Reliance rallies COVID-19 efforts on war footing ; becomes India s largest producer of medical oxygen
RIL now produces over 11% of India s total production of medical grade liquid oxygen, at its refinery-cum-petrochemical facility in Jamnagar and other plants, meeting the needs of nearly every 1 in 10 patients in the country
BusinessToday.In | May 1, 2021 | Updated 14:30 IST
In April 2021, RIL supplied over 15,000 MT of medical grade liquid oxygen free of cost, helping nearly 15 lakh patients
Reliance Industries Ltd (RIL), on Saturday, said that it has become India s largest producer of medical-grade liquid oxygen from a single location.
As the country grapples with an unprecedented new wave of COVID-19 pandemic, RIL now produces over 11% of India s total production of medical grade liquid oxygen, at its refinery-cum-petrochemical facility in Jamnagar and other plants, meeting the needs of nearly every 1 in 10 patients in the country.
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Top Indian and global corporates are extending emergency assistance such as medical supplies, life-saving equipment and hospital beds to help fight the second pandemic wave.
Reliance Industries Ltd is supplying oxygen free of cost to State governments to bring relief to over 1 lakh patients on a daily basis.
Mukesh Ambani, Chairman and Managing Director, Reliance Industries Limited, said: “For me and for all of us at Reliance, nothing is more important than saving every life as India battles against a new wave of the COVID-19 pandemic. There is an immediate need to maximise India’s production and transportation capacities for medical grade oxygen.”
As India grapples with an unprecedented new wave of Covid pandemic, Reliance Industries Ltd (RIL) has now become the country s largest producer of medical grade liquid oxygen from a single location. At its refinery-cum-petrochemical complex in Jamnagar and other facilities, RIL now produces over 1,000 MT of medical grade liquid oxygen per day or over 11 per cent of India s total production - meeting the needs of nearly every one in 10 patients. Traditionally, Reliance is not a manufacturer of medical grade liquid oxygen. For me and for all of us at Reliance, nothing is more important than saving every life as India battles against a new wave of the Covid-19 pandemic, said Mukesh Ambani, Chairman and Managing Director.
Fitch downgrades Future Retail to restricted default on DDE ANI | Updated: May 01, 2021 12:01 IST
Mumbai (Maharashtra) [India], May 1 (ANI): Fitch Ratings has downgraded Future Retail Ltd s (FRL s) long-term issuer default rating to restricted default from distressed following the company s announcement that it has completed restructuring of bulk of its onshore debt.
Fitch said it views the move as a distressed debt exchange (DDE). At the same time, it affirmed the rating on FRL s USD500 million 5.6 per cent senior secured notes due 2025 at distressed with a recovery rating of RR5.
The DDE provides relief on debt servicing requirements until September 30 but the resultant debt structure and maturity profile remain unsustainable.
Jio’s Q4 net profit grows 48% to Rs 3,508 crore
Jio s consolidated revenue from operations rose 18.9 per cent on a year-on-year basis to Rs 18,278 crore during the fourth quarter of FY21.
By IANS| Posted by Minhaj Adnan | Updated: 1st May 2021 1:48 pm IST
Mumbai: Jio Platforms on Friday reported 47.5 per cent growth in its consolidated net profit for the January-March quarter at Rs 3,508 crore.
During the same quarter of FY20, the company had reported a consolidated net profit of Rs 2,379 crore.
Jio’s consolidated revenue from operations rose 18.9 per cent on a year-on-year basis to Rs 18,278 crore during the fourth quarter of FY21.