Kumar Mangalam Birla Net Worth

The sum net worth of Mr. Kumar Mangalam Birla is estimated to be $12.8 Billion (1280 crores USD) in 2021, which in Indian Currency is regarding equal to 92800 CroreIndian Rupee (i.e. approx Ninty Two Thousand Crore INR). He is the 9th richest individual in India and one of the most influential people across the globe. He chairs the 41 Billion USD Aditya Birla group and is with competently-known by the publicize  Commodities King Kumar Birla. Besides such a big net worth and revenue of his empire, he is as well as the King afterward it comes to Social feat and bureau. Following are the sectors and foundations led by Mr. Kumar Mangalam Birla for the welfare of group:

Vodafone-Idea losses to Rs 50921 crore in September quarter

Competition for the rest of the companies has increased significantly since the arrival of Mukesh Ambani's Jio in the telecom sector. The effect of this is that Anil Ambani's RCom is going bankrupt. Vodafone and Idea Cellular had to take a decision on the merger, yet the problems were not subsiding. Vodafone-Idea reported last week that it incurred a loss of Rs 50,921 crore in July-September. This is the biggest quarterly loss of an Indian company. Vodafone has said so much that it is now difficult to do business.

NameKumar Mangalam Birla
Net Worth (2021)$12.8 Billion
Net Worth In Indian Rupees92, 800 Crore INR
ProfessionIndustrialist, Chairman of the Aditya Birla Group
Monthly Income And Salary250 Crore +
yearly Income2985 Crore +
Last UpdatedMarch 2021

The Aditya Birla Group suffered not only from the circumstances in the telecom sector but also due to declining GDP growth of the country and trade war between US-China. Hindalco Industries, the group's shareholder, is the world's leading aluminum company. The group also owns the country's largest cement company Ultratech Cement, but demand has been low in the construction sector for some time.

Hindalco's profits declined by 33% in the July-September quarter. The company incurred losses due to lower aluminum and copper prices. Hindalco's stock is now down 31% from its December 2017 price. During this period, the shares of Grasim Industries, another company of Aditya Birla Group, declined by 33%.

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The Supreme Court's ruling on Adjusted Gross Revenue (AGR) last month also led to difficulties for telecom companies, as liabilities to their government increased. Vodafone-Idea and Bharti Airtel showed record losses in the July-September quarter due to the provisioning of the outstanding amount. However, in order to give some relief to the telecom companies, the government said on Wednesday that for the next two years they will not have to pay the installment of spectrum fees, just paying interest will be enough. The arrears of two years can be adjusted in subsequent installments. This will provide relief to Vodafone-Idea, Bharti Airtel and Jio with payment of Rs 42,000 crore in the next 2 financial years.

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