Reliance Industries Appoints Srikanth Venkatachari as CFO
Reliance Industries Limited, led by Mukesh Ambani, has announced the appointment of Srikanth Venkatachari as its new Chief Financial Officer (CFO), effective from June 1st. Venkatachari to replace Alok Agarwal, who served as CFO since 2005; Agarwal moves to senior advisor to Reliance Chairman.
Who is Srikanth Venkatachari?
Srikanth Venkatachari is a seasoned finance professional with over 25 years of experience in the field of finance and accounting. He has been associated with Reliance Industries for the past 14 years and has played a pivotal role in the company's financial strategy and planning. Before joining Reliance, he worked with KPMG and PwC
in various capacities.
Venkatachari's role as CFO
As the new CFO of Reliance Industries, Venkatachari will be responsible for leading the company's finance function, including financial planning, accounting, tax, treasury, and investor relations. He will also be involved in the formulation and implementation of the company's financial strategy, including mergers and acquisitions, joint ventures, and other strategic initiatives.
Venkatachari's contribution to Reliance Industries
Venkatachari has been an integral part of Reliance Industries' finance team and has played a significant role in the company's growth and success over the years. He has been instrumental in raising funds for the company's various projects, including its ambitious
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platform, and has been a key player in the company's strategic planning and execution.
Reliance Industries' financial performance
Reliance Industries has been posting strong financial results over the past few quarters, driven by its focus on digital services and its successful fundraising efforts. The company's net profit for the December 2022 quarter stood at INR 15,853 crore, up 15% from the same period last year. Its revenue for the quarter stood at INR 2,41,863 crore, up 35% from the previous year.
The significance of Venkatachari's appointment
Venkatachari's appointment as CFO is seen as a strategic move by Reliance Industries, as it looks to further
strengthen its finance function and focus on growth and expansion. His deep knowledge of the company and his experience in the finance industry make him a valuable addition to the leadership team.
Reliance Industries' appointment of Srikanth Venkatachari as its new CFO is a significant development for the company, which has been posting strong financial results in recent quarters. Venkatachari's deep knowledge of the company and his vast experience in the finance industry make him an ideal candidate for the role, and his appointment is seen as a strategic move by Reliance Industries as it continues to focus on growth and expansion.