RIL AGM 2022: Reliance Industries Chairman Mukesh Ambani on Monday said the company has made all-round progress in its business and has become the first company in India to cross $100 billion in annual revenue. They have announced Jio 5G services and said that it will be available in Delhi, Mumbai, Kolkata and Chennai by Diwali. Reliance will also start its FMCG business this year.
Addressing the company’s 45th Annual General Meeting, RIL Chairman Mukesh Ambani said, “I would like to announce the next leap that Jio is making in digital connectivity, especially in fixed broadband. And that is Jio 5G service. By using 5G technology, we can dramatically reduce latency or lag, and deliver significant increases in broadband speeds, network capacity and the number of connected users.”
During the RIL AGM, Reliance Retail Director Isha Ambani said that this year the company will start its Fast Moving Consumer Goods (FMCG) business. “The objective of this business is to develop and distribute high quality, affordable products that solve the daily needs of every Indian.”
jio 5g rollout
He said that within the next two months, till Diwali, Reliance will launch Jio 5G in several major cities including the metros of Delhi, Mumbai, Kolkata and Chennai.
“Later, we are planning to increase Jio 5G footprint month by month. By December 2023, which is less than 18 months from today, we will be delivering Jio 5G to every city, every taluka and every tehsil in our country,” Ambani said.
Speaking at the AGM, Jio Chairman Akash Ambani also announced JioAirFiber. “An even more exciting prospect of Jio 5G is ultra-high-speed fixed-broadband. Since you get fiber like speed in the air without any wires, so we are calling it JioAirFiber. With JioAirFiber, it will be really easy to quickly connect your home or office to gigabit-speed internet. ,
He said the company has developed a JioAirFiber home gateway, which is a wireless, simple, single-device solution. Get it on, plug it in, turn it on, and that’s it.
“You now have a personal Wi-Fi hotspot in your home, connected to ultra-high-speed internet using True 5G. On top of that, as it is an end-to-end wireless solution, there is no wire coming into your house, which is causing eyesore,” Akash Ambani said.
“I am pleased to announce yet another exciting partnership with Qualcomm, not only a global semiconductor and communications technology major, but one of the valued investors of Jio Platforms. To share a few words on this partnership, with me today is my dear friend, Qualcomm CEO Cristiano Amon,” said Mukesh Ambani.
During the RIL AGM, Amon said that as an ecosystem, Qualcomm actively supports innovative Indian semiconductor and hardware startups.
Qualcomm CEO said, “I am excited to work together on a cloud-native, scalable and flexible 5G infrastructure in both mmWave and sub-6 GHz, to develop an ecosystem that can grow beyond India “
On RIL’s finances
Mukesh Ambani said that Reliance continues to make all-round progress in its business. The company has become the first corporate in India to cross $100 billion in annual revenue.
“Reliance’s consolidated revenue grew 47 per cent to Rs 7.93 lakh crore or $104.6 billion. Reliance’s annual consolidated EBITDA crossed the crucial milestone of Rs 1.25 lakh crore. And in the spirit of Sachi Hum Care, Reliance Foundation continues to benefit lakhs of people across the country,” he said.
RIL’s Digital Services
Mukesh Ambani said that over the past year, Jio has further cemented its position as India’s number one digital services provider.
“Today, we have 421 million mobile broadband customers on our 4G network. And they consume an average of about 20 GB of broadband data every month, almost doubling their consumption compared to last year.”
He said digital. Inspired by India Prime Minister Narendra Modi’s vision, the country has seen the emergence and scale of several world-class national platforms, which have benefited enormously and
Convenience to common citizens.
Retail business of RIL
Mukesh Ambani said, “I congratulate the entire leadership team of Reliance Retail on achieving a turnover of Rs 2 lakh crore and EBITDA (earnings before interest, tax, depreciation and amortization) of Rs 12,000 crore. Today Reliance Retail is among the top 10 retailers in Asia.
He also said that the company has set high standards to serve the community. In 2022, Reliance was the largest taxpayer, with direct and indirect taxes increasing by about 108 per cent. Reliance added 2.32 lakh jobs. Digital Services Business – JIO – Number Digital Service Provider 421 Million Customers. “We are inspired by our dynamic PM.”
on oil and gas business
Mukesh Ambani said that production increased nine times and revenue crossed one billion dollars. “With 19 million standard cubic meters per day produced in extremely deep water fields, KG-D6 is contributing 20 percent of India’s domestic gas production.”
He said that with the commissioning of the MJ field by the end of 2022, the KG-D6 will contribute about 30 per cent of India’s gas production. This will help in meeting India’s growing demand indigenously, leading to import savings of around $9 billion per year. Natural gas is a major source of clean and affordable energy for India, especially in times of significant global energy crisis.
from oil to chemical business
Mukesh Ambani said that it is another year of stellar performance. It crossed Rs 5 lakh crore in annual revenue. EBITDA crossed Rs 50,000 crore.
“We are committed to maximizing oil to chemicals integration and converting our profitable feedstock streams into high-value chemicals and green materials.”
on media business
Mukesh Ambani said Reliance Group’s media business achieved its highest ever growth last year on the back of strong engagement, resulting in record subscription and advertising revenues.
“Our national channels, CNN-News18, CNBC-TV18 and News18 India are consistently ranked No.1.”
Network18 and TV18 – the companies that operate news18.com – are controlled by the Independent Media Trust, of which Reliance Industries is the sole beneficiary.
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