Sunday, 17 December, 2017

Reliance Q1 earnings up 28%; GRM at Dollars 11.9/bbl

Kokilaben ambani mulesh ambani reliance AGM jio 4g phone jio 4g phone launched mukesh ambani crying video Kokilaben ambani crying video It was a very emotional moment
Preston Stone | 21 July, 2017, 02:06

The decision is, however, subject to Balaji Telefilms shareholder and other approvals. Balaji Telefilms is engaged in the production of TV content from broadcasters, production and distribution of films and also operates an over-the-top subscription video-on-demand platform called ALT Balaji. "Jio has revolutionised the Indian telecom and data consumption landscape", Mr. Ambani added. "This investment is a vote of confidence to the company's strategic move to own our IP and our viewers" said Balaji president Jeetendra Kapoor. As on June 30, the promoters held 43.29 percent in the company. "Our industry leading portfolio of assets in the refining and petrochemicals business contributed to considerable improvement in our earnings for the quarter", said Chairman and MD, Reliance Industries Limited, Mukesh D. Ambani.

Refining margins are a key measure of profitability for the business.

Exports (including deemed exports) from India operations were higher by 11.5% at Rs 371.11 billion (USD 5.7 billion) as against Rs 332.82 billion in the corresponding period of the previous year. "The increase in revenue is primarily on account of increase in prices and volumes of refining and petrochemical products partially offset by lower prices and volumes from E&P business".

"RIL proposes to acquire 2.52 crore equity shares of BTL, constituting 24.92 per cent of the post-issue paid-up capital of BTL... for cash consideration of Rs 164 per equity share amounting to an investment of Rs 413.28 crore", the company informed the BSE. "Further, favourable Brent-Dubai differential aided crude sourcing during the quarter", RIL said in its statement.

Son of Cecil the lion killed by trophy hunter
Cecil was killed two years ago and his death - at the hands of American dentist Walter Palmer - sparked worldwide outrage. The BBC reported that at the age of six, Xanda was old enough to be legally targeted by big game hunters.

Reliance General Insurance on Thursday said it closed the first quarter with its gross written premium going up by 41 per cent year-on-year and 22 per cent growth in its profit after tax. The oil and gas business saw revenue fall 1.2% to ₹ 1,324 crore, with the division sustaining an operating loss (at EBIT level) of ₹373 crore. Retail business also witnessed accelerated growth momentum with YoY revenue growth of 74 per cent.

Exceptional items during the quarter was Rs 1,087 crore ($ 168 million) representing profit from divestment of stake in Gulf Africa Petroleum Corporation (GAPCO).

The shares slid 0.3% to close at ₹1,528.70 prior to the results, which were announced after close of trading.

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