Asia's Richest Mukesh Ambani Makes Money At A Faster Pace Than India's Most Valued Firm Reliance
On a daily basis, during the last quarter, RIL made profits of Rs 151.71 crore compared to profits of Rs 91 crore a day in the year-ago period.
Mumbai: India's most valued firm, by market capitalization, Reliance Industries (RIL), made a profit of Rs 6.32 crore per hour in the last quarter ended June, compared to Rs 3.79 crore an hour, accelerating the pace of money-making by 67%.
On a daily basis, during the last quarter, RIL made profits of Rs 151.71 crore compared to profits of Rs 91 crore a day in the year-ago period.
Comparatively, RIL chairman Mukesh Ambani, who controls 42% of RIL, saw his wealth soar $608 million (Rs 4519.6 crore) since the beginning of this year or at an average of $2.86 million (Rs 212.6 crore) per day or Rs 8.85 an hour.
RIL shares on BSE closed down almost 1% at Rs 2035.40 in a flat Mumbai market on Friday, valuing the company at Rs 12,90,330 crore, taking its chairman Mukesh Ambani's net worth to $77.3 billion (Rs 5,74,6250 crore), according to Bloomberg's billionaires' index.
Reliance's profits were reported on daily revenues of Rs 1745.7 crore, translating to hourly revenues of Rs 72.74 crore, during the quarter, registering a growth of 57.4%.
RIL exports during the quarter stood at Rs 56,156 crore, averaging exports of over Rs 617 per day or Rs 25.71 an hour.
The consumer-facing business of Jio Platforms and Reliance Retail contributed to daily profits of Rs 40.12 crore and Rs 10.57 crore, respectively, accounting for over half of the daily profits.
On an hourly basis, the profits from Jio stood at Rs 1.67 crore, while Reliance Retail's profit stood at Rs 44 lakhs.
The company gets revenue of Rs 244.69 crore a day from Jio Platforms, Rs 423.59 crore a day from retail operations, and Rs 1134.2 crore a day oil-to-chemicals (O2C) business.
On an hourly basis, the revenues from Jio stood at Rs 10.19 crore, retail revenues stood at Rs 17.64 crore, while revenues from O2C business stood at Rs 47.25 crore an hour.
Reliance Jio added 1.4 crore, new customers, during the June quarter, averaging 1.57 lakh per month or 6547 customers per hour.
On average, the customers spent about half an hour talking on Jio's network each day and consumed over 500 MB of data.
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