- Given the lacklustre sales in O2C, both revenue and net profit were lower sequentially
Digital and retail carried the day for Reliance Industries Ltd (RIL) in the December quarter, even as its mainstay oil-to-chemical business (O2C) remained under pressure. Despite lower crude oil prices and weakness in chemicals’ demand, net profit at India’s most valuable company rose 10.9% from a year earlier to ₹19,641 crore, as newer businesses found their feet.
RIL’s profit beat the Bloomberg estimate of ₹18,080 crore, but weakness in the core oil-to-chemical (O2C) business is proving to be a headache for the Mukesh Ambani-led conglomerate. "Reliance’s O2C segment quarterly revenue fell 2.4% y-o-y to ₹1,41,096 crore primarily on account of lower price realization led by 5.3% y-o-y decline in average Brent crude oil prices," the company said in a statement.
The O2C business includes RIL’s refining, petrochemical plants and manufacturing assets located at Jamnagar, Hazira, Dahej, Nagothane, Vadodara, Patalganga, Silvassa, Barabanki and Hoshiarpur.
この記事は Mint Mumbai の January 20, 2024 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
すでに購読者です ? サインイン
この記事は Mint Mumbai の January 20, 2024 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
すでに購読者です? サインイン
7 myths about ADHD and how to handle it
Some adults with ADHD are misdiagnosed as having anxiety or depression as myths prevail even in the medical community
Why women bear the brunt of misdiagnosis
Girls are half as likely as boys to be diagnosed correctly as having ADHD, show studies
At these international marathons, it's ready, steady, swig
Can running and drinking go together? From France to Scotland, here are five races where running is a merry party
Indian IT firms should brace for Trump's second term
Restrictive visa, trade and other policies under Trump 2.0 may force a review of their US-centric business models
Freebies don't offer a long-term solution but let us not ban them
Keeping citizens dependent on handouts is not fiscally sustainable. India needs a transparent framework to regulate them
Is Nvidia's chief dreaming of selling us R2-D2-like robots?
It may turn out to be a good bet if the chip-maker keeps its risks low
Two ways the EPFO can get itself an image boost
India's state-run retirement fund would do itself a favour by resolving its high level of claim rejections and speeding up interest payments. Its digital makeover should signal efficiency
Forex card vs debit card: How to lower cross-border markup fees
Unlike debit cards, forex cards are not linked to your bank account, limiting your exposure to fraud and theft
India must reassess its rejection of the RCEP trade bloc
Joining it can work in our favour as global trade barriers get reshaped and value chains are forged
Armed hostility between Israel and Iran is very likely to escalate
Israel senses a high-risk high-return chance to reshape West Asia that Trump might green-light
