Billionaire businessman Mukesh Ambani-owned oil-to-telecom conglomerate Reliance Industries has become the first Indian company to record a gross revenue of over 100 billion US dollars in a year. The company on Friday declared its quarter four earnings for the last financial year (April 2021 to March 2022), showing a gross revenue of over Rs 58,000 crore against Rs 57,700 (approx) in the previous quarter.  And for the entire fiscal, Reliance reported a gross revenue of Rs 7.92 lakh crores (102 billion US dollars) -- a feat the company attributed to the rise in earnings in its telecom, retail and refining businesses. "Despite the ongoing challenges of the pandemic and heightened geo-political uncertainties, Reliance has delivered a robust performance in FY2021-22,"  Ambani, the chairman and managing director of Reliance Industries, said in a statement.  "Over the past year, we added over 2.1 lk new employees across our businesses with our consumer & technology biz creating a large part of these new jobs. I am pleased to report that our Retail biz has crossed the 15,000-store benchmark," he said. Also Read: Reliance eyeing stake in Google-backed Indian unicorn? "I am confident that Reliance will create sustainable and affordable new energy solutions for India to help her meet growing energy needs, while ensuring that we achieve our ambitious target of Net Carbon Zero by 2035," Ambani added. One of the richest persons in Asia, Mukesh's current net worth is nearly USD 80 billion. His Reliance Group is now India's most valuable company by market capitalisation. UNB had earlier reported about Mukesh's rumoured plans to hand over three core business areas of Reliance Industries to his three children -- Akash, Isha and Anant -- and also about his aggressive fundraising spree to make his conglomerate debt-free amid the pandemic. The fundraising spree was aimed at reducing Reliance's dependence on the flagship oil sector to diversify into telecom and e-commerce. In 2020, Reliance raised USD 15.2 billion by selling stakes in its telecom unit Jio and another USD 7 billion through rights issue.    

Eager to harness the power of digital media, India's oil-to-telecom conglomerate Reliance Industries is said to be eyeing a stake in US search giant Google-backed unicorn Glance InMobi Pte. Founded as a startup in 2019, Glance allows users to enjoy content of their choice -- all thanks to its artificial intelligence (AI)-powered personalisation. Reliance -- owned by richest Indian Mukesh Ambani -- is likely to invest around USD 300 million for a 15% stake in the Indian mobile content provider, in an ambitious deal that could be completed by October, a media report said, quoting unnamed sources. Read: India's Reliance Group to build mega chemical project in UAE Mukesh's Reliance is now India's most valuable company by market capitalisation,emerging as the biggest wealth creator in the past five years, while the industrialist's current net worth is around USD 78 billion. UNB had earlier reported about Mukesh's rumoured plans to hand over three core business areas of Reliance to his three children -- Akash, Isha and Anant -- and also about his fundraising spree to make his conglomerate debt-free. The fundraising spree was actually aimed at reducing Reliance's dependence on the flagship oil sector and instead diversifying into telecom and e-commerce. Read: India's Reliance developing a tapeworm drug to treat Covid UNB had also reported about Reliance's plans to take its telecom arm Jio public in the 2021-22 fiscal, riding on the increased digital adoption across the world, in the wake of Covid. India's internet users are likely to grow to 850 million by 2022. Jio has attracted 400 million subscribers to its network since its mega launch in 2016, despite being a late entrant to the telecom sector. By offering free voice calls and data at the world's cheapest price, it has already changed India's digital landscape.

The 718 MW natural gas-fired combined cycle power plant project at Meghnaghat (on the outskirts of Dhaka), country’s largest gas-based IPP, being set up by Reliance Bangladesh LNG & Power Limited has made significant progress despite the ongoing pandemic.

Richest Indian Mukesh Ambani-owned Reliance Group’s 718 MW natural gas-fired combined cycle power plant project on the outskirts of Dhaka has failed to make any significant progress in the past one year.

Barely three months after reporting a net debt of some USD 21 billion, India's billionaire businessman Mukesh Ambani-owned oil-to-telecom conglomerate Reliance Industries announced its debt-free status in June this year -- all thanks to an unprecedented fundraising spree that helped cheer up the country's bourses amid Covid.