RIL becomes India's largest tax payer in the private sector

Reliance Industries Chairman Mukesh Ambani on Thursday said that Reliance is India's largest payer of Goods and Services Tax (GST), Excise and Customs Duty, and Income Tax in the private sector.

Speaking at the Reliance Industries' 41st Annual General Meeting, Mukesh Ambani highlighted that Jio's subscribers grew 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," he said while adding that Jio is now India's most widespread mobile network that has a larger reach than even the 2G players.

Talking about the unprecedented growth, Ambani said that Jio is committed to making India one of the top 5 fixed broadband countries in the world.

Calling Jio as India's only mobile video network, Mukesh Ambani announced that there are more than 25 million JioPhone users in India.

RIL's consolidated 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.

However, the company had posted a net profit of 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 posted in the corresponding quarter a year ago.

"Reliance has become the first Indian company to record PBDIT (Profit Before Depreciation Interest and Taxes) of over $10 billion with each of our key businesses - refining, petrochemicals, retail and digital services achieving record earnings performance," Mukesh Ambani said in April.