Anil Ambani claims to have repaid Rs 25,000 crore in past 14 months

Updated: Jun 11, 2019, 14:38 IST | mid-day online desk

In a conference call with media, Ambani said the Rs 35,000 crore debt repayment includes debt servicing by Reliance Capital, Reliance Power and Reliance Infra and their respective affiliates

Anil Ambani claims to have repaid Rs 25,000 crore in past 14 months

Reliance group chairman Anil Ambani Tuesday said the group has repaid over Rs 35,000 crore of debt during the past 14 months and exuded confidence that it would meet all future debt obligations through the ongoing asset monetisation plan.

In a conference call with media on June 11, Ambani said the Rs 35,000 crore debt repayment included debt servicing by Reliance Capital, Reliance Power and Reliance Infra and their respective affiliates. "TheReliance group has made aggregate debt servicing payments of over Rs 35,000 crore in the 14 months period from April 2018 till May 2019," Ambani said.

These comprise principal repayment of Rs 25,000 crore and interest payment of nearly Rs 11,000 crore, he said. He claimed that this payment has been funded almost entirely from the proceeds from asset monetisation and that the group is fully committed to meet all its future debt servicing obligation in a timely manner as more asset sales are on.

Reliance Power posts Rs 3,558 cr net loss in Q4

Anil Ambani Group firm Reliance Power Sunday reported a net loss of Rs 3,558.51 crore for the quarter ended March 31, as against a net profit of Rs 189.21 crore in the year-ago period.

In a filing to the BSE, Reliance Power said the board in its meeting on June 8 approved the audited financial results for the quarter and financial year ended March 2018, and also approved raising resources by issuing debt securities by way of privately placed debentures, subject to approvals.
For full fiscal, Reliance Power reported a net loss of Rs 2,951.82 crore as against net profit Rs 840.46 crore.

Anil Ambani is married to Bollywood actress Tina Ambani. The couple has two sons - Jai Anmol and Jai Anshul. Anil Ambani is Reliance Industries chairman Mukesh Ambani's younger brother.

Inputs from PTI

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