RIL Q2 consolidated net rises 12.5% to Rs 8,109 cr; Jio loss at Rs 271 cr
Posted on 13th October 2017 |
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| Buoyed by higher margins from its core refining and petrochemical businesses, oil-to-telecoms conglomerat Reliance Industries today reported a 12.5% increase in second-quarter consolidated net profit at Rs 8,109 crore as compared with last year’s figure of Rs 7,206 crore. Consolidated revenue increased by 24% to Rs 1,01,169 crore during the quarter ending September as against Rs 81,651 crore in year-ago period. Profit on a standalone basis, which includes the company's refining, petrochemicals and oil and gas exploration businesses, stood at Rs 8,265 crore, compared with Rs 7,704 crore a year earlier, a 7% increase. Reliance Jio's net loss, however, widened to Rs 271 crore as against Rs 21 crore in the previous quarter ending June. The gross refining margin (GRM) was at $12 per barrel during the quarter under review as against $10.10 per barrel in year-ago period. On Friday, the RIL scrip on BSE closed 0.5% higher at Rs 876.70. Ahead of its quarterly earnings announcement, RIL’s shares jumped nearly 4% on Thursday. The company's market valuation zoomed to its highest ever, by Rs 20,328.1 crore at Rs 5,52,515.10 crore. |
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Bharti Airtel defers Q2 results till Nov 14 over ambiguity on AGR verdict
Posted on 29th October 2019 |
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Bharti Airtel said on Tuesday it has postponed its second-quarter earnings report to mid-November, as the wireless operator sought clarity on the court ruling asking telecom firms to cough up overdue payments to the government.
Shares of the company, which was expected to release its quarterly numbers later in the day, dropped 3.3 per cent in early trade. |
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Rupee slips 8 paise vs US dollar in early trade amid drop in oil prices
Posted on 7th October 2019 |
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The rupee on Monday opened eight paise lower at 70.96 against the US dollar amid drop in crude oil prices and rise in Asian equities. The domestic unit on Friday closed almost flat at 70.88 against after the Reserve Bank of India (RBI) in a widely expected move cut key interest rates by 0.25 percentage point. On a weekly basis, the local unit slumped by 32 paise. |
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LIC pips private insurers in first-year premium growth during April-August
Posted on 13th September 2019 |
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In the first five months of the current financial year, first-year premiums of life insurance companies grew by 39.84% (year-on-year) at Rs 1.05 lakh crore as compared to Rs 75,588.35 crore in April-August of 2018-19. Life Insurance Corporation of India (LIC) continued to grow at a faster pace compared to private insurance players, shows the data from the Insurance Regulatory and Development Authority of India (Irdai). |
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Apollo Hospitals rules out further stake sale
Posted on 13th September 2019 |
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Apollo Hospitals Enterprise (AHEL) has ruled out further dilution of promoters’ stake in the company. The company also said its Rs 1,337-crore stake sale of Apollo Munich Health Insurance with mortgage major HDFC will be concluded by October. Following these stake sales, the promoters’ pledged position will come down from a high of 76% to 54% by October and eventually to 20% by November or December, company sources said here. |
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World trusts India on Kashmir, not us: Pakistan minister Ijaz Ahmed Shah
Posted on 13th September 2019 |
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In a major embarrassment for Pakistan and its Prime Minister Imran Khan, the country's Interior Minister Ijaz Ahmed Shah, a retired brigadier, said the international community didn't believe Pakistan's narrative on Kashmir; instead it is India whose version is trusted. |
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