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Mukesh Ambani

India's Reliance doubles profit on petchem rebound but misses estimates
Business & Finance

India's Reliance doubles profit on petchem rebound but misses estimates

  • The oil-to-telecoms conglomerate, led by billionaire Mukesh Ambani, said on Friday consolidated profit climbed to 132.27 billion rupees ($1.79 billion) in the fourth quarter, from 63.48 billion rupees a year earlier. Analysts on average had expected a profit of 134.91 billion rupees, according to Refinitiv data.
  • Overall, revenue edged up 11% to 1.55 trillion rupees.
Published 30 Apr, 2021 08:23pm
Reliance Jio splashes out $8bn in Indian airwaves auction
Business & Finance

Reliance Jio splashes out $8bn in Indian airwaves auction

  • Jio picked up a total of 488.35 megahertz (Mhz) in frequency bands of 800 Mhz, 1800 Mhz and 2300 Mhz, India's telecoms secretary Anshu Prakash told reporters.
  • The top three Indian wireless carriers - Jio, Bharti Airtel and Vodafone Idea - together bought airwaves worth 778.15 billion rupees ($10.60 billion) at the close of the two-day auction, Prakash said.
Published 02 Mar, 2021 09:10pm
Xi rewrites China's rags to riches tale
World

Xi rewrites China's rags to riches tale

  • The 66-year-old Zhong is currently ranked the 8th richest man in the world, according to a real-time index from Forbes, ahead of former Google head Larry Page and India's Mukesh Ambani.
Published 15 Jan, 2021 10:48am