Oil & gas major Reliance Industries reported its June quarter results on Friday, 19 July 2013. Though its operating profit growth disappointed it could have been worse but for the refining business. The company’s net profit growth, however, was better than the Street’s expectation.
Reliance Industries
Recent Posts
Ambani brothers connect: RCom and Reliance Jio to share telecom infrastructure
|
Anil Ambani group company Reliance Communications’ stock price jumped by 10.9% after it announced a tie-up with the Mukesh Ambani group telecom company Reliance Jio Infocomm. Reliance Communications will open up its optic fibre network to Reliance Jio which has a license for nationwide 4G services. A recent government decision means that it can also provide voice services by paying a one-time fee. Reliance Industries owns a majority stake in Reliance Jio.
Filed under: Companies, Telecom, Top News, Anil Ambani, Mukesh Ambani, Reliance Communications, Reliance Industries
Reliance sells 30% stake in 23 oil & gas blocks to BP: what is the deal logic?
|
Reliance Industries parted with a substantial stake in its oil & gas exploration and production business to BP, in return for cash and technology to develop this business. They will also set up a joint venture for sourcing and marketing gas in the country.
Filed under: Companies, Oil & Gas, Top News, BP, Companies International, Gas, M&A, Mukesh Ambani
Reliance Industries’ higher output offset by lower margins in the December 2009 quarter
|
Reliance Industries results were largely in line with expectations. The petroleum major’s sales rose by 93% to Rs 58,848 crore in the December quarter, compared to the same period last year. Its net profit, however, rose by a more modest 16% to Rs 4,008 crore. There were a few reasons for the significantly higher growth in sales. The December 2008 quarter was a relatively bad one and RIL’s sales had fallen by 9%. Its refinery at Jamnagar had been commissioned in December 2008 and would have operated at much lower capacity, than in the current fiscal. Continue Reading →
Filed under: Companies, Oil & Gas, Top News, December 2009, Petroleum, Reliance Industries, Results
Reliance’s refining business drags down profits
|
Reliance Industries chose to focus on margins rather than improve volumes during the June 2009 quarter. Its performance was affected by a mix of factors. Export volumes dipped during a period when the rupee depreciated, which would have normally added extra rupees to RIL’s bottom line. The Jamnagar refinery voluntarily gave up its export oriented tax status as it wanted to focus on the domestic market. Gas production from its KG basin started, contributing to sales and profits, but also upped its depreciation outgo. Continue Reading →
Filed under: Companies, Oil & Gas, Top News, June 2009, Petroleum, Reliance Industries, Results
Reliance Industries buys out the Gapco group in East Africa
|
Reliance Industries acquired the petroleum marketing operations of Gapco (Gulf Africa Petroleum Corporation). The acquisition has been done through a subsidiary and Reliance has not disclosed the consideration for the deal. Gapco owns a distribution network including retail outlets in countries like Tanzania, Uganda and Kenya. The company imports fuel and then supplies it to various consumers. Reliance would obviously seek to export its own fuel products through Gapco, boosting its retail margins. Continue Reading →