Reliance Industries record-breaking performance not only shows its contribution in India’s corporate sector but also reflects its dedication to driving innovation and economic growth of the country.

Reliance Income Tax: Reliance Industries Limited (RIL), led by Mukesh Ambani, has set another remarkable milestone by contributing a staggering Rs 1.86 lakh crore in corporate income tax for FY 2023-24.

This contribution accounts for approximately 4% of the Indian government’s annual budget, making RIL the highest tax-paying company in the country.

Breaking Records In Tax Contributions

According to the company’s latest annual report, RIL’s corporate income tax payment for FY 2023-24 surpassed its previous year’s contribution of Rs 1.77 lakh crore by Rs 9,000 crore. This solidifies the company’s position as India’s top tax-paying corporation.

India’s First Company To Cross Rs 20 Lakh Crore Market Cap

In FY 2023-24, Reliance Industries achieved another significant feat by becoming the first Indian company to cross the Rs 20 lakh crore market capitalization mark.

The company’s market cap grew by 27% during the year, propelling it to the 48th position among the world’s largest companies.

Additionally, RIL’s consolidated revenue crossed Rs 10 lakh crore for the first time, showcasing robust growth across its business segments.

Reliance Industries Profit After Tax

Profit After Tax (PAT): For FY 2023-24, RIL reported a profit of over Rs 79,000 crore, a 7.3% increase compared to Rs 73,670 crore in the previous fiscal year.

Exports: The company exported goods worth Rs 3 lakh crore, further strengthening its global presence.

Investments: RIL invested Rs 1.35 lakh crore in FY 2023-24, underlining its commitment to expanding operations and infrastructure.

CSR Spending: The company spent Rs 1,592 crore on corporate social responsibility initiatives, an increase of Rs 300 crore compared to the previous fiscal year.

Mukesh Ambani’s Statement on Nation-Building

In the annual report, Mukesh Ambani, Chairman and Managing Director of RIL, expressed pride in contributing to India’s growth story. He highlighted the country’s increasing prominence in the global economic landscape and credited India’s stability and prosperity amidst global uncertainties to the collective efforts of its 1.4 billion citizens.

“India’s emergence as a beacon of stability and growth in an uncertain world is a testament to the collective efforts of 1.4 billion Indians.

The spirit of India inspires Reliance to innovate continually and excel in all its enterprises. Being part of India’s growth story and contributing to its extraordinary progress is a matter of immense pride for the Reliance family.”

Contribution Beyond Taxes

RIL’s influence extends beyond tax contributions. The company continues to lead in private investments, exports, and community development, underscoring its pivotal role in nation-building.