Akash Ambani – The News Desk

MUMBAI: Reliance Industries reported a 30% rise in its consolidated net profit of Rs 19,878 crore in the September quarter as compared to Rs 15,332 crore in the year-ago quarter. The energy-to-retail major's results got a boost from a sharp uptick in oil & gas revenues and strong growth in retail and digital services. RIL's consolidated revenue in Q2 stood at nearly Rs 2.6 lakh crore, up 1.2% from Rs 2.5 lakh crore in the previous year.The numbers reported by India's most valued company on Friday were in line with expectations, market players said."Strong operational and financial contribution from all business segments has helped Reliance deliver another quarter of robust growth," Mukesh Ambani, chairman & MD, RIL said in a statement.At Rs 77,148 crore, Reliance Retail's gross re...

By Andy Mukherjee The flagship of Asia’s richest tycoon is looking a tad overburdened with businesses that are mature enough to be cast off on their own. Successful public floats of telecom and retail units will do more than make Mukesh Ambani a centi-billionaire — they may well determine the hold of the family-run conglomerate on India’s broader economy when control passes to the next generation. That transition could arrive by 2028. At Reliance Industries Ltd.’s annual general meeting Monday, the 66-year-old announced that his three children would be joining the board, even as he continues as chairman and managing director for five more years. Reliance’s sway has grown following a $150 billion investment spree over the past decade. It now controls 15%...

Tag: Akash Ambani

Reliance profit surges 30% to nearly Rs 20k crore in September quarter

A large family fortune starts a risky transition