Business

Reliance To Consider 1:1 Bonus Shares, Becomes 1st Indian Company To Surpass Rs 10 Lakh Crore In Annual Revenue

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.

OB Bureau

Recent Posts

When A ‘Powerful Man’s Wife’ Broke Into Varun Dhawan’s House To Elope With Actor!

Mumbai: Bollywood celebrities have often had funny, at times bizarre experiences, mostly involving hero-worshipping, demanding fans.…

8 hours ago

Jatra Party Owner Arrested For Duping Actress Of Over Rs 8 Lakh In Bhubanewar

Bhubaneswar: Police have arrested the owner of a Jatra (theatre) group for allegedly duping an…

8 hours ago

How Punjab Farmers Have Paved The Way For Revival Of Organic Desi Cotton

Sanskriti Talwar Faridkot (Punjab): For the third consecutive year, Balwinder Singh of Mallan village in…

9 hours ago

Rain May Play Spoilsport During Christmas & New Year Celebrations In Odisha

Bhubaneswar: Rain may play spoilsport in Christmas and New Year celebrations in Odisha as the…

9 hours ago

Now, Amazon Prime Cracks Down On Password Sharing; Check Out Details Here

New Delhi: Netflix showed the way, Amazon Prime Video is following in their footsteps. Come…

9 hours ago

[Watch] Allu Arjun’s House Vandalised By Protesters Over ‘Pushpa 2’ Stampede; Know Their Demands

Hyderabad: Allu Arjun’s woes keep mounting. In a worrying development, protesters stormed Allu Arjun’s Jubilee…

10 hours ago

This website uses cookies.