• Source:JND
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Reliance AGM 2024: Reliance Industries Ltd. Chairman Mukesh Ambani said on Thursday that the company is on track to generate annual revenue of Rs. 10 lakh crore ($119.9 billion) in FY2024, making it the first Indian company to cross the milestone.

Ambani while addressing the company's 47th Annual General Meeting (AGM) on Thursday said 
that Reliance's EBITDA stood at Rs. 1,78,677 crore ($21.4 billion) in FY2023, while its net profit stood at Rs. 79,020 crore ($9.5 billion). 

Reliance's exports stood at Rs. 2,99,832 crore ($35.9 billion) in FY2023, accounting for 8.2% of India's total merchandise exports. Ambani said that Reliance has cumulatively invested more than Rs. 5.28 lakh crore ($66.0 billion) in the last three years.

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He added that Reliance remains the single largest contributor to the national exchequer, contributing Rs. 1,86,440 crore ($22.4 billion) through various taxes and duties in FY2023-24. Reliance's contribution to the exchequer in the last three years has crossed Rs. 5.5 lakh crore ($68.7 billion), the highest by any Indian corporation.

Ambani also said that Reliance has increased its annual CSR spending by 25% to Rs. 1,592 crore ($191 million) in FY2023. With this, Reliance's total CSR spending for the last three years has crossed Rs. 4,000 crore ($502 million), the highest among all Indian corporates.

Media and Entertainment

Reliance chairman Mukesh Ambani said that Reliance's media business generated more than Rs 10,000 crore ($1.2 billion) in revenue. This represents an industry-leading 49% growth.
Entertainment arm Viacom18 performed even better. Driven by the sports sector, it saw a remarkable 62% growth.

Jio Cinema’s new subscription package is a game-changer as it offers OTT originals, blockbuster movies, reality shows, and top content from HBO. In just 100 days, Jio Cinema surpassed 15 million paying subscribers, this is the fastest growth in this category, Mukesh Ambani stated.

Reliance created 1.7 lakh new jobs

The Reliance Industries Chairman said that last year, the company created over 1.7 million new employment opportunities. We currently have a headcount of about 6.5 lakh employees if we include both traditional and new employment models.

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