News of the Day: Reliance Becomes India’s Largest Tax-Paying Private Company
Mukesh Ambani, the Chairman of Reliance Industries said that Reliance has become first Indian private sector company paying 9,844 crore tax and 26,312 crore of customs and excise duty(6.4% of India's total collection).
While addressing the crowd and media at the Reliance Industries' 41st Annual General Meeting Mukesh Ambani said, "the RIL posted a net profit of 36,075 crores, up by 20.6% compared to Rs 8,046 crore for the corresponding quarter of fiscal 2016-17."
The company's consolidated revenue stood at Rs 1,29,120 crore, up 39 percent during Q4 FY 18, compared to the Rs 92,889 crore in the previous quarter.
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Reliance has also paid 42,553 crore GST in one year.
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