Reliance AGM

Reliance AGM: Reliance Jio Adds 37.9 Million Subscribers in 2020, Check All Details

At the Reliance AGM, Mukesh Ambani announced that Reliance Jio added as many as 37.9 million subscribers in the year 2020

At the ongoing Reliance AGM, Mukesh Ambani, chairman and managing director, Reliance Industries Limited, informed that Reliance Jio had a net addition of 37.9 million subscribers during the year. The company now serves over 425 million consumers on the network. Reliance Jio also enjoys revenue market leadership in 19 out of 22 circles, he said. Some of the other important announcements made are as follows:

  • Reliance Industries’ consolidated revenue was Rs 540,000 crore, consolidated EBITDA was Rs 98,000 crore, and almost 50% of EBITDA was contributed by consumer businesses.
  • RIL’s contribution to Indian economy constitutes 6.8% of India’s merchandise exports, 75,000 new jobs, Rs 21,044crore of customs+excise, Rs 85,306cr of GST+VAT, and Rs 3,213cr of Income Tax.
  • RIL raised $44.4 billion, the largest ever capital raise by any company in a year globally.
  • Shareholders provided with the largest and the most successful Rights Issue ever by an Indian company. Retail shareholders have made 4x returns in just one year on their rights shares.
  • Reliance Retail continues to be the undisputed leader in organised retailing in the country, with scale that is more than 6 times the next competitor. The company is the leader in each category namely grocery, electronics and apparel.
  • “Our O2C biz faced unprecedented challenges by severe economic contraction at the beginning of year. Yet we were probably the only company globally that operated at near full capacity and was profitable in every quarter,” said Mukesh Ambani.
  • E. Yasir Al-Rumayyan, Chairman of Saudi Aramco and Governor of PIF, to join the Board of Reliance Industries as Independent Director.

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