Mukesh Ambani’s Reliance Industries has set a new milestone in the business world. The company has announced its fourth-quarter results, revealing a net profit of INR 1.89 trillion. With this announcement, Reliance Industries has become the first Indian company to surpass the 1 trillion rupee mark in net profit during a fiscal year. Additionally, the company has declared dividends for its shareholders.
Company’s Profits Surge to 1 Trillion Rupees
According to regulatory filings with the stock exchange, Reliance Industries reported a consolidated revenue of INR 10,001.22 billion (or 119.9 billion dollars) for the entire fiscal year, marking a 2.6% increase. Furthermore, the pre-tax profit for the fiscal year has crossed the 1 trillion rupee mark, reaching INR 10,472.7 billion. This represents an impressive 11.4% growth compared to the previous fiscal year. Reliance Industries has made history by achieving this feat, setting a new benchmark for Indian corporations.
Mukesh Ambani’s Remarks
Chairman and Managing Director of Reliance Industries, Mukesh Ambani, expressed his satisfaction with the fourth-quarter results, stating that all sectors of the company have significantly contributed to the advancement of the Indian economy. He emphasized that Reliance has strengthened the Indian economy and delivered outstanding financial and operational performances across all segments. Mukesh Ambani proudly stated that Reliance Industries is the first company in India to surpass the 1 trillion rupee mark in pre-tax profit.
Dividend Announcement for Shareholders
Mukesh Ambani also announced that Reliance Industries Limited will distribute dividends to all its shareholders. Along with the fourth-quarter results, the company declared a dividend of INR 10 per share for its shareholders.
These remarkable achievements underscore Reliance Industries’ commitment to excellence and its significant contribution to the Indian economy. With its strong financial performance, Reliance continues to be a key player in driving India’s economic growth and prosperity.