Unstable tripod?

IIPM MANAGEMENT INSTITUTE

If Mukesh Ambani belonged to a different pedigree, Business & Economy would have unhesitatingly endorsed the remarks made by Gandhi. Yet, like his legendary father Dhirubhai Ambani, even Mukesh Ambani seems to have a fetish for delivering performance that makes a mockery of analyst forecasts and prognostications. The results for the recent quarter ending December 2006 do the talking, with revenues at Rs.198.99 billion (growth of 40% yoy) & profits at Rs.31.56 billion (growth of 51%). For the nine months ending December 2006, Reliance saw a turnover of Rs.834.87 billion and net profit of Rs.80.55 billion. RIL also recorded exports worth Rs.486.96 billion in the same period. At least Dalal Street seems to agree that RIL is in a diff erent league altogether. In the last one year, while the Sensex appreciated by about 40%, the RIL scrip pole vaulted by over 100%. In fact, if you consider other company shares (like Reliance Infocomm) that stakeholders inherited after the January 2006 stock split, the shareholder wealth has gone up by three times in one year.

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Source : IIPM Editorial, 2007

An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

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