Mumbai: Reliance Industries Limited (RIL) has become the first Indian company to surpass Rs 10 lakh crore in annual revenue.
Sharing the news during the company’s annual general meeting (AGM) on Thursday, RIL chairman Mukesh Ambani said that Reliance achieved a record consolidated turnover of Rs 10,00,122 crore (USD 119.9 billion) for the financial year 2023-24.
RIL reported an EBITDA — earnings before interest, taxes, depreciation, and amortization — of Rs 1,78,677 crore (USD 21.4 billion) and a net profit of Rs 79,020 crore (USD 9.5 billion) for the same period.
The company’s exports amounted to Rs 2,99,832 crore (USD 35.9 billion), which was 8.2% of India’s total merchandise exports.
RIL remained the largest contributor to the national exchequer, paying Rs 1,86,440 crore (USD 22.4 billion) through various taxes and duties during FY 2023-24.
RIL’s annual Corporate Social Responsibility (CSR) spending went up by 25%, reaching Rs 1,592 crore (USD 191 million) in the last year.
What will enthuse shareholders is the announcement that Reliance will consider issuing 1:1 bonus shares during its board meeting, on September 5.
If the board approves it, every investor will receive an additional share for every share he holds, thereby doubling his/her holding.
