Mukesh Ambani Is Betting On Consumer Businesses To Take Ril's Story Forward.
The success story is not limited to Jio. While building the 4G network, Ambani made a farsighted investment of 1.5 lakh crore to expand the petrochemical capacity at Jamnagar, Gujarat. It was the rise in petrochemicals margin that offset the sharp fall in gross refining margins (GRMs) in the last five quarters from $12 to $8.80 a barrel. The segment earnings before interest and tax (EBIT) of petrochemicals grew 63 per cent in the last financial year and 64 per cent in the nine months of this financial year. For the first time in the history of RIL, petrochemicals EBIT will overtake refining this financial year.
“Competitive cost positions and integration benefits is core to our oil to chemicals (refining and petrochemicals) business, driving sustained performance even in challenging global business environment,” Ambani recently said. Buoyed by the growth of petrochemicals and telecom, RIL’s consolidated profit grew 20.6 per cent to 36,075 crore in the last financial year, on a revenue of 4,30,731 crore, which went up 30.5 per cent. In the first nine months of this financial year, the profit grew 14.4 per cent to 29,226 crore, while revenue grew 55.6 per cent to 4,69,326 crore.
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
Pension Scheme - Safety Net
The move to introduce the UPS has evoked mixed reactions. Analysts believe its funding will have limited impact on the fiscal math
The Reit Choice?
Real Estate Investment Trusts (Reits) Are Gaining Traction As Interest Rates Stabilise. But Returns Could Be Affected By Adverse Economic Conditions And Market Volatility
CORPORATE - Calling to Account
The sudden exit of Byju's auditor BDO marks the latest in a long series of setbacks for the edtech firm
EMPLOYMENT: Skills Push
The skill development ministry plans to partner with the UGC to improve the employability of undergraduates
Building on a Vision
L&T'S CHAIRMAN EMERITUS A. M. NAIK HAS BUILT A MAMMOTH ENTERPRISE THAT IS BUILDING A NEW INDIA, FROM ITS METRO RAIL SYSTEMS TO THE RAM TEMPLE
"KYS more important than KYC"
Vijay Kedia is a renowned equity investor; the value of his listed portfolio stands at around ₹1,750 crore
ROXX STAR
THE THAR ROXX COMBINES LUXURY WITH PERFORMANCE TO MAKE A STRONG STATEMENT IN THE MID-SIZE SUV SEGMENT
HIT THE GROUND RUNNING
Smartwatches have become indispensable tools for runners, offering real-time insights into pace, distance, heart rate, and more. Here are a few you can consider
TURNING THE TABLES
INDIA'S FURNITURE MARKET IS POISED FOR A GLOBAL TAKE-OFF. ALREADY, A HOST OF GLOBAL BRANDS HAVE MADE THE COUNTRY THEIR HOME, BUT INDIAN COMPANIES ARE NOT TOO FAR BEHIND
THE EVOLUTION OF ATHERA
IDENTIFYING OPPORTUNITIES IN ADVANCE HAS STOOD THIS BENGALURU-BASED VC FUND IN GOOD STEAD. NOW, WITH A HEIGHTENED FOCUS ON TECHNOLOGY, IT WANTS TO SUSTAIN THE SUCCESS