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Reliance becomes Biggest Indian Company by overtaking Indian Oil Corporation

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India’s Richest Man Mukesh Ambani’s backed oil-to-telecom conglomerate Reliance Industries has recently piped state-owned Indian Oil Corp (IOC) to become the country’s biggest company in terms of revenue. Reliance in the 2018-19 fiscal year that ended March 31, reported a turnover of Rs 6.23 lakh crore. In comparison, Indian Oil Corporation recently announced a turnover of Rs 6.17 lakh crore for the current fiscal, according to regulatory filings to the stock exchanges by the two companies.

Saudi Oil Giant Aramco in talks to acquire 25% stake in Reliance Industries refining & petrochemical business

It was also the most profitable company in the country with a net profit of more than double that of Indian Oil Corportaion in Financial Year 2019.

Reliance Industries acquires ITC’s menswear brand John Players; strengthens readymade garments portfolio

Reliance Industries which is just half the size of IOC till about a decade back but its recently made huge tansformation and forayed into new businesses such as telecom, retail, and digital services vastly expanded its business, clocked a net profit of Rs 39,588 crore in FY19. IOC, on the other hand, ended the year with a net profit of Rs 17.274 crore.

Reliance Jewels enters North India with store in Guwahati, inaugurated by Bollywood actress Yami Gautam

IOC till previous year was the most profitable Public Sector Undertaking but may have lost this position to Oil and Natural Gas Corp (ONGC) in 2018-19. ONGC is yet to declare its FY19 earnings but it had clocked a net profit of Rs 22,671 crore in the first nine months of the fiscal year.

Reliance Jio to replace Bharti Airtel as Telecom Service Provider for Indian Railways from January 1

Net profit of IOC, which depends on oil refining, petrochemicals and gas business for its revenue, had in 2018-19 declined by 23.6 per cent over Rs 22,189.45 crore net profit it had earned in 2017-18.

Mukesh Ambani’s RIL to list Retail Arm Reliance Retail Ventures in 2019

Reliance, on the other hand, posted a 13 per cent rise in profits over Rs 34,988 crore recorded in 2017-18.

ONGC had a net profit of Rs 19,945.26 crore in 2017-18 fiscal, lagging behind IOC.

Recently they had achieved lots of milstones in areas such as Telecom, retail and market capitalization. Reliance has now add new milestone to its kitty by conquering numero uno position in terms of all three parameters – revenue, profit, and market capitalisation. With strong refining margin and robust retail business, Reliance clocked a 44 per cent in revenue in FY19 over the previous year and posted a compounded annual growth rate of over 14 per cent between FY10 and FY19. In contrast, IOC turnover rose 20 per cent in FY19 and 6.3 per cent during FY10 and FY19. At Tuesday’s trading price of Rs 1,345, Reliance boasts of a market capitalisation of Rs 8.52 lakh crore.

Reliance Retail is gearing up to disrupt Amazon, Walmart-Flipkart. Reliance Retail currently operates 10,415 stores in more than 6,600 cities, with 500 million annual footfalls. Reliance is fast working on creating the world’s largest online-to-offline New Commerce Platform, according to Mukesh Ambani, Chairman and Managing Director, Reliance Industries.

Reliance Industries: India Gets Another 100 Billion Dollar Company After TCS

Reliance Jio added 9.4 million wireless subscribers in March,2019 while its prominent rivals, Bharti Airtel and Vodafone Idea, lost 15.1 million and 14.5 million subscribers respectively, the latest data from the telecom regulator has revealed.

It is reported that Reliance industries which often shows off to be having the highest cash reserves of Rs 1.33 lakh crore on the balance sheet, also has the highest gross debt of Rs 2.87 lakh crore at the end of March 2019. Contrary, Indian Oil corp had short and long-term loans total amounting of Rs 92,700 crore.


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