highlights.
Thanks, Kiran. Coming to the highlights, operational and financial performance for the quarter and full year. For the quarter, we had very strong financial performance across the connectivity and the digital platform businesses. Consolidated revenues for the quarter were at INR 22,261 crore and EBITDA at INR 10,918 crore. A significant jump in the ARPU over 10% quarter-on-quarter from INR 151.6 to INR 167.6, with an improving subscriber mix and the flow-through impact of the tariff hike that we saw in December. We had very strong gross additions over 35 million, and that continues to be healthy. As has been over the last several quarters, we've done over 30 million gross additions, 30 million gross subscriber additions.
The customer base at the end of the quarter was at 410 million. Some reduction in the net base, mainly on account of the same consolidation behavior that we saw even in the previous quarter, after the tariff increase. That seems to be abating now with the flow-through impact of the tariff increase. Now more or less we are completing one full cycle of recharge. Data traffic continues to be very strong, 48% year-on-year increase in the total data being consumed on the network, with overall traffic of 24.6 EB for the quarter, over 8 EB per month. This continues to show a very strong, healthy growth trend.
Kiran spoke about the investments that we have made and the partnerships that we have entered into with Reliance Jio Platforms and SES. Sustained scaling of the business across all the verticals. Next. ARPU, I mentioned this. There's been a very significant increase in ARPU over the last couple of quarters, and even more so in the last quarter. 10 percent, 10.6 percent quarter-over-quarter increase in ARPU. Improving subscriber quality. Also the ramp-up of our FTTH business, and the flow-through of the tariff hike on the ARPU. All of which has helped in the ARPU increase, but also a very healthy increase in per capita data and voice consumption.
As you can see in the chart at the bottom, the per capita data consumption has now gone to 19.7 GB per month, on a base of over 400 million subscribers. That continues to show very strong growth trend. This is something which shows that the customer engagement is improving and the customer activity levels is improving, as time goes by. On the key operating metrics for RJIL, our connectivity business, as I said, we ended the quarter at 410 million subscribers. The very healthy gross additions of over 35.6 million getting offset by decent consolidation, that trend seems to be coming to an end now. ARPU at 167.6. 21% year-over-year increase in ARPU.
Over 10% quarter-on-quarter increase. Data traffic grew by 47.5% year-on-year to 24.6 exabyte during the quarter. Very healthy per capita voice and data consumption. As you can see, data consumption per capita has grown from 13.3 to 19.7 in the last one year. Even voice consumption has shown a very healthy increase from 823 minutes to 968 minutes per user per month. Key financials for the connectivity business, that is RJIL. Revenues, operating revenues of INR 20,901 crores. That's a healthy over 20% year-on-year increase. With partial impact coming on account of the tariff increases. EBITDA at INR 10,554 crores. EBITDA margin of 50.5%.
The first time, RJIL has crossed the INR 10,000 crore EBITDA mark. If you recollect, JPL had crossed it last quarter. RJIL showed an EBITDA increase of 27% year-on-year. Growth momentum and also the operating leverage. As we see the business growing, continuing to get more subscribers and more revenues, the operating leverage should help us in improving our margins further. Coming to JPL, the key financials. Operating revenues at the consolidated JPL level, that's Jio Platforms Limited, was INR 22,261 crore, that's a 22% year-on-year increase. EBITDA growth of 27.4% year-on-year to INR 10,918 crore. Net profit of INR 4,298 crore for the quarter. Moving on, in terms of full year numbers.
Operating revenue for the full year for Jio Platforms Limited was INR 81,587 crores, which grew from INR 73,503 crores the previous year. EBITDA came in at INR 39,112 crores. That was. You know, the EBITDA margin was at 47.9% for the full year. But as is shown in the previous slide, it's inching closer to the 50%, with every quarter increase. EBITDA margin grew by 3.9% year-on-year, with the benefit of the ARPU increase and the operating leverage. Strong net profit growth of 23.6% to INR 15,487 crores for the full financial year.
Despite COVID challenges, all of you are aware that we lost time, we went through some hardships, especially during the Q1 of the financial year and some of that flow-through impact in Q2. A very strong operating and financial performance on the whole for the full financial year. Very good, you know, momentum as we have started the next financial year. With that, this is the last on Jio Platforms. I'm gonna hand over to Gaurav to take you through the Reliance Retail result summary.
Thank you, Anshuman. Good evening to all. Before I could give you a walkthrough of the full year highlights for the year, let me just spend a minute talking through the operating context. This year has been challenging for us, given the spread of two waves, which was the Delta, which impacted the quarter one performance, and also Omicron, which impacted the fourth quarter. During which there were several operating restrictions which got imposed, which impacted service delivery, store opening, and expansion plans. Despite these adversities, we operated about 87% of our stores and also had about 81% of the footfalls to pre-COVID levels.
Despite these adversities, we made all attempts and all our employees rose to the occasion to ensure that all our customers are served to their best service expectations. With that said, our performance for the year has been very strong. All-time high revenues and profits were delivered this year. A revenue base of close to about INR 2 lakh crore, with a milestone EBITDA profit of over INR 12,000 crore were achieved. We crossed a milestone of 15,000 stores during this year with over 2,500 stores launched this year. This operates to about seven stores per day kind of store opening rate.
What is also worth noting is that we have expanded close to about 8 million sq ft of operating space, which is our highest ever in any given year. We now have about 42 million sq ft of operating retail space. Our efforts in scaling up digital commerce and new commerce businesses are on track, and we continue to make new highs quarter after quarter. Our digital orders are up 2.5x. Our merchant base is up 3x over the course of the year. Our share of business through all these new emerging channels is at about 17%. While we continue to invest in expanding our reach through stores and platforms, we also are investing in our supply chain capabilities.
During this year, we have expanded the warehousing and fulfillment space to 22.7 million sq ft, which is double that what we started with before the start of the year. The trust with our customers continue to grow and our loyalty customer base stands at now 193 million customers, which is up 24% year-on-year. We continue to bolster our capabilities through acquisitions and partnerships, and that's not just in building portfolio brands, but it's also about service capabilities. It's also about unique products that we are able to bring to our customers. We have spent close to about INR 9,700 crores during the course of the year in bolstering these capabilities.
One of the ethos of Reliance Retail is all about inclusive growth, and the cornerstone of inclusive growth is about jobs and the reskilling of people. It has been an unprecedented period with over 150,000 new jobs being added, what is one of the highest by any company during this year, given the impact of COVID, especially. Our employee base is now well over 361,000 people. All in all, it is a period where we have resumed our growth momentum as the impact of COVID has subsided, with the end of the year. Looking at the financial performance, our gross revenues at INR 1,99,974 crore.
At this level of nearly INR 2 lakh crore revenue, we see ourselves among the top ten Asian retailers, which is a feat not achieved by any retailer in the country. Our EBITDA growth at 26% at INR 12,081 crore. Our EBITDA, excluding the investment income, grew at 29%. Our EBITDA margins grew by 10 basis points, delivered at 7.1%. Profit after tax at INR 7,055 crore against INR 5,481 crore last year. While we are improving our service capabilities, strengthening our engagement with the customers, all our efforts are also getting noticed by various industry forums. Some of the key recognitions are shown below. Some of them are very heartening to see.
We ranked 56th in the Global Powers of Retailing by Deloitte list in the world's largest retailers. We continue to rank 2nd fastest growing retail company in the world. We are also ranked 3rd in the list of Fast Company, Most Innovative Companies for Asia Pacific for JioMart platform. Some of the other recognitions were with regard to Great Place to Work certification, Association for Talent Development Award for Reliance Retail, which is one of the most coveted awards in the industry. Most Admired Retail Group through IMAGES, Nifty India and others. Some key recognitions that we received during the course of the year.
Talking about the fourth quarter highlights, and again, just giving the context of where we operated. The normal store operations were impacted in January because of the disruption brought by Omicron strain, which actually impacted normal operations of stores and footfall really dropped during the month. I think I was talking about the operating environment. It was a challenging environment at the beginning of the quarter because of the Omicron spread, but at the end of the quarter, there was a return to normalcy, and that's what we see on the right side of the curve shown where we see footfalls gaining beyond the pre-COVID period at 104%.
With cases subsiding and also the restrictions being relaxed, we saw consumer sentiments also improve gradually, and the discretionary spend came back. All through the period, not only just in this quarter, but also through the entire COVID period, we have seen the resilience of small towns. Over two-thirds of our stores and digital commerce platforms actually get businesses from small towns, and that has really led to our business recovery even in this quarter. Some of the key call-outs for this quarter. Our revenues have been an all-time high for this quarter. The base of this growth has been well-rounded with double-digit growth across all the consumption baskets year-on-year. Our EBITDA performance have been strong.
Our operating EBITDA has been even better than the festive quarter, which is a very strong period, and mindful that our last quarter was also our best quarter in performance. Momentum on new store opening continues. We opened 793 stores during the quarter, additional 1.6 million sq ft. Digital orders as well as merchant partnerships continue to scale further. The growth momentum has sustained through the quarter for us. Looking at the growth, again, a broad-based growth across all the consumption baskets at INR 58,017 crore for the quarter against INR 47,064 crore for last year same period. Record revenue performance, it's a growth of 23% and it's led by consumer electronics and fashion lifestyle. It's really grocery, which is the most resilient business.
That business recorded all-time high revenues. That has been across all the channels, not just our stores, but also digital commerce channel led by JioMart, as well as our new commerce merchant partners. Digital and new commerce as a channel now contributes 19% of sales. Very broad-based growth across the business. On the profit side, resilient delivery for us. Our EBITDA performance is 2% up year-on-year at INR 3,750 crores, against INR 3,617 crores last year. EBITDA from operations is 16% up year-on-year. The growth has been brought by, again, grocery and fashion lifestyle revenue as the business rebounded. Also the continuous emphasis on ensuring that the costs are well under control.
Our operating EBITDA is at a new high for this quarter. Our focus on our infrastructure expansion is on track. We opened 2,500 stores during the course of this year. 793 stores for this quarter. Additional 1.6 million sq ft of space with about 42 million total sq ft operational. While we are focusing on additional stores and strengthening our reach to our customers, it's really our investment which is also in the back end. We have added 71 new warehouses and fulfillment centers with an area of 3.1 million sq ft of space during this period. Talked about job creation, which is really a cornerstone of our initiatives of inclusive growth.
75,000 new jobs created in this quarter alone. Our employee base is well over 361,000 people. We have also been focusing on strengthening our brand portfolio, and we've announced a series of partnerships and acquisitions during the course of the quarter. The focus has been strengthening our portfolio for the Indian fashion brands. The transactions with Abu Jani Sandeep Khosla, Abraham & Thakore, Rahul Mishra, AK-OK were really towards building that strong portfolio. The investment in Clovia further strengthens our position in the intimate wear segment. With Clovia, Zivame, Amante, Hunkemöller, and Hanky Panky, pretty much we now have presence across various income segments and customer choice segments.
Looking at the financial summary for the period. Gross revenue at INR 58,017 crores, up 23% year-on-year. EBITDA at INR 3,075 crores, 2% up year-on-year. Profit after tax at INR 2,139 crores, against INR 2,247 crore year-on-year. Revenue profits delivered for the electronics. Last year when, you know, some very impactful campaigns to engage with customers. We launched new products, 2 million new customers. On the side, well, that has grown 20% quarter-over-quarter locations, and also launch of several variants of our products and SKUs. On the JioMart Digital, which is our new commerce platform, the entire value proposition is now getting really accepted by our merchant partners.
We've seen 50% of the merchant partners, and we continue to engage with them further. It's really a comeback from all towns, which I know that our field stores during the quarter soon after January Omicron period. We've seen footfalls surpass pre-COVID period, and also saw you know build-up of average bill values by 27%. It has been a robust growth over the last year for our apparel footwear business. We ensured that there is a freshness of range in our stores and our platforms, so we also did an early inward of our spring/summer range.
What we also saw is that with cases subsiding and normalcy returning, offices reopening, schools reopening, there was, you know, some rush of wardrobe refreshing by families. We saw some of the categories like men's wear, casual wear, office wear, kids wear, open footwear are doing particularly well during this period. On the small towns, which is our big focus area, Trends Small Town is a format that crossed 600 stores, and we announced last quarter that we had crossed over 500 stores as a milestone. We continuously are upgrading and ensuring our reach is further with more stores. We added 100 stores this quarter alone. On AJIO, our performance is all-time high. We are making records with every passing quarter.
Our growth is driven by catalog expansion and also impactful campaigns. The campaign, like All-Star Sale campaign, is one of the big properties that now AJIO is driving, that is helping increase its conversions. It also helped making March as one of our best-ever month for the platform. All of this is also helping us to really democratize fashion. We are now taking fashion into really the small towns and really connecting that Bharat with the fashion pyramid of what India as well as the world has to offer. Over two-third of our orders really come from small towns. It just ensures that, you know, the most and the best of the fashion is really made available to all customers across the country.
On the new commerce side, revenues up 3.5x over last year. Our catalog continues to be strong, 55% growth year-on-year, and we continuously adding more labels, brands to it. We also launched four of our own brands in the value segment. It's really the promotional events which is building more traction with our merchants, and our average value per merchant has doubled year-on-year. There is a lot of value which our customers, especially these small merchants, are now seeing through the broad range and also the promotion that we are bringing to them.
The strong traction from small town merchants remain on track, so 2/3 of our business or even a little bit more over 70% of our business really comes from tier-three towns and below. It's really our reach into the small towns which is really giving us that growth platform. Talking about jewelry. Jewelry has been a volatile business during this quarter. That's largely driven by the volatility in gold value. What we have seen is a very resilient performance through this period, which is led by small town growth, but also the wedding season which continued in the quarter.
One of the focus areas for our business is to drive diamond jewelry, and that actually gives us a much broader palette for building designs for our collections. The diamond share has improved by 230 basis points year-on-year. On the partner brand business, which is really our premium brand play, we are the partners of choice with over 45 global brands being represented by us in our portfolio. That part of the business demonstrated strong double-digit growth, led by the mall recovery as well as continued business coming from digital commerce platform.
We also strengthen our portfolio through the strategic partnerships that I talked about, and that is strongly led by the focus on strength of the Indian fashion designer as an offering. Zivame, which is the leader in intimate wear, that as a business has been on a double-digit growth year-on-year. The platform has been focusing on strengthening the product portfolio and that is also being led by the marketplace model, with more and more brands and categories being introduced. The Grand Lingerie Festival is also one of the big properties, which is an annual property, and that property did 3x growth in traffic and orders as compared to the rest of the period for the year.
It is becoming more and more meaningful and getting more and more traction with our customers. Next slide, please. Grocery has been a very resilient business for us throughout the COVID period, but also we see that as the stores have opened up, the customer footfalls are back to pre-COVID levels in our stores. What is heartening to see is that customers who have been using omni-channel capabilities, so they have been getting the benefit of the convergence of technology and the physical stores, those customers are shopping on both channels and are buying about 35% more than customers who only are shopping at single channel. Really the play of omni-channel is really coming to life through our offline and online conversions.
One of the milestones for us has been that we have been able to operationalize over 2,000 grocery stores across the country. On JioMart, we continue to scale high with addition of new categories. Electronics and beauty got added. We invested in Milkbasket, and the subscription business has now doubled year-on-year since the time we integrated that business. We expanded that business into newer cities like Jaipur, Chennai, and that expansion is also well-tested and is now ready to scale up. Talking about the new commerce business. Our merchant base is up 4x year-on-year. Older merchants have been buying significantly more, also ordering more and also ordering a wider set of product lines.
It is a fantastic story to really talk about how our merchant partners, those small kiranas, are really finding tremendous value in associating with the Reliance platforms. We have been looking at adding more specific region-specific assortment, also augmenting our supply chain capabilities to ensure that our delivery times are shorter and more dependable. Next slide, please. Talking about pharma. Store productivity and online orders have really doubled during this period, which is led by better offers, also wider range and also faster deliveries. One of the faster delivery reasons has also been our focus on integrating with the hyper local capabilities. 30% of our orders are now being delivered through our stores across 8,000 pin codes.
Our focus on expanding our range of products is really taking shape. Our catalog is 40% up year-on-year and outside of the prescription drugs that we offer, we are looking at adding a wide range of products on the OTC beauty, Ayush and homeo side as well. New commerce efforts are now expanded to 1,900 cities and our merchant base has doubled on a quarter-over-quarter basis. On the Urban Ladder side, our business has been strong over last year with the improved offerings, also higher conversions. One of the things that we have been really pushing for is expanding our base of products and ensuring that we've become a destination.
The presence of third-party brands is really helping us scale up that part. Our product portfolio itself has grown 5x year-on-year during this period. As we look ahead into the new year for our business, the priorities are very clearly charted out. We are looking at delivering a very strong and competitive growth in revenue and profits. Some of these initiatives would be centered around accelerated store expansion. We would take all our formats into newer geographies. We would look at continuing to strengthen our digital commerce as well as omnichannel capabilities across businesses. We would be onboarding newer merchants across the categories and geographies, and also ensuring that we also improve on the wallet share of all our partner merchants.
We would look at augmenting our product design and sourcing capabilities, which is really one of our big competitive strengths. We would look at growing our own brand portfolio. Of course, looking at how to scale up all the new businesses that we have acquired and also started over the course of last recent times. That's really what I don't talk about on Reliance Retail.
In the oil and gas segment, just to recap the performance for the year. You know, with the commissioning of the R-Cluster well in December 2020 and subsequently the Satellite Cluster in April 2021, you know, a couple of months ahead of schedule. We've seen a production rise from KG-D6. Consequently, we are seeing the production increase considerably from the earlier year. In fact, we have also seen prices rise. As we know, the gas markets are quite tight and prices have been elevated. That effect we are seeing now in the revenues as well as improved EBITDA margins. Now, going forward, we expect prices, ceiling prices to increase to $9.92 in the first half. That's been notified.
Further we expect increases going from there onwards in the second half of the year. Next slide, please. Just to recap the quarter gone by. While production was steady, the EBITDA was lower simply because of the U.S. divestment. There were certain tests that we had to carry out to validate our understanding of the reservoirs and some of the well intervention jobs. Consequently we saw a slightly lower EBITDA, but we expect this to increase in this year, particularly as we bring on stream the MJ field. Currently we're producing around 20% of India's domestic production. We expect to increase that to 30% with the commissioning of the MJ field in the next 15 to 18 months. Next slide, please. The MJ field is very much on track.
We have now drilled all the wells. We expect to undertake the lower and upper completions over the next few months. The FPSO is on track. It's coming together and we expect that to converge with the drilling with the completion of the wells towards the end of this year. In fact, the final offshore installation campaign is also although we had a little slightly challenging circumstances because the weather window was not as kind as in the construction window between December and April, mid-April. Nevertheless, you know, we are tiding over the challenges, and we expect to bring this field on stream by the end of the year.
Meanwhile, in the block KG-UDW1, which is contiguous to KG-D6, wherein we are undertaking exploration activities with the perspective that, you know, we can monetize any resources by leveraging the existing infrastructure. We are very much on track with our plans right now, and we expect to commission the field by the end of the year. Next slide. Just to give a perspective on the gas market and its outlooks, as you can see, you know, the tightness continues. Yeah, again, it's been exacerbated by the conflict now in Europe as they try to diversify their source from Russian supplies, there seems to be quite a bit of competition with the Asian consumption.
Europe itself consumes about 85 million tons per annum, which is 1% of global supplies. You know, with them moving away from Russian supplies, there is going to be tightness, particularly because there's no additional capacity coming on stream until at least 2026 or so. We expect this tightness to continue, prices to be elevated. In India, we have seen a slight pullback because of the high prices. KG-D6, which has the price ceiling, you know, that would be quite attractive because of the lower prices compared to the market prices. That's an outlook that we believe it will remain. In terms of demand, it will remain quite strong. That's the overview.
Essentially, forward outlook is, you know, the production, sustained production and increased production based on KG-D6 field, as well as prices will drive value, for the E&P business. We are currently producing about 20% of India's total domestic production, and we are working on increasing this to up to 30%. Thank you.
To the last presentation of the evening on O2C. Looking at demand, overall year-on-year demand, as you know, was up 4.7 million barrels with easing of restrictions, vaccination drive. However, on a quarter-on-quarter, we did see a fall in demand by almost 2 million barrels on the back of the Russia-Ukraine conflict as well as some aspect of, you know, the Omicron variant coming in. Polymer and polyester demand year-on-year improved, but it was constrained in a volatile price environment. Overall, our domestic oil demand, you know, up 3.1% on the back of road travel and air passenger traffic that we saw.
Operating rates on the cracker side, we did see a reduction because of the volatility as well as the Winter Olympics and fresh lockdown in China. Overall, I would say a more moderate recovery in demand with opening up of the economy, which was constrained by price volatility. On moving to the price and margin trend, when you look at feedstock prices, you know, oil at a 10-year high on the back of the conflict. Also, European bid for LNG meant that energy prices was significantly higher. Like, when you look at naphtha prices, $871 a ton, again up 19%. This kind of move in naphtha did have an impact on cracking economics.
When you look at product margin, very strong growth in transportation fuel margins, gasoline up 17%, gas oil 71%, ATF 59% higher on a quarter-over-quarter basis. As I mentioned, you know, higher naphtha prices and its impact, you could see the downstream chemical margins coming off polymers anywhere between 21%-27% lower. Polyester chain lowered by about 11%. The primary driver for transportation fuel, you know, which we saw a 2- to 3-year high, has been, you know, the demand continuing to be good, lower inventories and also sanctions on Russian crude had an impact. Limited Chinese exports, you know, is also an explanation for why transportation fuel was higher.
Benchmark polymer and polyester margin declined quarter-on-quarter with higher feedstock prices. When you look at domestic demand, the first one is fourth quarter FY 2022 year-on-year. You can see that oil demand is up 3.1%. Diesel and gasoline remained flat on the back of subdued manufacturing activity and also on impact of Omicron. However, ATF, we saw a 6.5% year-on-year increase on the back of air passenger traffic up, which was up 37% in March. Overall, when you look at 2022 versus 2021, overall demand increased by 4% to about 203 million tons.
Domestic growth has been constrained by domestic high prices and as well as some of the COVID restrictions we saw. When you look at polymer demand on a fourth quarter basis, it was up 3% both year-on-year as well as on a sequential basis. Broadly, I would say that demand remains stable despite higher feedstock and polymer prices. We did see growth in essential sectors, especially health and hygiene and food packaging. PVC -2%, you know, demand remains subdued because of, you know, multi-year high that we saw as well as seasonal rains.
When you look at FY 2022 over FY 2021, polymer demand up 8% on the back of increased improved activity. We did see a more broad-based demand in health, hygiene, packaging, agriculture, infrastructure. Overall, year-on-year good, otherwise quarter-on-quarter as well as when you compare quarter has been a bit stable. On polyester side. You have to go, Hemant. Just go back. Now you can go down. Moving to the deltas. Here you can see that QOQ deltas have been lowered by between 31% and 37% on the back of unfavorable Naphtha cracking economics. That's had an impact on margins. Ethane cracking is very advantageous in such a high oil price environment.
Of course, on the counter side, some of the logistics constraints and higher ocean freight supported the Indian prices. When you look at FY 2022, again, overall, deltas down between 3% and 17%. You know, the product price increase that we saw anywhere between 20% and 40% significantly lagged the fact that naphtha prices were up 82% on the back of higher oil. Also further in the case of polymer market remained well-supplied with all the new capacities that we saw. It was in a way only, you know, if you had an integrated operation and feedstock flexibility, you could be a little bit more resilient. On the polyester chain, margins fourth quarter down 11%.
We saw weak MEG and PTA margins led by higher feedstock prices. It was partially offset by a strong rebound that we saw in PX margins. Also, overall, I would say that global polyester market has also been slow to recover and that impacted staple fiber and yarn. On a year-on-year basis, you know, overall polyester chain margins up 17%, reflecting a recovery in polyester markets, of course, from a low base. There was improvement in PX and PTA, which was offset by polyester and MEG deltas. Coming to transportation fuel, quarter-on-quarter, actually gasoil demand was lower by about 0.9 million barrels.
When you look at the cracks at $21.6, you know, it's a very sharp rebound from $13 in the previous quarter and $6 that was a year back. That's the cracks that we're seeing is the outcome of the disruptions that we saw in Russian exports to Europe, as well as the you know natural gas price impact and therefore the switch to gasoil. Also overall you can see the inventory levels down to 508. Lower inventories and also limited Chinese exports caused the big jump in gasoil and you have seen this trend continue through April also. On the ATF and kerosene, again, flat on a quarter-over-quarter basis.
A year ago, then you can see the jump $16, last quarter about 10, and before that, a year back, about 3. That is on the back of gasoil's strength actually prompted refiners to shift from jet to gasoil. Also improving aviation demand in Asia as well as winter heating demand caused this kind of big jump in jet kero. Finally on gasoil side, again, demand rose by 0.6 million barrels per day. Cracks at $15 versus 13 in the previous quarter and 6 in a year back. This strengthening again because of demand in Asia. We did see some unplanned outages in Thailand and Vietnam, and supplies from China continued to be lower. Also, increase in regional inventories.
You can see the chart there, 455. There has been an increase in inventories that weighed in on the margins overall. Of course, sanctions on Russia cutting feedstock supply to U.S. refineries also had an impact. This is just the year-on-year view and it very clearly talks about the overall jump that you are seeing in cracks, $12 for gasoil, $11 for gasoline and ATF $9, and you can compare it to FY 2021, which was $6, $3, and $1 respectively. Again, on gasoil it is demand, lower exports from China, lower inventories and gas to oil switching.
On gasoline side, again, inventories, Chinese export restrictions and the whole closure of refineries in several demand centers had an impact. On ATF side, easing of borders and higher travel. The fact that there has been the overall tightness in diesel complex also lifted ATF cracks. When you put that context and see our performance for the whole year, revenue's up 56% at INR 5 lakh crore. 52,022 is the EBITDA, which was higher by 38%. When you look at FY 2022, you know, big benefit coming from higher volumes up 7.2%. A strong recovery in transportation field that we saw, domestic demand, domestic sales was good as our economy opened up.
We also saw strength in PX, PTA, and polypropylene, along with feedstock flexibility that we had. Overall margins were lower, but that is, I would say, really the base effect that we are seeing. When you look at, for the quarter, INR 1,46,000 crore revenue, sequentially up 11%, year-on-year up 44%. INR 14,241 crore, sequentially up 5% and 25% on a year-on-year basis. This performance is despite the volatility that we saw and, you know, benefited again from mid-distillate cracks. We maximized our mid-distillate pool, and within that, we maximized gas oil production versus ATF because of better economics.
As I mentioned earlier on, downstream chemical profitability has been impacted by weak naphtha cracking economics as well as lower demand growth. This is the operating performance throughput of 19.3 million tons and production meant for sale of 17.3 million tons. A few points for me to highlight. You know, there was a deferred plant turnaround with improvement in margins. We've minimized our feedstock by sourcing arbitraged barrels. This quarter we had a higher sour crude mix in our basket, which you know and therefore helped us capture the wider Brent-Dubai differential. I talked about having maximized the mid-distillate pool and within that diesel over ATF.
In this quarter, we rationalized our aromatics production and maximizing reformate for gasoline blending. We maximized our naphtha exports, given where cracks and premium was. That we were able to do by optimizing our cracker feed. You know, we have tried to maximize our biomass co-firing at Hazira and Dahej as a step towards a more sustainable fuel mix. In short, I would say that we exploited the operational flexibility that we have in our refinery configuration to get the maximum out. Coming to the last slide on the dynamics. Overall, our own thought process is that this year too, there will be a further increase in demand by almost 2 million barrels per day.
Lowering of GDP growth and oil demand, you know, is something that is possible because of the conflict. Russian crude and product supply is definitely having an impact on supplies. Overall margin, you know, we think that lower Chinese exports and peak maintenance season will help support product margins. Also, reduced diesel imports by Europe from Russia is supporting margins and PX, PTA and MEG margins are expected to be range bound on the back of the capacity overhang that we have. Overall, demand drivers are good. You know, very resilient industrial demand that we are seeing and including we'll see more on the agricultural demand too. Driving season is good for gasoline.
Polyester and polymer demand, you know, we expect that trend to continue with the opening of the economy. Anywhere between 6%-8% is something that India can see. Challenges are there, you know, resurgence in China of the virus, you know, the impact on demand because of these high prices. Supply chain disruptions and logistics, this is a more continuing trend that we are seeing, continues to have an impact on global trade and, you know, further sanctions, et cetera, all of them do have an impact on the overall price. With this, I'm coming to the end of my presentation. Thank you so much for being on the call.