In one fell swoop, Reliance chief Mukesh Ambani suffered a major economic setback. When the entire Indian economy collapsed in the lockdown, he not only used his business acumen to save his business from losses, but also saw huge profits. But it is said that Lakshi Chanchala, by reversing all the calculations in one day, the amount of loss stood at 1 lakh crore. Due to which he went down three steps in the list of the richest people in the world.
Despite making huge profits in the digital business, the oil refinery business, one of Reliance's major businesses, has been hit hard by the lockdown. Traffic was almost non-existent across the country due to the lockdown, which has led to lower sales of fuel oil. Reliance's net profit fell by 15 per cent in the second quarter of the current financial year compared to the second quarter of the previous financial year, according to Reliance.
As soon as this news came out, the shares started reading. Reliance's share price. The company's stock index fell 7.62 percent on the day. As a result, the price per share decreased to 1 thousand 6 rupees. Which further increased the amount of financial loss to the company.
Mukesh Ambani was the sixth richest man in the world with a net worth of. 61.5 billion. This time he came down three steps in one push. Just as he climbed to the top of the rich list very quickly, this time he went down even faster.