Sanjay Mashruwala, managing director of Reliance Jio, steps down: Examine the stock market registration of the firm

Reliance Jio has lost one of its two managing directors, Sanjay Mashruwala, to resignation. The same was disclosed by Reliance in a stock market filing. Mashruwala, 76, has been engaged in numerous of Reliance’s projects and commercial activities from the company’s founding by Dhirubhai Ambani and has been a major executive.

As of June 9, Reliance Jio has announced that he is leaving the firm.

Under the “Intimation under Regulation 51(2) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015,” the BSE and NSE filed their information.

“This is to notify you that, as of June 9, 2024, Mr. Sanjay Mashruwala, Managing Director, has submitted his resignation as a Director of the Company. Since 2013, Mr. Sanjay Mashruwala, a 76-year-old skilled professional, has served as the company’s managing director. The Board officially expressed its gratitude for Mr. Sanjay Mashruwala’s contributions to the Company’s revolutionary journey. Mr. Pankaj Mohan Pawar is still the company’s managing director. Please take note of the aforementioned information.”
Q4 net profit for Reliance Jio increases 13% year over year
The information was disclosed by the business when it released its FY2024 fourth quarter results. The biggest telecom company in India, Reliance Jio, reported a 13% year-over-year increase in its standalone net profit in the March quarter, coming in at Rs 5,337 crore.
Its operating revenue for Q4 FY24 was Rs 25,959 crore, which represents an 11% increase from the same quarter the previous year. The net profit for the just-concluded quarter was estimated to be Rs 5,337 crore, up from Rs 4,716 crore in the fourth quarter of FY23. This is a 13.16 percent gain.
With a net profit of Rs 20,466 crore for the whole of FY24, it was 12.4% more than in FY23. The whole fiscal year concluded in March 2024 brought in Rs 1,00,119 crore in revenue, a 10.2% increase over the previous year.