Ambani Groups News Today

Congress's 'Nyay Patra' does not talk of redistribution of wealth but of addressing income inequality; Rahul has spoken of surveys to find out who holds the country's wealth

April-June 2023 (Q1FY24) was a mixed quarter for Indias top family-owned business groups. Three of the big five in terms of revenue reported a year-on-year (Y-o-Y) decline in combined net sales and two saw a Y-o-Y fall in net profits. Combined net sales of all listed companies in the five groups were up just 2.2 per cent Y-o-Y at Rs 6.6 trillion in the quarter, down sharply from the 10.3 per cent in the March 2023 quarter (Q4FY23) and 42.8 per cent in Q1FY23.