Led by core business, Reliance profit jumps 1.7% in Sep quarter
Posted on 14th October 2014 |
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| Reliance Industries Ltd (RIL) beat analysts’ expectations during the July-September quarter, with its profit increasing 1.7 per cent over the year-ago period. Even as lower exports, a decline in crude oil prices and reduced refining and oil & gas volumes had a bearing on the company’s earnings during the quarter, higher profitability in the core refining & petrochemicals business helped. Good sales in the organised retail space also boosted the numbers for RIL. On a consolidated basis, Reliance Industries’ turnover in the period stood at Rs 1,13,396 crore, a drop of 4.3 per cent from Rs 1,18,439 crore a year ago. At Rs 5,972 crore, however, its net profit was 1.7 per cent higher than Rs 5,873 crore in the same period last year. The value of its exports from India stood at Rs 66,065 crore, 14.7 per cent lower than Rs 77,428 crore in July-September 2013. Given the group’s size, the business of Network18 Media and subsidiary TV18 Broadcast, which Reliance acquired in July this year, is not significant. But the media firm’s consolidation from this quarter also affected the year-on-year comparisons for RIL. For the July-September period, Network18 Media posted a consolidated net loss of Rs 0.4 crore on a turnover of Rs 744.8 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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