Mukesh Ambani’s Reliance Industries has become the first Indian company to earn 100 billion dollars annually. Reliance Industries’ net profit rose to Rs 60,705 crore during 2021-22. Due to this, the company’s income increased to Rs 7.92 lakh crore ($ 102 billion). Raising revenue above $100 billion is a dream-like success for any Indian company. Never happened like this before.
According to Reliance, the company’s profit has increased due to strong profits in the oil business, continued growth in telecom and digital services and strong momentum in retail business. On Friday, the company has sent this information to the stock market. The company’s consolidated profit grew 22.5 per cent to Rs 16,203 crore in the fourth quarter of FY 2021-22.
The board of the company has indicated to distribute the dividend. The board of the company has recommended a dividend of ₹8 per equity share for the financial year ended March 31. A decision on dividend payment is expected at the company’s next annual general meeting.
The company, which does business in the oil to telecom sector, had a consolidated net profit of Rs 13,227 crore in the January-March quarter of the financial year 2020-21. The company’s flagship brand Jio’s profit grew nearly 24 per cent to Rs 4,173 crore in the fourth quarter. Mukesh is the son of famous businessman Dhirubhai Ambani. After separating from his brother Anil Ambani after his father, he started his business. While he is on the verge of success, Anil is almost a pauper.
Mukesh Ambani is currently getting tough picks from Gautam Adani’s group in the country itself. The Bloomberg Billionaires Index recently released the list of the world’s richest people. In this, Adani became the richest person in Asia, leaving Reliance behind. In this way, Adani made his place in the centbillionaire list along with Jeff Bezos and Elon Musk. Mukesh Ambani’s name has also been included in this list.