, India’smost valuable company, may bank on increased production ofnatural gas to cut dependence on refining and end four straightquarters of declining profit.
The explorer and refiner said net income in the threemonths ended Sept. 30 fell 6.6 percent to 38.5 billion rupees($815 million). The median estimate of 15 analysts in aBloomberg survey was a profit of 40 billion rupees. Net salesrose 4.8 percent to 468.5 billion rupees. The recession weakened global demand for fuels, pullingdown crude oil prices from a record and squeezing margins atReliance and rivals Exxon Mobil Corp.
Full Story: Reliance May Bank on Higher Natural Gas Output to Boost Profit - Bloomberg
The explorer and refiner said net income in the threemonths ended Sept. 30 fell 6.6 percent to 38.5 billion rupees($815 million). The median estimate of 15 analysts in aBloomberg survey was a profit of 40 billion rupees. Net salesrose 4.8 percent to 468.5 billion rupees. The recession weakened global demand for fuels, pullingdown crude oil prices from a record and squeezing margins atReliance and rivals Exxon Mobil Corp.
Full Story: Reliance May Bank on Higher Natural Gas Output to Boost Profit - Bloomberg
