Quick Answer: How Much Cash Does Reliance Have?

Is Jio really profitable?

Jio’s net profit climbed 46% on-year to Rs 891 crore in the quarter to June, well above the roughly Rs 800 crore estimated by the markets.

IIFL said revenue of Rs 11,679 crore was a growth of 5% sequentially, or a daily revenue run-rate (DRR) growth of 4%, but marked a “significant” slowdown from recent quarters..

Is Ambani Jain?

According to one news report, a good chunk of the company’s shareholders are also strict vegetarians like Ambani and belong to the Gujarati community (as Ambani does himself) or are Jains. A spokesperson of the company confirmed to Forbes that the move was being mulled within the group for a few months now.

Why Mukesh Ambani is so rich?

Overnight, his wealth rose by $1.2 billion, thanks to the surge in the share prices of his oil-to-telecom company Reliance Industries (RIL), which is also India’s most-valued company.

How much does Mukesh Ambani earn per day?

In 2019, Ambani made an average of almost $4.5 million per day. That’s based on the $16.4 billion he added to his fortune throughout the year.

How much cash does Mukesh Ambani have?

India’s Mukesh Ambani Is Now Among The Top 10 Richest In The World. Ambani’s net worth of $60.4 billion has catapulted him into ninth position in the rankings of the world’s wealthiest people.

How much is Reliance Jio debt?

Reliance Jio reported a total debt of nearly 1,450 billion Indian rupees in fiscal year 2019. This was forecast to reach more than 1,700 billion rupees by the end of fiscal year 2021. Reliance Jio, owned by India’s richest person, Mukesh Ambani, was a wholly owned subsidiary of Reliance Industries.

Is Airtel in debt?

In financial year 2020, Bharti Airtel Limited reported a net debt of about 1188 billion Indian rupees. This was an increase from about one trillion Indian rupees in financial year 2019. Bharti Airtel offers its customers home and digital TV services along with its widely popular mobile services.

Which company is debt free in India?

Debt Free Companies in IndiaSLNameGMR Score1Hindustan Zinc70.062Coal India58.343Bajaj Auto55.224Divi’s Laboratories54.044 more rows

Is Reliance really Debt Free?

Reliance Industries Limited (RIL) declared in July that it has become net debt-free. The $83-billion oil-to-telecom-to-retail giant had reported a net debt of ₹1,61,035 crore as on March 31, 2020. Over a period of 197 days ending November 5, 2020, RIL raised ₹2,60,024 crore.

Is Alok Industries Debt Free?

In February, RIL acquired 37.7 per cent stake in the debt-ridden Alok Industries Ltd for Rs 250 crore after the Ahmedabad bench of the National Company Law Tribunal (NCLT) had last year approved its joint acquisition proposal with JMFARC.

Is Tata richer than Ambani?

However, Mukesh Ambani is richer than Ratan Tata. … In fact, more than 66% of the company stake is held by the charitable organisations such as the Sir Dorabji Tata Trust, Sir Ratan Tata Trust, Tata Education Trust and others.

Is Jio earning profit?

Profit rose to Rs 2,520 crore in the quarter from Rs 891 crore a year earlier and Rs 2,331 crore in the preceding quarter, Jio said in a statement on Thursday. Analysts expected earnings of about Rs 2,600 crore. … Rs 22,981 crore will be retained at Jio Platforms to drive future growth,” the company said.

Which bank does Ambani use?

The private sector Axis Bank has corned the bulk of Reliance’s offering by investing Rs 2,000 crore followed by country’s largest bank, the State Bank of India (SBI), with Rs 1,500 crore.

Does Ambani do charity?

Reliance Industries Ltd (RIL) Chairman Mukesh Ambani topped the Hurun India Philanthropy List 2018, released on Saturday, with the highest contribution of Rs 437 crore between October 2017 and September 2018. … The total Indian philanthropy amount in the list stands at Rs 1,560 crore.

What is meaning of net debt free?

Net debt is a liquidity metric used to determine how well a company can pay all of its debts if they were due immediately. … Net debt shows how much cash would remain if all debts were paid off and if a company has enough liquidity to meet its debt obligations.

Why is Reliance going debt free?

From jio stake sale,He will use that cash reserves to clear Reliance retail debt and list it on IPO “. He want to sell stake in oil business because Saudi have money from Aramco stake sale and Saudi needs Indian market.

How much debt does Reliance have?

Reliance Industries Ltd (RIL) has announced that it has become net-debt free. In March 2020, the company had reported a net debt of ₹1.61 trillion ($21 billion). Since then, it has raised $15.2 billion by selling stakes in Jio Platforms Ltd. Its $7 billion rights issue was oversubscribed 1.6 times.

Is Ratan Tata is richer than Ambani?

No, he isn’t Ambani. He is none other than Mr. Ratan Tata, the owner of Tata Group of India.