Reliance’s Q3 net profit rises over 25 per cent
23 Jan 2021 Picture used for illustrative purpose. File Reliance Industries Limited (RIL) on Friday reported a rise of over 25 per cent in its consolidated net profit for the quarter ended December 31 of FY2020-21 on a year-on-year (YoY) basis.
The company’s consolidated net profit during the third quarter of FY21 increased to Rs14,894 crore from Rs11,841 crore reported for the corresponding period of the previous fiscal.
The consolidated net profit attributable to owners of the company fell to Rs13,101 crore from Rs11,640 crore reported for the corresponding quarter of the previous fiscal.
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The major factor driving the demand for polypropylene (PP) is the rising usage of the chemical in the packaging sector and nonwoven fibers.
As a result, from $122.7 billion in 2019, the polypropylene market is projected to grow to $226.8 billion by 2030, witnessing a 5.7% CAGR during 2020-2030 (forecast period). One of the most commonly used plastics, PP is made up of multiple monomers of propylene. It is a crystalline and rigid linear resin obtained from hydrocarbons.
Copolymer and homopolymer are the bifurcations under the type segment of the industry. Of these, the homopolymer bifurcation held the larger share in the polypropylene market during the historical period (2014-2019), on account of the higher rigidity of homopolymers than copolymers, which makes the former more popular. This product easily tolerates chemical exposure and extreme temperatures, is easily weldable, and offers appreciable thermo
RIL Q3 results: Net profit rises 12.5% to ₹13,101 cr
(Photo: Reuters)
Consolidated revenue from operations declined 22% to ₹1.23 lakh cr We have delivered strong operational results during the quarter with a robust revival in O2C and Retail segments, says RIL chairman Mukesh Ambani
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Oil-to-telecom conglomerate Reliance Industries on Friday reported 12.5% rise in consolidated net profit at ₹13,101 crore for the quarter ending 31 December, 2020. It was ₹11,640 crore in the year-ago period.
Mukesh Ambani-led RIL recorded a sharp fall in revenue at its dominant oil-to-chemicals business.
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