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Reliance first Indian private firm to cross $1 B profits

siliconindia Reports:

Diversified conglomerate Reliance Industries said Thursday its net profit for 2003-04 had crossed the $1 billion mark to become India's first private sector enterprise to reach the milestone.

"The financial year 2003-04 has been yet another landmark year in the history of Reliance," said Mukesh Ambani, chairman and managing director of Reliance Industries Limited.

"We have become the first company in the private sector in India to record a profit of over $1 billion in a year," said Ambani who took over the group's management from Dhirubhai Ambani, the legendary first-generation entrepreneur.

It is known that breaking a milestone is tough, but once it is broken by somebody, it becomes easier for others to break it, and consequently new targets are set. So, its time to see $1billion dollar mile stone conqurred by many more Indian companies and look forward to watch $2billion mile stone taken over.

Cheers Reliance....................