RIL net jumps 32 pc on KG gas, refining biz boost - Economic Times

MUMBAI: Reliance Industries, the biggest private sector company, which is investing in US shale gas assets, said quarterly earnings rose 32% aided by sale of gas from its prolific KG basin and higher refining margins, even as petrochemicals business remained sluggish on supply glut.

Visit http://geicoinsuranceproducts.wordpress.com/ for GEICO Insurance Products News / Reviews.

Net profit for the June quarter advanced to Rs 4,851 crore, from Rs 3,666 crore a year ago when global economic slump crimped revenues and profitability. Sales soared 88% to Rs 61,007 crore, from Rs 32,441 crore helped by higher production and improved prices. Net profit for the June quarter advanced to Rs 4,851 crore, from Rs 3,666 crore a year ago when global economic slump crimped revenues and profitability. Sales soared 88% to Rs 61,007 crore, from Rs 32,441 crore helped by higher production and improved prices. “There are no surprises in this result,” said Sandeep Randeery, analyst at BRICS Securities. The stock is fairly valued and new initiatives and investments will be the triggers, he said.

RIL net jumps 32 pc on KG gas, refining biz boost - Economic Times