India’s richest person, Mukesh Ambani has kept his annual salary Rs 15 crore same even after an 11th consecutive year of his company Reliance Industries. On the other hand, the salary of the company’s directors has been increased now in the financial year ending March 31, 2019. Mukes Ambani’s close relatives like Nikhil and Hital Meswani have been benefited with a huge salary hike.
Reliance Industries Chairman Mukesh Ambani has said on the company’s results that despite the bad global market and fall in the hydrocarbons sector, the results of the first quarter have been good. The Refining sector also showed good performance in the slow demand growth market. Chairman and Managing Director Mukesh Ambani’s salary has been fixed at Rs 15 crores, which reflects his desire to present himself as an example of keeping managerial level position balanced. On 19th July 2019, Reliance Industries announced its quarterly results. Reliance Industries’s consolidated profits in the April-June quarter stood at Rs 10,104 crore.
Mukesh Ambani has not raised any amount to his salary since 2008-09. According to the report issued by the company, his annual salary is still 15 crores. At the same time, the fees received for Nita Ambani have also been increased. Mukesh Ambani in the Financial Year 2018-19 was paid Rs. 4.45 crore as salary and allowances.
His salary and allowance was Rs 4.49 crore in 2017-18. Ambani had announced in October 2009 to keep his salary consistent. Both Nikhil and Hital Meswani were given a package of 20.57-20.57 crores in 2018-19. A year ago, each of these two got Rs 19.99 crore. During this time, the company’s executive director PMS Prasad’s compensation has increased from Rs 8.99 crore to Rs 10.01 crore.
Canada’s investment firm Brookfield Asset Management will invest Rs 25,215 crore in Reliance Industries’s telecom tower trust control infra assets. This information was given by the two companies on the same day. According to Brookfield, the co-investor will buy 100% of the operating tower company. Brookfield’s second investment in Mukesh Ambani’s companies was done this year In March, the deal was to buy Reliance’s East-West pipeline for Rs 13,000 crore. The tower business was first owned by Reliance Jio. Reliance has demerged Fiber and Tower business this year and made Jio Digital Fiber Private Limited and Reliance Jio Infratel Private Limited companies.