(Image source from: Mukesh Ambani earns Rs 11)
How much money do you think India's richest man Mukesh Ambani makes every day? A whopping 11,000 crore. Yes, you read that right!
As per Mukesh Ambani-led Reliance Industries Limited (RIL) turnover for the 2013-2014 financial year which is a whopping Rs 401,302 crore, as opposed to Rs 371,119 crore reported in FY13, the figures speak for themselves.
For this full financial year, RIL posted a net profit of Rs 21,984 crore, the highest by any private sector firm in India.
RIL registered its highest quarterly profit in two years as strong petrochemical margins and a rise in export earnings on a drop in rupee value offset weakness in the natural gas business.
Net profit rose 0.8 per cent to Rs 5,631 crore, or Rs 17.4 per share, in the January- March period from Rs 5,589 crore, or Rs 17.3 a share, in the same period a year ago.
Petrochemical earnings improved steeply, thanks to margin expansion across polymers and downstream polyester products.
"While we continue to face technical challenges in growing domestic upstream production, the US shale gas business grew significantly during the year and has become a material contributor to our earnings," RIL chairman and managing director Mukesh Ambani said.
AW: Suchorita Choudhury
