Mukesh Ambani’s RIL becomes India's largest tax payer

 

New Delhi [India], July 5 (NT): Ahead of 41st Annual General Meeting of Reliance Industries, Chairman and Managing Director Mukesh Ambani on Thursday stated that Reliance is India's largest payer of Goods and Services Tax (GST), Excise and Customs Duty, and Income Tax in the private sector.

In the 41st Annual General Meeting, Mukesh Ambani shed light on Jio and said that Jio's subscribers increased from 124 million at the end of last year to 210 million at the end of FY18.

"Jio and retail's share in overall EBITDA from 2 percent to 13 percent," Mukesh Ambani said in yearly meet.

He added that Jio is now India's most widespread mobile network that has a larger reach than even the 2G players.

Speaking about the unparalleled growth, Mukesh Ambani said that Jio aims to make India one of the top 5 fixed broadband countries in the world.

He called Jio as India's only mobile video network announcing that there are more than 25 million JioPhone users in India.

 Worth mention here RIL's consolidate net profit for the fourth-quarter (January-March) of fiscal 2017-18 stood at Rs 9,435 crore, up by 17.3 percent on a year-on-year basis.

 

 

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